Northeast

Jonathan Treble, Founder and CEO of WithMe Inc.

Amenities Anchor Communities, Foster Live-Work-Play Environment

by Channing Hamilton August 2, 2024

— By Jonathan Treble, Founder and CEO of WithMe Inc. In today’s multifamily landscape, amenities play a pivotal role that goes beyond attracting and retaining prospective residents. The right amenity package can enhance residents’ daily experience, nurture a thriving sense of community and ultimately increase the asset’s overall value. By thoughtfully outfitting an asset with the right amenities, property owners and operators can cater to today’s renters’ live-work-play and remote-work lifestyles. Modern Renters Desire “Third Spaces” Post-pandemic, the traditional boundaries between home, office and social spaces have blurred. Remote and …

August 2, 2024

Development New York News Northeast

American Lions Begins Leasing 164-Unit The Bold in Queens

by Channing Hamilton August 1, 2024

NEW YORK CITY — American Lions, a joint venture between locally based developers Fetner Properties and Lions Group, has begun leasing The Bold. The building rises 28 stories and is located at 2701 Jackson Ave. in the Long Island City area of Queens. The Bold comprises 164 apartments in studio, one-, two- and three-bedroom layouts. Of the total unit count, 50 have been set aside as affordable housing. Income restrictions for these units were not disclosed. Amenities include a coworking lounge, gym with a climbing wall, party room with a …

August 1, 2024

Finance New York News Northeast

Newmark, Greystone Arrange $560 Million Refinancing for 60-Story 3ELEVEN in Manhattan

by Channing Hamilton August 1, 2024

NEW YORK CITY — Newmark Group Inc. and Greystone Capital Advisors have arranged $560 million in floating-rate debt for the refinancing of 3ELEVEN, a 60-story high-rise community located just south of Manhattan’s Hudson Yards district. Ares Management and Douglaston Development were the borrowers. Jordan Roeschlaub and Nick Scribani of Newmark, in collaboration with Jonathan Firestone, Drew Fletcher, Paul Fried and Bryan Grover of Greystone Capital Advisors, arranged the debt. The financing will repay the HSBC construction loan. 3ELEVEN comprises 938 apartments in studio through three-bedroom layouts. Community amenities include a pool with cabanas, …

August 1, 2024

Development New Jersey News Northeast

TFE Properties Completes 174-Unit Kirby Village in Somerville, New Jersey

by Channing Hamilton July 26, 2024

SOMERVILLE, N.J. — TFE Properties has completed Kirby Village, a 174-unit development in Somerville, about 50 miles southwest of Manhattan. The property includes one- and two-bedroom townhome-style units that range in size from 800 to 1,452 square feet. Units feature stainless steel appliances, quartz countertops and individual washers and dryers. Monthly rents begin at roughly $2,400 for a one-bedroom unit. Community amenities include a pool, fitness center, dog park and a children’s play area.

July 26, 2024

Development Maine News Northeast

Jones Street Investment Partners Breaks Ground on 64-Unit Project in Brunswick, Maine

by Channing Hamilton July 25, 2024

BRUNSWICK, MAINE — Jones Street Investment Partners, a private equity real estate firm headquartered in Boston, has broken ground on a 64-unit project in Brunswick, 26 miles north of Portland, Maine. The project represents the second phase of Atlantic Pointe. Phase I comprised 181 units. Phase II will include four buildings that will house one- and two-bedroom units. Planned amenities at Atlantic Pointe include a fitness center, business center, dog park and package lockers. Phase II is slated to complete in summer 2025.

July 25, 2024

Investment Sales New Jersey News Northeast

SAGE Brokers $4.2 Million Sale of 31-Unit Property in Elizabeth, New Jersey

by Channing Hamilton July 25, 2024

ELIZABETH, N.J. — SAGE Investment Real Estate Advisors (SAGE) has arranged the sale of a 31-unit property located at 105 Grove St. in the Elmora neighborhood of Elizabeth. Built in 1927, 105 Grove St. offers exclusively one-bedroom units. The asset traded for $4.2 million. Steve Tragash of SAGE represented the seller, a private individual, and procured the buyer, a private investor.

July 25, 2024

Finance New York News Northeast

Walker & Dunlop Arranges $148 Million Refinancing for The Victoria in Harlem

by Channing Hamilton July 24, 2024

NEW YORK CITY — Walker & Dunlop (NYSE: WD) has arranged the $148 million refinancing of The Victoria, a mixed-use property in the Harlem neighborhood of Upper Manhattan. The project was constructed around the neighborhood’s historic Victoria Theater. According to Walker & Dunlop, The Victoria is the tallest building in Harlem. The Victoria comprises 191 apartments, as well as 23,000 square feet of retail space, a 211-room Marriott-branded hotel and 52 below-grade parking spaces. The 30-story building was completed in the third quarter of 2023. Aaron Appel, Keith Kurland, Jonathan …

July 24, 2024

Connecticut Investment Sales News Northeast

Chozick Realty Arranges $12.9 Million Sale of 176-Unit Portfolio in Hartford, Connecticut

by Channing Hamilton July 23, 2024

HARTFORD, CONN. — Locally based Chozick Realty has brokered the $12.9 million sale of a portfolio of eight buildings totaling 176 units in Hartford. The properties are all located near the Aetna Insurance campus in Hartford’s downtown area. Approximately half of the units were recently renovated. Steve Pappas and Jordan Pinto of Chozick Realty represented the seller and procured the buyer in the deal. Both parties were regional investment firms.

July 23, 2024

Investment Sales New York News Northeast

Redwood Realty Advisors Brokers $2.6 Million Sale of 18-Unit Portfolio in Yonkers, New York

by Channing Hamilton July 22, 2024

YONKERS, N.Y. — Redwood Realty Advisors has arranged the $2.6 million sale of an 18-unit portfolio in Yonkers. The portfolio comprises eighteen units across multiple buildings at 53 & 74-76 Glenwood Ave. Michael Scrima and Thomas Gorman of Redwood Realty Advisors represented both the buyer and seller in the deal. Neither party’s name was disclosed.

July 22, 2024

Development Finance New Jersey News Northeast

JLL Capital Markets Arranges $13.1 Million in Construction Financing for Vroom Street Apartments in Jersey City, New Jersey

by Channing Hamilton July 18, 2024

JERSEY CITY, N.J. — JLL Capital Markets has arranged $13.1 million in construction financing for the development of Vroom Street Apartments, a 42-unit project in the Journal Square neighborhood of Jersey City. JLL worked on behalf of the borrower, Urban Square Properties, to secure the two-year loan through First Bank. Max Custer and Salvatore Buzzerio led the JLL Capital Markets Debt Advisory team. The unit mix at Vroom Street Apartments will include five studio units, 14 one-bedroom units and 23 two-bedroom units. The average unit size will be 913 square feet. …

July 18, 2024

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