Northeast
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).
Apartment Property in Hoboken Gets LEED Gold Certification, A First for its Developer
Hoboken, N.J.–Berkshire at the Shipyard, a new 93-unit apartment building in Hoboken, N.J., has just achieved LEED Gold certification from the U.S. Green Building Council.
Multifamily Starts Up From Last Year, But Still Sluggish
Washington, D.C.–Housing starts edged upward unexpectedly in September.
Condos Lead NYC Residential Rebound
New York–New York’s residential sales market, led by condos and cooperative apartments, continued its rebound during the third quarter of 2010.