Northeast

Agora
FinanceNewsNortheastWashington, D.C.

Walker & Dunlop Arranges $106.3 Million Refinancing for WC Smith

by Lynn Peisner

WASHINGTON, D.C. — Walker & Dunlop has arranged a $106.3 million Fannie Mae loan for WC Smith to refinance construction debt on Agora, a 334-unit property developed in 2018 in Washington, D.C.’s Capital Riverfront area. Walker & Dunlop’s team was led by Brendan Coleman and Connor Locke. WC Smith developed Agora as the second phase of The Collective, which is home to two other multifamily properties: Park Chelsea with 429 units and The Garrett with 373 apartments and 5,000 square feet of coworking space. Amenities for the three communities include …

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Valley-View-Park
DevelopmentNew JerseyNewsNortheast

KRE Group Completes Valley View Park in East Hanover

by Lynn Peisner

EAST HANOVER, N.J. — Kushner Real Estate (KRE) Group has completed construction of Valley View Park, a 239-unit community in East Hanover, about 27 miles west of New York City. Handel Architects designed the community in collaboration with Major Architects and Minno & Wasko Architects and Planners. There are more than 40 different floorplans available, and monthly asking rental rates start at approximately $2,500. All buildings at Valley View Park face a central green. Amenities include a pool, outdoor fireplaces, grills, outdoor dining areas and an outdoor bar, a gaming …

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Tuxedo-Related-Cos.
DevelopmentNew YorkNewsNortheast

Related Cos. Breaks Ground on Tuxedo Reserve in Hudson Valley

by Lynn Peisner

TUXEDO, N.Y. — The Related Cos. has begun construction of Tuxedo Reserve, a 1,200-acre mixed-use project with 92 apartments in Tuxedo, about 40 miles northwest of Manhattan. The project, designed by Aufgang Architecture, includes a downtown area called Main Street with four buildings, including the multifamily units, as well as an area called Market Square and The Village that will include retail, restaurant and entertainment space. Completion is slated for approximately early 2027. Amenities and future tenants at the project include a grocery store, café and a seasonal ice-skating rink …

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Jair Lynch
Affordable HousingDevelopmentFinanceNewsNortheastWashington, D.C.

Jair Lynch Secures Loans, Tax Credit Equity for D.C. Mixed-Income Development

by Lynn Peisner

ALEXANDRIA, VA. —Grandbridge Real Estate Capital, a subsidiary of Truist Financial Corp., has arranged $100 million in Freddie Mac loans on behalf of locally based Jair Lynch Real Estate Partners. In addition to the permanent financing, affiliates of Truist also served as a low-income housing tax credit equity investor for the transaction. The financing package includes a $38 million, tax-exempt loan and a $62 million taxable tail loan. The 15-year, fixed-rate loans and equity will finance the construction of a 310-unit, unnamed mixed-income project that will be built at 505 …

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Silverman-Group-Short-Hills
DevelopmentNew JerseyNewsNortheast

The Silverman Group Breaks Ground on The Estates At Short Hills

by Lynn Peisner

MILLBURN TOWNSHIP, N.J. — The Silverman Group, a real estate owner, investor, developer and manager based in Basking Ridge, N.J., has begun constructing The Estates at Short Hills about 30 miles west of New York City. Michels & Waldron Associates is the architect for the project, with construction by Silver Line Development. The 62-unit, four-story building will feature 10 one-bedroom, 49 two-bedroom and three three-bedroom residences. Amenities include a rooftop terrace, outdoor courtyard, fitness center, resident lounge and game room, package and mail rooms and garage bike storage. The first …

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275-Linden-Blvd
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Arranges Sale in Brooklyn for $10.8 Million

by Lynn Peisner

BROOKLYN, N.Y. — Marcus & Millichap has arranged the sale of 275 Linden Boulevard, a 101-unit building in Brooklyn, for $10.8 million. The transaction marks the first time the property has changed hands in approximately 60 years. Shaun Riney and Daniel Greenblatt, investment specialists in Marcus & Millichap’s Manhattan office, marketed the property and represented the unidentified seller. Seth Glasser, also with Marcus & Millichap, procured the buyer, a private family office out of California. Built in 1930, the six-story, 135,714-square-foot property includes three elevators. The building sits on a …

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Lofts-at-Princeton
DevelopmentLeasing & MarketingNew JerseyNewsNortheast

Garden Communities Completes Phase I of Lofts at Princeton

by Lynn Peisner

PRINCETON, N.J. — Locally based developer Garden Communities has completed the first phase of construction of Lofts at Princeton and is now leasing. The 154-unit community is about halfway between New York City and Philadelphia. Floor plans are offered as one- through three-bedroom layouts with monthly asking rents currently averaging $2,399. The community is being developed in three phases and will include a grand total of 656 apartments upon full completion, the date of which was not disclosed. Units feature patios or balconies, stainless-steel appliances and bathrooms with large vanities …

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The-Declan
DevelopmentNew JerseyNew YorkNewsNortheast

Rockpoint Opens Declan in Weehawken

by Lynn Peisner

WEEHAWKEN, N.J. — Rockpoint has opened The Declan in Weehawken. The 10-story, 298-unit property is located across the Hudson River from Manhattan. Floor plans are offered as studios and go up to three-bedrooms. According to Apartments.com, monthly rental rates range from $3,380 to $7,875. Units feature hardwood-style plank flooring, quartz countertops, stainless-steel appliances and private balconies, patios or terraces. Highlights from the long list of amenities include a landscaped courtyard with grills, an outdoor dining room, a double-sided fireplace and a gaming area. The property also is home to a …

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The-Rail-at-Bound-Brook
DevelopmentNew JerseyNewsNortheast

Denholtz, RWC Open The Rail at Bound Brook

by Lynn Peisner

BOUND BROOK, N.J. — Denholtz Properties and RWC have completed The Rail at Bound Brook, about 45 miles south of Manhattan. Construction of the 143-unit property, located at 100 Hamilton St., began in 2023. The six-story building offers studios and one- and two-bedroom units and amenities such as a fitness center, game room, courtyard and outdoor grilling and dining areas.

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Telestar Court
Affordable HousingDevelopmentFinanceNewsNortheastWashington, D.C.

Advantage Capital Arranges Tax Credits For $51 Million D.C.-Area Affordable Housing Redevelopment

by Lynn Peisner

FALLS CHURCH, VA. — Advantage Capital has secured $15 million in state low-income housing tax credits for Telestar Court, Conifer Realty’s office-to-residential redevelopment in Falls Church. The total project cost for the affordable housing project is $51 million. Advantage Capital arranged the tax credits in connection with the Virginia Housing Opportunity Tax Credit program, a tool for expanding the supply of affordable housing across the commonwealth. The former medical office building will be converted to an 80-unit community serving residents earning between 30 and 80 percent of area median income. …

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