Northeast

Apollo Global Management Provides $275 Million Loan for Refinancing of 816-Unit Asset in Lower Manhattan

by Channing Hamilton March 5, 2025

NEW YORK CITY — Apollo Global Management has provided a $275 million loan for the refinancing of 63-67 Wall Street, an 816-unit complex consisting of two buildings in Lower Manhattan. Units come in studio, one and two-bedroom floor plans. Amenities include a fitness center, rooftop terrace with a lounge and grilling stations, game room, golf simulator, library, children’s playroom and business center. The buildings were originally constructed for office use: 67 Wall Street was built in 1921 as the headquarters for the Munson Shipping Co., while 63 Wall Street was completed …

March 5, 2025

Development News Northeast Operations Washington, D.C.

NMHC, NAA Send Letter to White House Urging Regulatory Reform to Improve Housing Affordability

by Channing Hamilton March 4, 2025

WASHINGTON, D.C. — The National Multifamily Housing Council (NMHC) and National Apartment Association (NAA) have sent a letter to the White House requesting a review of 32 federal programs, rules and regulations at 10 different agencies. NMHC and NAA stated that some existing regulations stray from their intended purposes, stifling innovation and hampering housing production. The purpose of the proposed review would be to increase housing supply, lower costs and improve housing affordability. “This past autumn, voters across the country made clear that lowering the cost of housing was a …

March 4, 2025

Finance New Jersey News Northeast

Alpine Residential Secures $81.2 Million Loan for Refinancing of Two Assets in Jersey City, New Jersey

by Channing Hamilton March 3, 2025

JERSEY CITY, N.J. — Alpine Residential has received $81.2 million in financing for Atlas and Starling, two properties located in the Bergen-Lafayette section of Jersey City. Thomas Didio, Thomas Didio Jr. and Michael Mataras of JLL Capital Markets originated the two five-year, interest only fixed-rate Freddie Mac loans. The proceeds will be used to take out the existing construction loans, which were also arranged by JLL. Located at 270 Johnston St., Atlas comprises 169 apartments, including 11 affordable units. The community was built in 2025. Starling is located at 66 Monitor St. and offers …

March 3, 2025

Features Finance From the Magazines Investment Sales Midwest Northeast Southeast Texas Western

Stage Set for Late-Year Uplift in 1031 Deals

by Channing Hamilton March 3, 2025

Late last summer, optimism ran steady across the multifamily investment sales market. Prior to the Federal Reserve’s initial rate cut in September 2024, interest rates had remained stable throughout the year. The outlook was positive. But that more ebullient market proved temporary. The Fed’s interest rate cut had a positive effect on the secured overnight financing rate (SOFR), which fell from 5.3 percent on Sept. 18, 2024, to 4.3 percent in early February 2025. The U.S. 10-year Treasury yield rose during the same period. On Sept. 18, 2024, the 10-year …

March 3, 2025

News Northeast Operations Washington, D.C.

HUD Could Terminate Half of All Staff Under Trump Administration’s Directive

by Channing Hamilton February 28, 2025

WASHINGTON, D.C. — The Trump administration is expected to terminate roughly half of all employees at the U.S. Department of Housing and Urban Development (HUD), according to a statement from the National Low Income Housing Coalition (NLIHC). In late January, the Trump administration directed all federal agencies to withhold federal assistance investments, including HUD funds such as grants and rental subsidies. After 48 hours, the administration rescinded its directive. President Trump signed an executive order on Feb. 11 implementing the Department of Government Efficiency (DOGE) workforce optimization initiative. The executive order …

February 28, 2025

Investment Sales Maryland News Northeast

Peterson Cos. Buys 8001 Woodmont in Bethesda, Maryland, for $194 Million

by Channing Hamilton February 28, 2025

BETHESDA, MD. — Fairfax, Virginia-based developer Peterson Cos. has purchased 8001 Woodmont, a 322-unit community in Bethesda, about seven miles north of Washington, D.C. JBG Smith Properties sold the property for $194 million. Robert Jenkins, Bret Thompson and Andrew Gemma of JLL Capital Markets represented the seller in the deal. Delivered in 2021, 8001 Woodmont offers a mix of one-, two- and three-bedroom floor plans. Residents have access to amenities such as a fitness center, rooftop terrace, outdoor pool and concierge services. The property also includes 19,452 square feet of …

February 28, 2025

Resident Retention at Risk webinar panelists

Features Industry Content Leasing & Marketing Midwest Northeast Operations Southeast Student Housing Technology Texas Webinar Western

Webinar: Resident Retention at Risk — How to Prevent Quiet Leaving

by Sarah Daniels February 28, 2025

The Feb. 25 webinar “Resident Retention at Risk — How to Prevent Quiet Leaving,” sponsored by Opiniion, brought together industry experts to discuss the most pressing challenges in multifamily and student housing and their strategies to improve resident satisfaction and retention. This one-hour discussion explored key factors influencing move-outs, including communication gaps, maintenance concerns and lease renewal hesitations. Speakers shared insights on effective property management strategies, community-building initiatives and engagement tactics that drive resident loyalty. The session highlighted best practices for feedback collection, strategic development and the role of online …

February 28, 2025

Scholars Village in Jersey City, New Jersey

Development Finance New Jersey News Northeast

Alpine Residential Receives $142.7 Million Construction Loan for Project in Jersey City, New Jersey

by Channing Hamilton February 27, 2025

JERSEY CITY, N.J. — Alpine Residential has received a $142.7 million construction loan and equity placement for Scholars Village, a 500-unit project in Jersey City. The development is situated at 189 Phillip St., adjacent to the Liberty Science Center and across from Liberty State Park. Scholars Village will consist of two 12-story buildings with 4,101 square feet of ground-level commercial space. The community will feature studio, one-, two- and three-bedroom floor plans. Planned amenities include a fitness center, coworking spaces and rooftop terraces. Thomas Didio, Thomas Didio Jr. and Michael Mataras …

February 27, 2025

Affordable Housing Development Finance New York News Northeast

Merchants Capital Provides $316 Million for Brooklyn Affordable Housing Development

by Channing Hamilton February 26, 2025

NEW YORK CITY — Merchants Capital has provided $316 million in financing for the second phase of Alafia, a 634-unit affordable and supportive housing project located in the East New York neighborhood of Brooklyn. The borrower is a partnership between RiseBoro Community Partnership Inc., L+M Development Partners and Apex Building Group. The financing package consists of a $192.7 million construction loan, which Bank of America provided in conjunction with Merchants Capital, as well as $174.8 million in 4 percent Low-Income Housing Tax Credit equity. Additionally, Merchants Capital provided $48.7 million …

February 26, 2025

Development Leasing & Marketing New Jersey News Northeast

The Hampshire Cos. Begins Leasing Ora in Hackensack, New Jersey

by Channing Hamilton February 25, 2025

HACKENSACK, N.J. — The Hampshire Cos. has launched leasing at Ora, a 270-unit complex in downtown Hackensack. The seven-story building features a mix of studio, one- and two-bedroom floor plans. Units feature in-unit washers and dryers, plank flooring, stainless steel appliances and quartz countertops. Monthly rents start at approximately $2,100 for a studio. Residents have access to a rooftop clubroom with a bar and billiards, outdoor terrace with fire pits and a courtyard with barbeque grills and dining areas. Additional amenities include a fitness center, coworking spaces and conference rooms, …

February 25, 2025

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