NEW YORK CITY — Slate Property Group and Pi Capital Partners, a New York City-based real estate family office, have announced plans to develop a ground-up luxury apartment building at 335-339 Fifth Ave. in Midtown Manhattan directly across the street from the Empire State Building. The 95-unit property will be situated at the corner of Fifth Avenue and 33rd Street. Preliminary plans for the 18-story, 89,000-square-foot building call for 95 units ranging from studios to two-bedrooms, ground-floor retail and amenities. The parcel is currently a vacant lot that the Pi …
NEW YORK CITY — Greystone has provided a $114.5 million bridge loan on behalf of Iris Holdings Group for the acquisition and rehabilitation of The State Preservation Portfolio, a 753-unit affordable housing portfolio. The nine properties are located throughout the borough of Queens. Iris Holdings Group partnered with the New York City Department of Housing Preservation and Development to preserve and redevelop the portfolio for families of varying levels of income affordability for the next 40 years. Iris Holdings Group will be updating building systems and enhancing accessibility features.
BROOKLYN, NEW YORK — Following a request for proposals, the New York City Economic Development Corp. (NYCEDC) has selected RYBAK Development to build a 505-unit, mixed-income community on Surf Avenue between West 21st and 22nd streets in Coney Island. The project, named Tilyou Towers, was designed by Brooklyn-based IMC Architecture. RYBAK plans to begin construction in 2027 and estimates the project will be complete by 2030. The site was a former parking lot owned by the city. Twenty-five percent of the units at Tilyou Towers will be set as aside …
TUCKAHOE, N.Y. — Veris Residential has sold Quarry Place in Tuckahoe to Hines for $63 million in a transaction arranged by JLL Capital Markets. Tuckahoe is a village 20 miles north of Manhattan. Built in 2016, Quarry Place features 61 one- and 47 two-bedroom units and is currently 96 percent occupied. The 3,275 square feet of ground-floor retail is leased to Orangetheory Fitness. Amenities include a fitness center with a yoga room and spin studio, a clubroom with computer stations, a garden terrace with a fire pit and electric vehicle …
NEW YORK CITY — Cammeby’s International, in partnership with Rybak Development, has begun leasing Sky Three Residences Club, a three-tower, 1-million-square-foot project located at 532 Neptune Ave. in Brooklyn, less than a mile from Coney Island. The total project cost was not disclosed, however, the developers received a $252 million construction loan in July 2023. A portion of the residences are designated as affordable housing. The three-tower community offers 499 studio-to-three-bedroom units and 100,000 square feet of indoor and outdoor amenities that include a pool, a sauna, a massage room, …
NEW YORK CITY — Slate Property Group has secured a $64 million loan to refinance The Welz, a 162-unit community located at 159 Boreum St. in East Williamsburg, Brooklyn. Starwood Capital is providing the refinancing package. Daniel Fromm of Newmark represented Slate and co-owner Avenue Realty Capital (ARC) in the transaction, securing the three-year, floating-rate loan. Slate and ARC developed the property, opening it in February. It is currently 96 percent leased. Loan proceeds will be used to retire the existing construction loan, cover closing costs and complete the asset’s …
RIDGEFIELD PARK, N.J. — KABR Group and Hornrock Properties have broken ground on a six-story, 216-unit community at 95 Challenger Road that is set within Ridgefield Park’s Overpeck Corporate Center, a 60-acre mixed use development in Ridgefield Park, located five miles west of Manhattan. Designed by Minno & Wasko Architects and Planners, the building will feature a mix of studio, one- and two-bedroom residences, 22 of which will be set aside as affordable housing. Rent caps were not disclosed. Amenities will include an outdoor pool, a lounge and café, coworking …
Affordable HousingColoradoGeorgiaMarylandMidwestNew YorkNewsNortheastOhioOperationsSouth CarolinaSoutheastTexasVirginiaWesternWisconsin
WinnResidential Tapped to Manage 28-Property Affordable Housing Portfolio
INDIANAPOLIS — WinnResidential has been retained by KCG Cos. to operate 28 of the Indianapolis-based developer’s properties. Winn assumed leadership of operations and property management of 4,147 units in July and is expected to be selected to manage future communities over the coming year. KCG-owned workforce and affordable housing communities are located in Colorado, Georgia, Maryland, New York, Ohio, South Carolina, Texas, Virginia and Wisconsin. The company’s portfolio is comprised of approximately 34 communities. WinnResidential is the property management division of Boston-based WinnCompanies.
NEW YORK CITY — Cushman & Wakefield has hired Sherry Freitas as president of asset services in the multifamily division. In this role, Freitas will oversee operations across the country, managing a workforce of more than 4,000 people who serve residential property management clients. Freitas was a member of the board of directors for the Atlanta Apartment Association for 10 years, serving as board chair in 2021.
RONKONKOMA, N.Y. — TRITEC Real Estate has appointed Michael O’Leary as chief financial officer. O’Leary will oversee TRITEC’s financial strategy, planning and operations. He joins the company from RXR Realty, a New York City-based multi-sector owner, operator and investor, where he was executive vice president and chief financial officer. TRITEC Real Estate was founded in 1986 by brothers Robert and James Coughlan. The company consists of TRITEC Development Group, TRITEC Building Co. and TRITEC Asset Management, Inc. TRITEC acquires, develops, builds, finances, leases and property manages commercial real estate projects, …
Newer Posts