Friday, February 21, 2025
Read the Digital Magazines Subscribe to the Newsletter

New York

18-Property Portfolio in New York City
FinanceNew YorkNewsNortheast

Walker & Dunlop Arranges $110 Million Loan for Refinancing of 18-Property Portfolio in New York City

by Channing Hamilton

NEW YORK CITY — Walker & Dunlop has arranged a $110 million loan for the refinancing of a portfolio totaling 112 units across 18 communities in New York City. The portfolio also includes 29 commercial spaces. The properties are located in areas such as Manhattan’s East Village neighborhood and Brooklyn’s Park Slope district. The borrower was a partnership between Davean Holdings and Meadow Partners. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Sean Bastian, Christopher de Raet, and Stanley Cayre of Walker & Dunlop arranged the loan. The terms …

Continue Reading
0 FacebookTwitterLinkedinEmail
210-220 E. 22nd Street in New York City
Investment SalesNew YorkNewsNortheast

Joint Venture Purchases 204-Unit Building in Manhattan for $104.5 Million

by Channing Hamilton

NEW YORK CITY — JLL has arranged the $104.5 million sale of a 204-unit property located at 210-220 E. 22nd Street in Manhattan’s Gramercy Park neighborhood. The building consists of 204 units across seven stories. The unit mix includes 82 studios, 75 one-bedroom units, 39 two-bedroom residences and eight three-bedroom apartments. Amenities include a fitness center, resident lounge and onsite laundry facilities. The property was 95 percent occupied at the time of sale. Andrew Scandalios, Jeffrey Julien, Rob Hinckley and Steven Rutman of JLL represented the undisclosed seller in the …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $5 Million Sale of 13-Unit Property in Hell’s Kitchen

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has arranged the sale of a 13-unit property located in the Hell’s Kitchen neighborhood of Midtown Manhattan. Built in 1920, the five-story building offers a mix of one-, two- and three-bedroom floor plans. Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap’s Manhattan office marketed the property on behalf of the seller and procured the buyer. Both parties were local private investors.

Continue Reading
0 FacebookTwitterLinkedinEmail
Sovereign Apartments in Fort Worth, Texas
FloridaGeorgiaInvestment SalesKentuckyNew YorkNewsNortheastSouth CarolinaSoutheastTennesseeTexas

West Shore Secures $533 Million Refinancing for 2,806-Unit Sun Belt Portfolio

by Channing Hamilton

NEW YORK CITY — Newmark has arranged a $533 million loan for the refinancing of a portfolio spread across six states in the Sun Belt. Boston-based investment firm West Shore was the borrower. Citigroup provided the fixed-rate CMBS financing, which features a single-asset, single-borrower loan structure. Purvesh Gosalia, vice chairman of Newmark, secured the financing on behalf of West Shore.  The portfolio totals 2,806 units across nine garden-style properties. The assets include: Newmark is headquartered in New York City. The company also recently announced an assignment to market 10 multifamily …

Continue Reading
0 FacebookTwitterLinkedinEmail
329 East 9th Street in New York City
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Arranges $38 Million Sale of Mixed-Use Portfolio in Manhattan

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has arranged the $38 million sale of a six-building portfolio in Manhattan’s East Village neighborhood. The portfolio consists of 56 apartments and five commercial units across 49,513 square feet. Apartments come in one- through six-bedroom floor plans. The properties included in the portfolio are 329-335 East 9th Street and 516-518 East 13th Street. Edifice Partners/Holliswood and JSB Capital Group purchased the assets from The Kushner Cos. for $38 million. Joe Koicim, Logan Markley, Matt Berger and Zan Colin of the NYM Group of …

Continue Reading
0 FacebookTwitterLinkedinEmail
133 Eldridge St. in New York City
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $6 Million Sale of Mixed-Use Building in New York City

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has arranged the sale of a mixed-use property located at 133 Eldridge St. in New York City’s Lower East Side neighborhood. The building rises five stories and features ground-floor retail space with residential units above. The asset traded hands for $6 million. Joe Koicim and Logan Markley of Marcus & Millichap’s Manhattan office marketed the property on behalf of the undisclosed seller and procured the buyer, a local private investor with assets nearby.

Continue Reading
0 FacebookTwitterLinkedinEmail
Malt Drive in New York City
DevelopmentLeasing & MarketingNew YorkNewsNortheast

TF Cornerstone Begins Leasing 1,386-Unit High-Rise Project in Queens

by Channing Hamilton

NEW YORK CITY — TF Cornerstone has begun leasing Malt Drive, a 1,386-unit high-rise community in the Long Island City neighborhood of Queens. The development consists of two buildings. The South building at 2-20 Malt Drive rises 33 stories and comprises 575 units. The adjacent North building houses 811 apartments across two towers at 2-21 Malt Drive. Apartments come in studio, one- and two-bedroom layouts. Thirty percent of units will be set aside as affordable housing and will be leased at 130 percent of the area median income. Amenities include …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment SalesNew YorkNewsNortheast

Ariel Capital Advisors Arranges $3.6 Million Sale of Six-Unit Property in Brooklyn

by Channing Hamilton

NEW YORK CITY — Locally based brokerage firm Ariel Capital Advisors has arranged the $3.6 million sale of a six-unit property located at 151 Smith St. in the Boerum Hill neighborhood of Brooklyn. The building consists of five market-rate apartments and one rent-stabilized unit across four stories. Sean Kelly, Nicole Daniggelis and Stephen Vorvolakos of Ariel Property Advisors represented the seller, Doreen DeLeon, in the deal. The buyer was Faisal Kassim.

Continue Reading
0 FacebookTwitterLinkedinEmail
Barbara Jean Wright Court Apartments in Chicago
DevelopmentIndustry VoicesNew YorkNortheast

How to Pull Off a Large-Scale Rehab of an Occupied Property

by Channing Hamilton

When New York-based developer Jonathan Rose Cos. (JRC) acquired the Barbara Jean Wright Court Apartments in 2021, the 272-unit, low-rise, 40 percent Section 8 community in Chicago’s University Village neighborhood was in need of some serious repair.  Originally built in the 1970s and remodeled in 1999, the complex’s HVAC systems, flooring, kitchens, bathrooms and boilers were long past the point of needing a complete overhaul. The issue? The building was nearly fully occupied, which made this a tricker project than normal.  To pull off this occupied restoration, JRC needed a construction …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentFinanceInvestment SalesNew YorkNewsNortheast

IPA Capital Markets Arranges $75 Million Acquisition Financing for Manhattan Office-to-Multifamily Conversion Project

by Channing Hamilton

NEW YORK CITY — David Werner Real Estate Investments and Metro Loft Management have secured $75 million in acquisition financing for the former Pfizer headquarters in Midtown Manhattan. Max Herzog, Marko Kazanjian, Andrew Cohen and Max Hulsh of IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), arranged the financing through Northwind Group. The new ownership will convert the 10-story office building, which is situated at 219 E 42nd St., into an apartment community by combining it with the adjacent property at 235 E 42nd St. Once completed, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.