Northeast
Pittsburgh’s Piatt Place a Model in Green Evolution
Piatt Place, a mixed-use destination with 60 upscale residential condominiums in downtown Pittsburgh, is green to the bone. Completed by Millcraft Industries in 2009, the property is a shining example of how a non-green building can be reincarnated with a sustainable structural material to become a model of green development, and how it can help revitalize a city.
CWCapital Escalates Pace of Multifamily Deals
Earlier this month, the Mortgage Bankers Association reported that multifamily lending increased a whopping 114 percent between the second quarter of 2010 and the second quarter of 2011, much of which was during 2Q11 itself, which saw a quarter-over-quarter increase of 47 percent in multifamily lending.
Brooklyn Building Tabbed ‘2010’s Best Selling’ Now 100 Percent Sold
The once-stalled condominium structure Property Shark anointed as “Best Selling Building of 2010,” Brooklyn’s be@schermerhorn, is now 100 percent sold.
Long Island City’s The Yard Nearing 50 Percent Sold
New York–Buyers have begun moving into The Yard, a 12-story, 83-unit sister building to The Powerhouse.
Adaptive Reuse Student Housing Finished in Philly
Philadelphia–The adaptive reuse redevelopment of part of the former Women’s Medical College of Pennsylvania into new student housing at Philadelphia University has been completed.
AvalonBay Wins Bid to Acquire NJ Hospital Site for Redevelopment
Princeton, N.J.–AvalonBay Communities Inc. has inked a deal to buy the University Medical Center at Princeton from the nonprofit Princeton HealthCare System (PHCS), as well as nine houses that the health-care organization owns nearby.
Moinian Wins Mortgage Extension for 100 John Street
New York–The Moinian Group has obtained an extension of the securitized $84 million mortgage loan on the Renaissance at 100 John Street, the residential portion of a 36-story mixed-use property in downtown Manhattan.
Two Ribbon Cuttings Cap Affordable Housing Effort in Albany
Albany, N.Y.–On Tuesday, July 12, officials of Omni Housing Development attended a pair of ribbon cuttings marking completion of two different affordable apartment renovations in the Albany area.
Related to Preserve, Renovate Affordable Apartment Communities
New York–Keeping families in affordable apartments not only enhances their quality of life, but does a great deal to stabilize neighborhoods. That’s why the recent acquisition, renovation and preservation of the 48-unit New Horizons affordable housing development on West 111th St. in Harlem was cause for rejoicing.
TODAY’S DEALS: CB Richard Ellis Brokers $40.5M Multi-Housing Sale to Home Properties
CB Richard Ellis completes the sale of The Commons at Haynes Farm in Shrewsbury, Mass., and NorthMarq arranges a $33.5 million mortgage on behalf of Prometheus Real Estate Group.