Northeast
Bidders Brave Blizzard to Buy Arlington Apartments for $118M
Crescent Heights of America, acting through an L.L.C. called 1301 N. Troy, has bought the Palatine
Enterprise Community Partners Welcomes New Board of Trustee Members
Enterprise Community Partners Inc. has selected three new members to its board of trustees.
HUD Ruling Could Mean More FHA Financing in Pricier Housing Markets
The Department of Housing and Urban Development announced recently that it would no longer consider the price of land
DEAL OF THE DAY: Trophy Residential Tower in Arlington, Va. Auctions for $118M
The Washington, D.C. office of HFF (Holliday Fenoglio Fowler LP says it has closed the sale of The Palatine, a 262-unit, Class A high-rise multi-housing community in Arlington, Va. Crescent Heights of America was the successful bidder at the foreclosure auction and purchased the property for $118 million.
DeWitt Asks Congress Not to Forget Multifamily in Reforming GSEs
Affordable and workforce housing will be critical in the 2010s
Magnusson Planning and Architecture Launches Green Consulting Division
Magnusson Architecture and Planning recently introduced MAP Green, a division specializing in green consulting servic
Condos Defy Housing Trend, See Sales Uptick
Condo sales nationwide were up 4.8 percent in February compared with January,
USGBC, Sierra Club Volunteers Initiate Green Building Tours
Local volunteers of the Sierra Club and the U.S. Green Building Council have started conducting public tours of green buildings across the country.
Apartment Rents Rise in Many Markets
Apartment rents haven’t declined as much as commonly supposed,
DEAL OF THE DAY: Eastern Consolidated Completes $8.1M in Sales of Construction Loans for Stalled Condo Projects
Brooklyn, N.Y.—Eastern Consolidated brokered the purchase of defaulted loans to make possible the development of two stalled luxury condominiums in the Williamsburg neighborhood Brooklyn. In two separate transactions, Eastern Consolidated Senior Director David Schechtman and Associate Geoff Rand, represented the buyer, Nachas 180, LLC, of the two loans obtained to cover the cost of constructing the condominiums. Both off-market deals sold for a combined $8.1 million, were completed on an all-cash basis and represent the recapitalization of the Williamsburg developments which were well-conceived, but fell prey to the market downturn in end-unit pricing, and high construction costs. The two new…