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Ogden Theater Apartments in New York City
Affordable HousingDevelopmentNew YorkNewsNortheast

Co-Developers Break Ground on $66 Million Affordable Housing Community in the Bronx

by Channing Hamilton

NEW YORK CITY — NCV Capital Partners and Unique People Services have broken ground on Ogden Theater Apartments, an 85-unit affordable housing development in the Highbridge neighborhood of the Bronx. Total capitalization for the project is $66 million. Located at 1415 Ogden Ave., Ogden Theater Apartments will feature 51 units of supportive housing for formerly homeless individuals, as well as 34 units for households who receive assistance paying rent through the Housing Choice Voucher program or who are earning at or below 60 percent of the area median income. Amenities …

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Loden in New York City
DevelopmentLeasing & MarketingNew YorkNewsNortheast

Carmel Partners Begins Leasing 569-Unit Development in Brooklyn

by Channing Hamilton

NEW YORK CITY — Carmel Partners has begun leasing Loden, a 569-unit development with 7,483 square feet of retail space located in the Crown Heights neighborhood of Brooklyn. Locally based firm MNS Real Estate will lead leasing and marketing for the development. Loden offers a mix of studio, one- and two-bedroom floor plans. Each apartment is equipped with stainless steel appliances, nickel fixtures and door hardware, quartz countertops and backsplash, washers and dryers and wood-grain plank flooring. The 17-story community features a courtyard and rooftop terrace, both of which feature …

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Sutphin II in Jamaica, New York
DevelopmentFinanceNew YorkNewsNortheast

Dwight Mortgage Provides $148 Million Construction Loan for Project in Jamaica, New York

by Channing Hamilton

JAMAICA, N.Y. — Dwight Mortgage Trust has provided a $148 million loan for the construction of Sutphin II, a 524-unit mixed-income project in Jamaica, roughly 15 miles east of New York City. Steven Hersko of the SHB Group arranged the financing on behalf of the developer, a partnership led by Moshe Braver. The 24-story building will offer 366 market-rate residences and 158 affordable housing units. Income restrictions for the affordable units were not disclosed. Upon completion, however, Sutphin II will quality for a 35-year 421-a tax abatement and Brownfield Redevelopment Tax …

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The Welz in New York City
DevelopmentNew YorkNewsNortheast

Slate, Avenue Realty Capital Deliver 19-Story Brooklyn Community

by Channing Hamilton

NEW YORK CITY — A joint venture between Slate Property Group and Avenue Realty Capital has completed The Welz, a 19-story, 162-unit community in the Williamsburg neighborhood of Brooklyn. Located at 159 Boerum St., the property offers a mix of studio, one- and two-bedroom units. Monthly rates start at $3,175 for a studio. Additionally, 49 residences have been set aside as affordable housing for residents earning between 60 to 130 percent of the area median income. Each unit features washers and dryers, a dishwasher, microwave, quartz countertops and stainless steel …

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2868 Webster Ave. in New York City
Affordable HousingDevelopmentNew YorkNewsNortheast

Douglaston Development Breaks Ground on Affordable Housing Project in the Bronx

by Channing Hamilton

NEW YORK CITY — Douglaston Development has broken ground on an affordable housing development located at 2868 Webster Ave. in the Bedford Park neighborhood of the Bronx. The 12 story building will consist of 277 units in studio, one-, two- and three-bedroom floor plans. The community will be available to households earning up to 70 percent of the area median income. Sixty units will be set aside as supportive housing. The project represents the second phase of a two-phase development, which also includes a 188-unit seniors housing complex that opened …

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Pratt Landing in New Rochelle
DevelopmentNew YorkNewsNortheast

Twining Properties to Break Ground on 850,000-Square-Foot Mixed-Use Project in New Rochelle, New York

by Channing Hamilton

NEW ROCHELLE, N.Y. — Twining Properties has received site approval for the construction of Pratt Landing, an 850,000-square foot mixed-use development, from the City of New Rochelle’s Planning Board. The approval, which concludes the entitlement phase of the project, allows for pre-construction demolition, environmental and other site work to begin. Located about 25 miles north of New York City along the Long Island Sound, Pratt Landing will consist of 383 rental apartments, as well as 99 condominiums, a 150-room hotel, 40,000 square feet of restaurant and retail space, 845 parking …

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DevelopmentFinanceNew YorkNewsNortheast

Merchants Capital Provides $129.1 Million for Renovation of NYCHA Projects in East Bronx

by Channing Hamilton

NEW YORK CITY — Merchants Capital has provided $129.1 million in financing for the New York City Housing Authority’s $419.6 million renovation of Boston Road Plaza, Boston Secor and Middletown Plaza (BBM) in the East Bronx. The three communities total 952 apartments across six residential buildings. The Bronx Revitalization Collaborative (BRC), a joint venture between Beacon Communities, Kalel Cos. and MBD Community Housing Corp., is leading the renovations. The project is currently underway and is slated for completion in 2026. Units will receive improvements to bathrooms and kitchens, as well …

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The Wimbledon in New York City
FinanceNew YorkNewsNortheast

KKR Provides $123 Million Loan for Refinancing of Manhattan Apartment Building

by Channing Hamilton

NEW YORK CITY — Global private equity firm KKR has provided a $123 million loan for the refinancing of The Wimbledon, a 214-unit complex located at 200 E. 82nd St. on Manhattan’s Upper East Side. The property offers one-, two- and three-bedroom units and includes 8,590 square feet of commercial space. Community amenities include a fitness center, outdoor theater, children’s playroom, package lockers and outdoor dining space. Jordan Roeschlaub and Chris Kramer of Newmark arranged the loan on behalf of the sponsor, Rockpoint Group.

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505 State Street in New York City
FinanceNew YorkNewsNortheast

Alloy Development Receives $290 Million Recapitalization for Brooklyn Residential Tower

by Channing Hamilton

NEW YORK CITY — Alloy Development has secured a $290 million recapitalization financing for 505 State Street, a 440-unit high-rise property in downtown Brooklyn. Christopher Peck, Peter Rotchford and Nicco Lupo of JLL Capital Markets worked on behalf of the borrower in arranging the five-year, fixed-rate senior loan through New York Life. Completed in 2024, 505 State Street comprises 318,589 rentable square feet. The property offers studio, one-, two- and three-bedroom floor plans. The average unit size is 659 square feet. Amenities include a fitness center, yoga studio, pool, communal …

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The winning team from the University of Florida
Affordable HousingFeaturesNew YorkNortheast

University of Florida Wins Multifamily Investment Case Competition by NYU | Stern, Berkadia

by Channing Hamilton

NEW YORK CITY — The University of Florida has won the inaugural Multifamily Investment Case Competition, a contest organized by Berkadia and the New York University Stern School of Business (NYU | Stern) for the team’s presentation, which proposed a hybrid debt and equity fund that leveraged the benefits of Florida’s Live Local Act (102). The Florida team recommended a $300 million hybrid debt and equity fund, dubbed The Gator Capital Workforce Housing Hybrid Fund. Roughly 70 to 80 percent of the fund would go towards the debt strategy, while …

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