Northeast

WinnDevelopment and Partners Launch Construction of $26M Renovation of Carroll Street Houses in Paterson, New Jersey

by Lynn Peisner February 23, 2026

PATERSON, N.J. — WinnDevelopment, ART-JIUS, a locally based developer, and Rising Dove Carroll Street Houses, a nonprofit affiliate of Paterson’s Second Baptist Church, have begun the redevelopment of Carroll Street Houses, an 88-unit affordable housing community in Paterson. The $26 million renovation of the townhome-style property, originally developed in 1977, is anticipated to be complete within 18 months. Residents will remain in-place during construction. The LIHTC project will ensure rents remain affordable to households earning at or below 80 percent of area median income for the next 30 years. Rising …

February 23, 2026

Development New Jersey News Northeast

LeCesse, MAS Development Group Obtain $83.4M for Phase II of Elizabeth, New Jersey, Project

by Lynn Peisner February 19, 2026

ELIZABETH, N.J. — LeCesse Development Corp. and MAS Development Group have begun construction of ECCO in Elizabeth. The project marks the second phase of Vintage City, which is a developer-branded live-work-play district anchored thus far by two multifamily properties from LeCesse and MAS. JLL arranged approximately $83.4 million in financing for the project in the form of a $63.2 million construction loan from Bank OZK and a $20.2 million mezzanine placement from PGIM. Phase I, known as Vinty, is a 267-unit property that was completed in 2022. ECCO, located at …

February 19, 2026

Finance News Northeast Washington, D.C.

Newmark Arranges $64M Refinancing of D.C. Adaptive Reuse Project

by Lynn Peisner February 19, 2026

WASHINGTON, D.C. — Newmark has arranged a $64 million refinancing loan for Elle, a newly developed office-to-residential conversion project in Washington, D.C. The 11-story multifamily community, which formerly served as the Peace Corps headquarters, opened in 2024 and was developed by Willco. The building is located in the Golden Triangle Business Improvement District (BID), a 44-square-block area that stretches from Dupont Circle to Pennsylvania Avenue. The Golden Triangle BID is a nonprofit that encourages economic development through capital improvement projects. Elle is comprised of 163 units, 8,000 square feet of …

February 19, 2026

Finance New Jersey News Northeast

JLL Capital Markets Arranges $296M Loan for New Jersey Portfolio

by Lynn Peisner February 18, 2026

MORRISTOWN, N.J. — JLL Capital Markets has arranged a $296 million Freddie Mac Loan for an undisclosed borrower to refinance a 13-property, 1,880-unit portfolio across New Jersey. The garden style assets feature market-rate units at properties located in five New Jersey counties: Middlesex, Somerset, Union, Monmouth and Morris. The properties were developed between 1959 to 1999. JLL Capital Market’s debt advisory team representing the borrower was led by Michael Klein, Thomas Didio Jr., Michael Mataras and Joseph Gruber.

February 18, 2026

Development Finance New York News Northeast

Affinius Capital Originates $90 Million Loan for Luxury Brooklyn Property

by Lynn Peisner February 18, 2026

NEW YORK CITY — Locally based developer Mordechai Pillar, owner of One Nine Rockwell in Brooklyn’s Fort Greene neighborhood, has obtained a $90 million refinancing loan. Affinius Capital was the lender. David Bollag of Meridian Capital Group arranged the financing. The proceeds of the loan will be used to complete lease-up and stabilization at One Nine Rockwell, a 27-story, 174-unit property with 1,200 square feet of ground-floor retail. The luxury building is comprised of 35 studios, 103 one-bedrooms and 36 two-bedrooms. The sky lounge on the 27th floor offers a …

February 18, 2026

Company News Investment Sales New Jersey News Northeast

Former Gebroe-Hammer Execs Launch Advisory Firm, Close First Deal

by Lynn Peisner February 17, 2026

WEST ORANGE, N.J. — David Oropeza and David Jarvis, former executives at Livingston, New Jersey-based brokerage firm Gebroe-Hammer, have founded ICON Real Estate Advisors. The new multifamily investment sales firm has arranged its debut transaction with the $35.1 million trade of The Grove at Piscataway, a 110-unit property in Piscataway. The asset, developed in 2020, was 100 percent occupied at the time of the sale. ICON represented the undisclosed seller in the deal and sourced a buyer that was completing a 1031 exchange. Oropeza spent 38 years at Gebroe-Hammer Associates. …

February 17, 2026

Affordable Housing Development New York News Northeast Operations

New York City Selects Development Team for 600-Unit Affordable Housing Project in North Manhattan

by Lynn Peisner February 16, 2026

NEW YORK CITY — The New York City Department of Housing Preservation and Development (HPD) has selected Slate Property Group, Xenolith Partners and Communilife to develop La Ostra on a vacant lot in Inwood, the northern-most neighborhood in Manhattan. The project will include 600 units, 200 of which will be reserved for seniors. All apartments will offer affordable rents. Specific income restrictions were not disclosed. The developers will also build a marine science and STEM education center that will be operated by the Billion Oyster Project, a nonprofit founded in …

February 16, 2026

Affordable Housing Development Investment Sales Massachusetts News Northeast

HVPG Acquires, Will Rehab Two Boston Properties for $52.5M

by Lynn Peisner February 13, 2026

BOSTON — New York City-based affordable housing firm Hudson Valley Property Group (HVPG) has acquired Boston Bay and Hope Bay, two adjacent affordable housing communities in the Dorchester neighborhood of Boston. The deal marks HVPG’s first in Massachusetts. The properties, located at 205 Magnolia St. (Boston Bay) and 5 Norwell St. (Hope Bay), consist of 20 buildings across two sites originally constructed between 1890 and 1920. Total project costs related to this preservation project are approximately $52.5 million, funded with a Fannie Mae loan provided by KeyBank. HVPG is planning …

February 13, 2026

Affordable Housing Development Massachusetts News Northeast

MassHousing and Partners Close Financing for 43-Unit Affordable Housing Development in Somerville, Massachusetts

by Lynn Peisner February 13, 2026

SOMERVILLE, MASS. — Affordable housing developer Just a Start and the Massachusetts Housing Finance Agency (MassHousing) have closed on financing for 24 Webster Avenue in Union Square. The project will include 43 units that will be constructed on a site that is currently a vacant commercial lot. The units will be reserved households earning between 30 and 60 percent of area median income. The general contractor is Dellbrook | JKS, the architect is ICON Architecture Inc., and the management agent will be Maloney Properties. New Seasons Development LLC is a …

February 13, 2026

Development Finance Investment Sales New York News Northeast

Tavros Acquires Undeveloped Full-Block Manhattan Site for 600-Unit Project

by Lynn Peisner February 12, 2026

NEW YORK CITY — Tavros, a locally based private investor and developer, has acquired 250 Water Street, a 1-acre site in Manhattan’s Seaport neighborhood for $143 million. Tavros is planning to build a ground-up, 600-unit multifamily project on the land. Twenty-five percent of the units will be offered at to-be-announced affordable monthly rents. The community will be anchored by four floors of retail. Fogarty Finger is the architect. A construction timeline was not disclosed. JLL represented the undisclosed seller in the deal and advised Tavros on a pre-development loan provided …

February 12, 2026

Newer Posts

Older Posts