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Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

JLL Arranges $58M Loan to Refinance Newly Completed Property in Brooklyn

by Lynn Peisner

NEW YORK CITY — JLL has arranged a $58 million refinancing loan provided by Barings for 1333 Broadway, a 106-unit mixed-use property in Brooklyn’s Bushwick neighborhood. Ekstein Development Group and Standard Real Estate Investments were the borrowers. The project was completed in April. The 20-story property is comprised of 74 market-rate units, 32 affordable units and 29,000 square feet of commercial space. Rent caps were not disclosed. Peter Rotchford, Rob Hinckley and Robert Tonnessen led JLL’s team.

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DevelopmentFinanceNew JerseyNewsNortheast

CBRE Arranges $30.7M in Construction Financing for The Vail in West Caldwell, New Jersey

by Lynn Peisner

WEST CALDWELL, N.J. — CBRE has arranged $30.7 million in construction financing for The Vail, a 92-unit, four-story community at 780 Passaic Ave. in West Caldwell. Twenty percent of the units will be designated as affordable. Rent restrictions were not disclosed. The borrower is Accordia Real Estate, and the lender is Principal Financial. CBRE’s Matthew Pizzolato, Josh Stein, Jason Gaccione, Shawn Rosenthal, Jake Salkovitz, Lauren Weinstein and Justin Helbling led the financing. The property will feature a fitness center, coworking areas, a dog park, grilling stations and covered parking. A …

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DevelopmentNewsNortheastPennsylvania

Albion Residential Completes Pittsburgh Development

by Lynn Peisner

PITTSBURGH — Albion Residential has completed and opened Albion Lawrenceville, a 267-unit community in Pittsburgh’s Upper Lawrenceville neighborhood. The six-story property is comprised of studios, one- and two-bedroom units and 5,700 square feet of retail space. Amenities include a fitness center with boxing equipment, weights and a yoga studio; an arcade-game room with a bar; a rooftop terrace with lounge seating, grills and a fire pit; and a courtyard. Initial resident move-ins began in March. The architect was Harthorne and Plunkard, and First National Bank along with First Commonwealth Bank …

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FinanceNewsNortheastWashington, D.C.

Meridian Arranges $50M Refinancing for Lanston Views in D.C.

by Lynn Peisner

WASHINGTON, D.C. — Meridian Capital Group has arranged a $50 million loan through NewBridge Lending for Langston Views, a 671-unit community in Washington, D.C. The borrower is Chicago-based Clear Investment Group, which acquired the property from foreclosure in 2024 and has since completed renovations to units, amenities and building systems. Langston Views was constructed in 1966 and consists of two 12-story residential towers and multiple garden-style buildings.

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Investment SalesNew JerseyNewsNortheast

ICON Real Estate Advisors Arranges Sale in East Orange, New Jersey

by Lynn Peisner

EAST ORANGE, N.J. — Locally based ICON Real Estate Advisors has arranged the sale of a 26-unit property at 76 E. Park St. in East Orange, N.J. The asset traded between two LLCs for approximately $2.6 million. The deal was completed by David Oropeza, who advised the seller on the purchase more than 20 years prior. The seller was also advised by attorney Khoren Bandazian of Giordano, Halleran & Ciesla. The property comprises a two-story, 26-unit garden style building.

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Affordable HousingDevelopmentInvestment SalesNew JerseyNewsNortheast

WinnDevelopment Launches $33M Renovation of Atlantic City Affordable Housing Community

by Lynn Peisner

ATLANTIC CITY, N.J. — WinnDevelopment has begun a $33 million renovation at Garden Court Apartments in Atlantic City, a 177-unit, 20-building complex that has been housing much of the city’s workforce since it was constructed in 1985. WinnCos. secured Low-Income Housing Tax Credit equity through the New Jersey Housing and Mortgage Financing Agency, which will enable the units to remain affordable to renters earning no more than 80 percent of area median income for the next 45 years. Boston Financial Management purchased the tax credits. The scope of work includes …

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Modera-Paramus
DevelopmentNew JerseyNewsNortheast

Mill Creek Residential Breaks Ground on Westfield Mall Redevelopment in Paramus, New Jersey

by Lynn Peisner

PARAMUS, N.J. — Mill Creek Residential has broken ground on Modera Garden State Plaza, a mixed-use community in Paramus. Two separately branded residential buildings will contain a total of 575 units as well as 48,000 square feet of ground-floor retail space. The community will serve as a residential component of the redevelopment of Unibail-Rodamco-Westfield’s Garden State Plaza mall. Amenities will include a rooftop deck, resort-style pool, sauna, outdoor kitchen and dining space, grilling areas, fire pits, landscaped courtyards, resident clubhouse, coffee bar, game room, pool table and a fitness center …

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Affordable HousingCompany NewsNew YorkNewsNortheastPeople News

Enterprise Community Partners Hires Kim Darga to Lead New York Business

by Lynn Peisner

COLUMBIA, MD. — Enterprise Community Partners, a national nonprofit affordable housing developer, has hired Kim Darga as vice president and New York market leader. In this role, Darga will lead Enterprise’s work across New York State, including New York City. Prior to joining Enterprise, Darga most recently served as deputy commissioner for the Office of Development at the New York City Department of Housing and Preservation (HPD), the municipal housing agency serving the five boroughs of the New York City metro area. Darga worked for HPD for 18 years in …

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Affordable HousingDevelopmentNew YorkNewsNortheast

Global Holdings, MAG Partners Form JV for Manhattan Development

by Lynn Peisner

NEW YORK CITY — Global Holdings and MAG Partners have formed a joint venture to develop a ground-up project in Manhattan’s Hudson Square neighborhood at 122 Varick St. The 149-unit residential tower is being developed under a long-term ground lease with Trinity Church. The development will comprise approximately 192,000 square feet, including about 5,000 square feet of ground-floor retail. The project is being built under the 485-x program, which provides tax breaks to developers of buildings with six or more units that include affordable housing. Specific rent restrictions were not …

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Investment SalesMassachusettsNewsNortheast

Marcus & Millichap Arranges $8.7M Sale of 1920s Apartment Building in New Bedford, Massachusetts

by Lynn Peisner

NEW BEDFORD, MASS. — Marcus & Millichap has arranged the $8.7 million sale of Roosevelt Apartments in downtown New Bedford, about 58 miles south of Boston. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap marketed the property on behalf of the seller, a family office based in New Jersey, and procured the undisclosed buyer. Roosevelt Apartments consists 73 studio, one- and two-bedroom units. The six-story brick apartment building was built in 1924, sits on about a half-acre lot and includes 26 off-street parking spaces. The property is located at …

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