SOMERVILLE, N.J. — TTFE Properties has completed Kirby Village, a 174-unit development in Somerville, about 50 miles southwest of Manhattan. The property includes one- and two-bedroom townhome-style units that range in size from 800 to 1,452 square feet. Units feature stainless steel appliances, quartz countertops and individual washers and dryers. Monthly rents begin at roughly $2,400 for a one-bedroom unit. Community amenities include a pool, fitness center, dog park and a children’s play area.
BRUNSWICK, MAINE — Jones Street Investment Partners, a private equity real estate firm headquartered in Boston, has broken ground on a 64-unit project in Brunswick, 26 miles north of Portland, Maine. The project represents the second phase of Atlantic Pointe. Phase I comprised 181 units. Phase II will include four buildings that will house one- and two-bedroom units. Planned amenities at Atlantic Pointe include a fitness center, business center, dog park and package lockers. Phase II is slated to complete in summer 2025.
ELIZABETH, N.J. — SAGE Investment Real Estate Advisors (SAGE) has arranged the sale of a 31-unit property located at 105 Grove St. in the Elmora neighborhood of Elizabeth. Built in 1927, 105 Grove St. offers exclusively one-bedroom units. The asset traded for $4.2 million. Steve Tragash of SAGE represented the seller, a private individual, and procured the buyer, a private investor.
NEW YORK CITY — Walker & Dunlop (NYSE: WD) has arranged the $148 million refinancing of The Victoria, a mixed-use property in the Harlem neighborhood of Upper Manhattan. The project was constructed around the neighborhood’s historic Victoria Theater. According to Walker & Dunlop, The Victoria is the tallest building in Harlem. The Victoria comprises 191 apartments, as well as 23,000 square feet of retail space, a 211-room Marriott-branded hotel and 52 below-grade parking spaces. The 30-story building was completed in the third quarter of 2023. Aaron Appel, Keith Kurland, Jonathan …
HARTFORD, CONN. — Locally based Chozick Realty has brokered the $12.9 million sale of a portfolio of eight buildings totaling 176 units in Hartford. The properties are all located near the Aetna Insurance campus in Hartford’s downtown area. Approximately half of the units were recently renovated. Steve Pappas and Jordan Pinto of Chozick Realty represented the seller and procured the buyer in the deal. Both parties were regional investment firms.
YONKERS, N.Y. — Redwood Realty Advisors has arranged the $2.6 million sale of an 18-unit portfolio in Yonkers. The portfolio comprises eighteen units across multiple buildings at 53 & 74-76 Glenwood Ave. Michael Scrima and Thomas Gorman of Redwood Realty Advisors represented both the buyer and seller in the deal. Neither party’s name was disclosed.
JERSEY CITY, N.J. — JLL Capital Markets has arranged $13.1 million in construction financing for the development of Vroom Street Apartments, a 42-unit project in the Journal Square neighborhood of Jersey City. JLL worked on behalf of the borrower, Urban Square Properties, to secure the two-year loan through First Bank. Max Custer and Salvatore Buzzerio led the JLL Capital Markets Debt Advisory team. The unit mix at Vroom Street Apartments will include five studio units, 14 one-bedroom units and 23 two-bedroom units. The average unit size will be 913 square feet. …
NEW YORK CITY — A partnership consisting of BFC Partners, CB Emmanuel, nonprofit organization Catholic Homes, Pinnacle City Living and the New York City Housing Authority (NYHCA) has secured $332.3 million in financing for the redevelopment of West Brighton I and II on Staten Island. The project will rehabilitate 574 affordable housing units that are home to more than 1,300 residents. The development team will also reactivate 24 vacant units, with 12 restored as permanently affordable units and 12 converted into a new senior center. Planned renovations to West Brighton …
NEW YORK CITY — Marcus & Millichap has brokered the sale of a portfolio of three properties in Manhattan’s East Village neighborhood. Located at 129 Second Ave. and 36 Saint Marks Place, the buildings all rise six stories. The portfolio totals 59 apartments, as well as 10 retail units. Ryco Capital sold the portfolio to Jonis Realty for $29 million. Both parties are locally based. Joe Koicim, Logan Markley, Zan Colin and Matt Berger of Marcus & Millichap represented the seller and procured the buyer.
JERSEY CITY, N.J. — CBRE has arranged the sale of Lenox and Quinn, two adjacent properties totaling 408 units located in the Paulus Hook neighborhood of Jersey City. Houston-based investment manager Hines Interests purchased both assets from institutional investors advised by J.P. Morgan Asset Management for $221.5 million. Lenox was built in 2017 and comprises 255 units. The property also includes a 257-space automated parking garage. Built in 2018, Quinn totals 153 units. Both communities feature amenities such as a rooftop with BBQ gas grills and a pool, resident lounge, …
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