New York

KABR Group Buys Port Chester, New York, Property for $30.7 Million

by Lynn Peisner December 22, 2025

PORT CHESTER, N.Y. — KABR Group has acquired 1 North Main Street in Port Chester for $30.7 million. The seller was an entity affiliated with G&S Investors and Robert Martin Co., which developed the 209-unit property between 2020 and 2022. The JLL Capital Markets team representing the seller was led by Jose Cruz, Jeffrey Julien, Steve Simonelli and Austin Pierce. The asset features five stories of market-rate apartments and 7,630 square feet of ground-floor retail. The new owners will be party to a PILOT (Payment In Lieu Of Taxes) agreement …

December 22, 2025

Development Finance New York News Northeast

JV Secures $384 Million for Jersey City Waterfront High-Rise Development

by Lynn Peisner December 22, 2025

JERSEY CITY, N.J. — Panepinto Properties and AJD Construction have secured $306 million in senior non-recourse construction financing and $78 million in preferred equity for the land purchase and vertical construction of Harborside 8, a 678-unit, luxury waterfront development along the Hudson River in Jersey City. JLL’s Capital Markets group arranged the floating-rate senior loan through Kennedy Wilson. JLL also arranged the preferred equity through Affinius Capital. The development partners plan to break ground in the first quarter of 2026 with stabilization estimated for the first quarter of 2030. The 65-story …

December 22, 2025

Affordable Housing Development New York News Northeast

The Habitat Co. to Break Ground in Spring on $600 Million Redevelopment of Buffalo Waterfront

by Lynn Peisner December 19, 2025

BUFFALO, N.Y. — The Habitat Co. has closed on financing for Marine Drive Apartments in downtown Buffalo. The project will mark the start of a three-phase, $600 million redevelopment of the historic waterfront site, which will include infrastructure work, that will be led by Habitat in partnership with Duvernay + Brooks and Bridges Development, an affiliate of the Buffalo Municipal Housing Authority (BMHA). The Phase I project cost is approximately $208 million. It is financed through public-private partnerships between Enterprise Community Partners, Buffalo-based M&T Bank and New York State Homes …

December 19, 2025

Affordable Housing Development Finance New York News Northeast

Berkadia Arranges $32.4 Million Loan for The Stagg Group

by Lynn Peisner December 2, 2025

NEW YORK CITY — Berkadia has arranged a $32.4 million Freddie Mac construction take-out loan on behalf of The Stagg Group. The affordable housing developer, owner and investor will use the funds to retire the existing construction loan on The Riverdale Tower. The 89-unit property is 100 percent occupied. Berkadia’s Matt Nihan arranged the financing. Located at 3745 Riverdale Ave., The Riverdale Tower was completed in 2024 and is an 18-story high-rise offering a mix of studio, one- and two-bedroom units ranging from 400 to 900 square feet. The property …

December 2, 2025

Development New York News Northeast

Slate, Pi Capital Plan 95-Unit Luxury Project Across from Empire State Building

by Lynn Peisner November 17, 2025

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 …

November 17, 2025

Affordable Housing Development Finance New York News Northeast

Greystone Provides $114.5 Million Bridge Loan for Queens Affordable Housing Redevelopment

by Lynn Peisner November 6, 2025

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.

November 6, 2025

Affordable Housing Development New York News Northeast

New York City Selects RYBAK for $350 Million Coney Island Redevelopment Project

by Lynn Peisner October 31, 2025

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 …

October 31, 2025

Investment Sales New York News Northeast

Veris Residential Sells Quarry Place in NYC Metro for $63 Million

by Lynn Peisner October 31, 2025

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 …

October 31, 2025

Leasing & Marketing New York News Northeast

Leasing Underway at Brooklyn’s Sky Three Residences Club

by Lynn Peisner October 27, 2025

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, …

October 27, 2025

Development Finance New York News Northeast

Slate Property Group Secures $64 Million Refinancing for Brooklyn Project

by Lynn Peisner October 24, 2025

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 …

October 24, 2025

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