Northeast

Forge-Lenox
Affordable HousingDevelopmentMassachusettsNewsNortheast

Pennrose Opens Mixed-Income Property in the Berkshires

by Lynn Peisner

LENOX, MASS. — Pennrose has completed and opened Forge, a mixed-income community in Lenox. The 65-unit Forge includes 13 townhome-style buildings offering one-, two- and three-bedroom units, 50 of which are reserved for households earning 30 to 60 percent of area median income (AMI). Nine homes are reserved for tenants who qualify for Massachusetts Rental Voucher Program (MRVP) assistance, a state-funded rental subsidy. Fifteen units are designated as workforce housing, for households earning up to 120 percent of AMI. Funding came from a variety of public and private sources. Pennrose …

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2-South-Main-Port-Chester
DevelopmentFinanceNew YorkNewsNortheast

Developers Secure $147.5M for 12-Story Development in Port Chester, N.Y.

by Lynn Peisner

PORT CHESTER, N.Y. — Walker & Dunlop has arranged $147.5 million in debt and equity for the construction of 2 South Main, a 12-story, 322-unit property with 5,000 square feet of retail in Port Chester. Hyperion Group and AIP are the developers, and LRC Construction is the general contractor. Winter Properties also is a partner in the project. Construction will begin in the fourth quarter of 2026. A completion date was not disclosed. Walker & Dunlop’s Mo Beler, Jonathan Paine, Cory Elbaum, Jackson Irwin and Dawson Jessee arranged the equity …

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The-Atwood-Pleasantville
Investment SalesNew YorkNewsNortheast

IPA Arranges Sale of The Atwood in Pleasantville, New York

by Lynn Peisner

PLEASANTVILLE, N.Y. — IPA has arranged the sale of The Atwood, a 71-unit community in Pleasantville, about 32 miles north of Manhattan. Neither buyer, seller nor sales price was disclosed. Eric Pentore and Victor Nolletti led IPA’s team. Completed in 2023, The Atwood has a fitness center with a steam room and sauna, community lounge and a rooftop entertainment terrace with built-in grills, TVs and fire pits. Apartments feature in-unit washers and dryers, and select residences include walk-in closets with custom built-in shelving. The property’s average unit size is approximately …

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Eliot-on-ocean-Revere
DevelopmentFinanceNewsNortheast

Invictus Obtains $67.3M Loan for Renovations to Metro Boston Beachfront Property

by Lynn Peisner

REVERE, MASS. — JLL has arranged a $67.3 million refinancing loan through Bridge Investment Group Holdings for Eliot on Ocean, a 194-unit waterfront property along Revere Beach in Revere, Massachusetts. The borrower was New York City-based Invictus Real Estate Partners. Built in 2016, Eliot on Ocean is adjacent to the MBTA Wonderland Blue Line train station and features ocean views. Invictus plans to apply loan proceeds to renovations targeting common areas and unit interiors. Common area improvements will enhance the lobby, amenity spaces, fitness center and beachfront terrace. The unit …

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Parkside-Commons-Syracuse
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

BFC Partners and SAA Canopy Group Secure $269M to Finance Affordable Housing Redevelopment in Syracuse, New York

by Lynn Peisner

SYRACUSE, N.Y. — BFC Partners and SAA Canopy Group have obtained $269 in financing for the redevelopment of the Parkside Commons housing complex in Syracuse. The developers will deliver 393 affordable apartments via renovated and newly constructed units. Rent restrictions were not disclosed The property currently consists of 10 buildings. With this construction financing, the development team will renovate six of those buildings and construct two new ones. Existing tenants who live in the four oldest structures, which eventually will be demolished, will relocate to the two new buildings. Financing …

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12-Halsey-Brooklyn
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

EJS, Hope Street Secure $137.5M ReFi for Brooklyn Development

by Lynn Peisner

NEW YORK CITY — Walker & Dunlop has arranged a $137.5 million refinancing loan for 12 Halsey, a 240-unit mixed-income development in the Bedford-Stuyvesant neighborhood of Brooklyn. EJS Group and Hope Street Capital were the borrowers. The three-year, floating-rate loan was provided by AllianceBernstein. Walker & Dunlop’s Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Diaz, Michael Ianno and Cole Grims led the transaction team. Completed in October 2025, 12 Halsey comprises 240 residential units, with 30 percent designated as affordable under New York’s Affordable …

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Marine-Drive-Buffalo
Affordable HousingDevelopmentNew YorkNewsNortheast

Habitat Starts Construction of First Phase of $600M Affordable Housing Redevelopment in Buffalo, New York

by Lynn Peisner

BUFFALO, N.Y. — The Habitat Co., along with partners Duvernay + Brooks and Bridges Development, an affiliate of the Buffalo Municipal Housing Authority, has started construction of the first phase of the Marine Drive Apartments public housing redevelopment in Buffalo. The $250 million first phase will include 254 affordable apartments across four newly constructed residential buildings. Built in the 1950s, the existing seven-building Marine Drive public housing complex faced aging infrastructure and dated building systems. The three-phase redevelopment will replace the original 616 apartments with approximately 730 new homes. Phase …

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Park-Square-Yonkers
DevelopmentNew YorkNewsNortheast

Titan Real Estate Development Breaks Ground on $185M Park Square in Yonkers, New York

by Lynn Peisner

YONKERS, N.Y. — Titan Real Estate Development has broken ground on Park Square Yonkers, a $185 million development at 1 Loehr Place in Yonkers. The seven-story project will feature a mix of 192 studio apartments and 148 one-bedroom apartments. Residents will have access to such amenities as a 15,000-square-foot elevated private outdoor courtyard, a two-level fitness center, a business center with work stations, a lounge, a pet spa and several thousand square feet of dedicated resident storage located within the building. Construction is expected to take approximately 24 months. The …

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1000-Jefferson-Morristown
Investment SalesNew JerseyNewsNortheast

Clarion Partners Sells 1000 Jefferson in Hoboken, New Jersey

by Lynn Peisner

HOBOKEN, N.J. — JLL Capital Markets has arranged the sale of 1000 Jefferson, a 217-unit community in Hoboken. JLL represented Clarion Partners, the seller. Invesco Real Estate was the buyer. Built in 2007, the six-story property features 93 one-, 114 two- and 10 three-bedroom apartments. Amenities include a pool, 24-hour fitness center, a rooftop deck with views of Manhattan and a 217-space parking garage. Jose Cruz, Steve Simonelli, Mike Oliver, Elizabeth DeVesty, Austin Pierce and Luke Chakonis led JLL’s team.

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8-Carlisle-Manhattan
Company NewsDevelopmentFinanceNewsNortheastOperations

JLL Arranges $617M in Financing for Grubb Properties

by Lynn Peisner

NEW YORK CITY AND CHARLOTTE, N.C. — JLL has arranged $617 million in financing for Charlotte, North Carolina-based Grubb Properties, supporting the formation of a new real estate investment trust and the completion of a 64-story apartment tower in Manhattan’s Financial District. JLL’s mergers and acquisitions and corporate advisory group first advised on the merger of several legacy Grubb Properties funds and their rebranding as Link Apartments REIT. The approximately $1.9 billion Grubb Properties-managed REIT has a portfolio of 45 properties, including more than 5,600 multifamily units. In conjunction with …

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