Northeast
Work Begins on Girls Club Mixed-Use Residential Project in NYC
New York–The Lower Eastside Girls Club (LESGC) in New York City is going to get a new home–a new 78-unit, mixed-use residential home.
New Mixed-Use Housing Project to Boost Brooklyn’s Bed-Stuy Neighborhood
New York–The effort to revitalize Brooklyn, New York’s, Bedford-Stuyvesant neighborhood takes a step forward with the groundbreaking on The Bradford, a mixed-use, mixed-income apartment property that will produce 105 residences.
INVESTMENT: Helios Capital Transacts More than $40M in Non-Performing Mortgages
Woodbridge, N.J.– Helios Capital LLC, a New Jersey-based commercial loan-advisory firm specializing in small balance non performing commercial loans in the secondary market under $25 million, says that it has completed more than $40 million in commercial loan transactions in N.Y. and N.J. over the past 12 months.
Lottery Begins for Affordable-Income Apartments at $220M Project in the Bronx
New York, N.Y.–Joy Construction Corp. has just kicked off the first lottery for St. Ann’s Terrace in the Bronx, making available 380 of the 641 residences.
SPECIAL REPORT: CMBS Industry has to Contend with Massive Amounts of New Regulations Under Financial Reform Laws
New York–New financial reform regulations may have the effect of limiting the number of players in the CMBS industry.
Proposed FASB Standard Has Some U.S. Contractors Worried
Washington, D.C.–A proposed new accounting standard has some general contractors concerned that it might make it more difficult to proceed on construction projects as demand returns for new structures—such as multifamily.
DEAL OF THE DAY: Chozick Realty Brokers Sale of Property for $7.05M
Bloomfield, Conn.- Rick Chozick and Ryan Perkoski of Hartford based Chozick Realty Inc. arranged the sale of Wedgewood Apartments, located in Bloomfield, Conn. for $7,050,000.
Opportunistic Buyer Seeks Second-Tier Multifamily
New York–The feeding frenzy is on for trophy multifamily properties in top-tier markets.
With Money In Hand Education Realty Trust Starts $35M Student Housing Project in Pennsylvania
Mansfield, Pa.–Financing for the development of a new student housing project at Mansfield University in Mansfield, Penn., has just closed and, with, funds in place for the $35 million endeavor, developer Education Realty Trust Inc. has commenced construction.
Apartment Market Weathered ’09 Reasonably Well: IREM
Chicago–Though the apartment industry has seen better years, 2009 wasn’t a terrible one in a number of ways for the industry, according to a new benchmarking study published by the Institute of Real Estate Management (IREM).