Northeast

55 Riverwalk Place in West New York, New Jersey
DevelopmentInvestment SalesNew JerseyNewsNortheast

IPA Capital Markets Arranges $174 Million in Acquisition Financing for Property in Suburban New York City

by Channing Hamilton

WEST NEW YORK, N.J. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $174 million in joint venture equity and debt financing for the acquisition of 55 Riverwalk Place, a 348-unit community in West New York, roughly nine miles north of New York City. The property is situated adjacent to the Hudson River and directly across from Manhattan. Built in 2006, 55 Riverwalk Place offers amenities such as a pool, fitness center, yoga studio, business center and grilling stations. According to the property website, units come in …

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Residences at Crosspoint in Lowell, Massachusetts
Investment SalesMassachusettsNewsNortheast

Osso Capital Purchases 240-Unit Residences at Crosspoint in Lowell, Massachusetts

by Channing Hamilton

LOWELL, MASS. — Osso Capital has acquired Residences at Crosspoint, a 240-unit property in Lowell, roughly 30 miles northwest of Boston. SMC Residences at Crosspoint Limited Partnership, a partnership created and operated by SMC Management Corp., sold the asset to Osso Capital for an undisclosed price. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller in the deal. Built in 2020, Residences at Crosspoint offers a mix of studio, one- and two-bedroom floor plans. The average unit size is 863 square feet. The six-story …

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The Greyson in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

TYKO Capital Provides $245 Million Construction Loan for Jersey City High-Rise Project

by Channing Hamilton

JERSEY CITY, N.J. — TYKO Capital has provided $245 million in construction financing for The Greyson, a 622-unit mixed-use community in Jersey City’s Journal Square neighborhood. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella and William Herring of Walker & Dunlop arranged the loan on behalf of the developer, Nasser Freres. Once completed in the first quarter of 2026, The Greyson will rise 28 stories. The building will house studio, one-, two- and three-bedroom apartments. Amenities will include a rooftop pool, fitness center, virtual reality and sports rooms and …

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ButterflyMX
FeaturesMidwestNortheastOperationsSoutheastTexasWestern

How Tech Upgrades are Expanding Access Control Solutions

by Channing Hamilton

Security is a top priority in the multifamily industry. Monitoring and controlling access to a property protects owners and their residents from the impacts of violent crime, theft, vandalism and trespassing. The benefits of an effective security, monitoring and access system run deep. “Access control is not just about security,” says Roger Solomon, a senior associate at Trio Advisory Group. The company offers consulting services on access control, video surveillance and other technologies for commercial real estate properties. “Access control is also about ensuring convenience for residents and staff, enhancing …

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FinanceInvestment SalesMarket ReportsNew JerseyNortheast

Investors, Take Note of New Jersey’s Millennial, Commuter Renter Demand

by Channing Hamilton

The New Jersey multifamily market continues to outperform across a variety of metrics. The state’s high population density combined with its proximity to major metropolitan areas like New York City and Philadelphia have bolstered demand for rental units, particularly among young professionals and commuters.  In addition to these factors, the region exhibits strong demographics that support the growth and stability of the multifamily market. This is in part due to the regional proximity to some of the country’s best universities, making New Jersey residents exceptionally well-educated.  Only three states have …

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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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900 Morrissey Blvd. in Boston
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

The Community Builders Secures Financing for Affordable Housing Redevelopment in Boston

by Channing Hamilton

BOSTON — The Community Builders has received an undisclosed amount of financing for an affordable housing redevelopment project in Boston. The project will convert the former Comfort Inn at 900 Morrissey Blvd. in the Dorchester area into a 99-unit complex that is designed to support individuals previously experiencing homelessness. Units will be reserved for households earning 30 percent or less of the area median income. The property will include office and community spaces on the ground floor. The development is slated for completion in mid-summer 2025. MassHousing provided the financing. …

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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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Affordable HousingInvestment SalesNew YorkNewsNortheast

Genesis Cos., Lemor Development Receive $71 Million Acquisition Financing for 664-Unit Affordable Housing Community in Harlem

by Channing Hamilton

NEW YORK CITY — Genesis Cos. and Lemor Development have secured $71 million in acquisition financing for Frederick Samuel Apartments, a 664-unit affordable housing asset in New York City’s Harlem neighborhood. The property consists of 40 residential buildings. Income restrictions for the apartments were not disclosed. The new ownership will renovate the community with a combination of passive park spaces, programmed urban farms, a new playground and community gardens provided by Harlem Grown. Heather Olson and Matthew Baptiste of Berkadia facilitated the 30-year permanent financing through Freddie Mac’s Bond Credit …

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46-10 Center Blvd. in New York City
FinanceNew YorkNewsNortheast

M&T Realty Capital Provides $204.9 Million Loan for Refinancing of Queens Apartment Tower

by Channing Hamilton

NEW YORK CITY — M&T Realty Capital Corp. has provided a $204.9 million Fannie Mae loan for the refinancing of a 26-story high-rise community in the Long Island City neighborhood of Queens. Michael Casey of M&T Realty Capital originated the debt on behalf of the borrower, locally based investment and development firm TF Cornerstone. The loan features a 35-year amortization schedule and full-term, interest-only payments. Located at 46-10 Center Blvd., the building comprises 584 apartments in studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, multiple lounge …

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