Northeast
Melrose Commons Earns First Stage II LEED-ND Silver in NYS
The United States Green Building Council (USGBC) has awarded LEED
DEAL OF THE DAY: NorthMarq Completes $38M in Co-op, Perm & Acquisition Financing
NorthMarq Capital arranged an $8,900,000 permanent loan
DEAL OF THE DAY: Marcus & Millichap Brokers $11.7M Sale of Property in Washington, D.C.
Marcus & Millichap Real Estate Investment Services sold The New Amsterdam, a 75,375-square foot multifamily and retail asset in Washington, D.C. The sales price of $11,750,000 represents $156 per square foot, or $130,556 per unit.
Palmer Hill Partners Adds New Phase to Conn. Devp.
Palmer Hill Partners is now preparing for a new phase of construction on the Palmer Hill luxury condominium community in Stamford, Conn., which will consist of a second condominium building with 27 homes, and 20 new townhomes.
New Miami Beach Condos Looking for Buyers
A revived condo development called Terra Beachside 6000 Collins, which is the only major condo project under way in the city of Miami Beach, according to its developer, has kicked off its sales effort.
DEAL OF THE DAY: Arbor Closes $1.615M Fannie Mae Small Loan for Apartment Complex
Arbor Commercial Funding LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage LLC, recently helped fund a $1,615,000 loan under the Fannie Mae DUS product line for the 43-unit Sunny Knoll Apartments in Seymour, Conn.
Lightstone Securities Taps Axtell to Head Northwest Region
Lightstone Securities has named Jesse Axtell vice president and northwest regional manager.
Freddie Mac Mulls Mezz Lending Plan
Dees Stribling, Contributing Editor McLean, Va.–Freddie Mac is formulating a new program to work with mezzanine lenders to expand the GSE’s multifamily mortgage origination program. According to Freddie Mac spokeswoman Patti Boerger, the details of the program aren’t finalized yet, but probably will be next month. The overall thrust of the program, however, is well defined. “The mezzanine financing would be provided by a third party and we would work with several mezzanine providers for the program,” Boerger tells MHN. “This would be a mezzanine debt solution for the refinancing of over-leveraged apartment properties.” Under the program, a select number…
DEAL OF THE DAY: NorthMarq Capital Arranges $18M Freddie Mac Loan for Manhattan Apartment Building
Craig Bjornsund, senior vice president and managing director of NorthMarq Capital’s (NorthMarq) New York Metro Regional office arranged first mortgage financing in the amount of $18 million for 2161-2169 Broadway (235-241 W. 76th Street) in Manhattan.
New Rental in Manhattan’s Hudson Yards
TF Cornerstone has opened 505W37, a rental project in Manhattan’s Hudson Yards.