Northeast
Alexander Biagoli Appointed Director in Arbor’s NYC Office
Arbor Commercial Funding LLC has appointed Alexander Biagoli to director in Arbor’s New York City office. Biagoli is responsible for originating loans nationwide using Arbor’s complete product portfolio, with a specialty in Fannie Mae DUS and FHA transactions. He reports to Ken Fazio, vice president, National Sales Manager.
Lettire Presses on With NYC Affordable Housing
Private housing developers like Lettire Construction are pressing forward with affordable housing projects in the city.
MHN Interview with Stuart Saft: “There Will Be Large Number of MF Foreclosures by Mid-Year”
Stuart M. Saft is the new Chair of the Global Real Estate Practice at Dewey & LeBoeuf. He talks to MHN about the impending foreclosure crisis in the multifamily sector.
DEAL OF THE DAY: Forest City and Bernstein Management Joint Venture on 3 Properties at 6.5% Cap Rate
Washington, D.C. –Forest City Enterprises Inc. created a joint venture with Bernstein Management Corp. for ownership of three residential multifamily properties, totaling 1,340 rental units, in the Washington, D.C. metropolitan area.
Edge Principal Advisors Announces Multifamily Investment Platform
Edge Principal Advisors LLC has launched a multifamily investment platform. Edge will target institutional quality apartment communities located in select markets the firm expects to benefit from outsized rental demand over the next several years.
Maureen Friar Replaces Conrad Egan as President, CEO of NHC
Maureen Friar has been named president and CEO of the nonprofit National Housing Conference (NHC). Friar has established a distinguished and successful career in the housing field.
Forest City, Bernstein Management Strike JV for D.C. Apts.
Forest City Enterprises Inc. has formed a joint venture with Bernstein Management Corp.
Despite Challenges Posed by Economy, NYC Will Carry Out Plan to Build and Preserve 165,000 Affordable Housing Units by 2014
Mayor of New York, Michael Bloomberg, today reiterated his commitment to make the New Housing Marketplace Plan successful even in a weakened economy. The plan is to build and preserve165,000 units of housing–enough for half a million New Yorkers – by the year 2014.
DEAL OF THE DAY: CBRE Brokers Class AA Apts. Sale Transaction Between PREI and CBRE Investors
CB Richard Ellis arranged the sale of Mass Court, a 371-unit Class AA luxury rental apartment property at 300 Massachusetts Avenue, NW, in Washington, D.C.’s East End.
NY Rent-Freeze Bill Draws Fire
It didn’t take long for the bill (S. 6811) introduced last week by New York State Senate Majority Leader Pedro Espada Jr. to attract detractors, most visibly a young woman holding a sign next to Sen. Espada at his press conference announcing the bill.