WOODBRIDGE TOWNSHIP, N.J. — Locally based Woodmont Properties has broken ground on Woodmont Rail at Metropark, a 300-unit, transit-oriented community in Woodbridge Township, located 30 miles south of Manhattan. Completion is expected in 2028. The six-story property will be made up of studios, one-, two- and three-bedroom units that feature Energy Star appliances, quartz countertops and balconies. Woodmont Rail at Metropark will include approximately 23,000 square feet of amenities, including a fitness center, a coworking center with conference rooms, a clubroom, multi-sport simulator, resort-style pool, rooftop bar and lounge, dog …
WEEHAWKEN, N.J. — Hartz Mountain Industries has completed development of The Reserve at Estuary, a 218-unit property in Weehawken’s Lincoln Harbor neighborhood. Located at 1525 Harbor Blvd., the seven-story community spans one city block fronting the Hudson River and offers studio to two-bedroom-plus-den layouts, with select homes featuring private balconies, patios or terraces. The architect was New Jersey-based MHS Architecture. The Reserve at Estuary includes about 40,000 square feet of indoor and outdoor amenities that include a resort-style pool and hot tub with a sundeck, a landscaped courtyard featuring lounge …
FAIRFAX, VA. — Middleburg and Capital City Real Estate have secured land and financing for The Botanist, a 260-unit community in the Washington, D.C., suburb of Fairfax. The Botanist will include a single seven-story residential building with 260 units on approximately 3 acres. Floor plans will be available in layouts ranging from one to three bedrooms. Amenities will include a resort-style pool, fitness center, coworking spaces, ground-floor retail and a parking garage. Completion is slated for the third quarter of 2027.
BOSTON — M&T Realty Capital Corp. has provided $44.8 million in funding for a 47-unit mixed-income development in the Dorchester neighborhood of Boston. Arx Urban and Boston Communities are the developers. Thirty-five units are designated affordable, which include 15 units supported by project-based vouchers. Rent restrictions were not disclosed. M&T’s financing package includes a $6.3 million Freddie Mac forward commitment, a $19.2 million construction loan and $19.3 million in tax credit equity. The 247 Hancock development will feature a six-story building with a mix of studios and one-, two- and …
WATCHUNG, N.J. — JLL Capital Markets has arranged construction debt and equity for developers building Blue Hill at Watchung, a $102.9 million community in Watchung, 30 miles west of Manhattan. Completion is slated for 2026. The Sterling Properties Group and Danbro Properties are the developers. The property benefits from a 30-year PILOT (payment in lieu of taxes) agreement with the Borough of Watchung. PILOT agreements are government-sponsored incentives for developers to build housing, whereby the property owner pays an agreed-upon annual fee to a municipality versus traditional yearly property taxes. …
The August 6 webinar “From Sunk Costs to Strategic Savings — Risk and Insurance Plays to Strengthen Your Multifamily Portfolio,” sponsored by Foxen, explored practical ways for multifamily owners and operators to address one of their largest cost concerns in 2025: insurance. Industry experts detailed the risks of tenant-caused property damage, the operational challenges of monitoring renters insurance and the benefits of structured compliance programs. Viewers learned about property damage liability waiver programs and tenant legal liability (TLL) policies in protecting owners from uninsured losses. The panel also discussed the …
WATKINS GLEN AND MONTOUR FALLS, N.Y. — Capriotti Properties has acquired a three-property portfolio, including 32 apartments and five commercial spaces, in Watkins Glen and Montour Falls, two villages located three miles apart near the southern tip of Seneca Lake in Upstate New York. Nelson Development was the seller, and CBRE arranged the sale with a team led by Richard Gatto, Fahri Ozturk, Zach McHale and Matthew Loscalzo. The residential portfolio includes Montour House, The Flats on Broadway and Water Works Center, all situated within a six-minute drive of one …
NEW YORK — Marcus & Millichap has arranged the $10.4 million sale between two undisclosed parties of a 34-unit property on the Upper East Side of Manhattan. Joe Koicim and Logan Markley represented the seller and procured the buyer. Built in 1920, the five-story building is located at 234-236 E. 88th St. in the Yorkville neighborhood. The unit mix includes studios and one-bedroom apartments with vintage architectural details and modern upgrades.
ELMWOOD PARK, N.J — JLL Capital Markets has arranged a $131.1 million loan for a private company headed by Bernard F. Langan to refinance Riverwalk Phase III and IV. The five-year, floating-rate loan was sponsored by MF1 Capital LLC, a joint venture between Limekiln Real Estate and Berkshire Residential. Riverwalk Phase III & IV (also known as The Landings at Riverwalk) consists of four buildings situated on a 7-acre site along the Passaic River. Phase III, comprising 240 units across two buildings, was completed in early 2023 and is currently 85 …
DENVER — An affiliate of Norfolk, Virginia-based Harbor Group International (HGI) is under contract for the $740 million acquisition of a portfolio of five communities from Apartment Investment and Management Company (Aimco). The Denver-based, publicly traded REIT’s (NYSE: AIV) stock price closed at $7.91 on Aug. 11, down from $8.11 on Aug. 9, 2024. HGI has completed due diligence and paid a non-refundable $20 million deposit. The deal for the first four properties is expected to close in the third quarter, with the closing of the final asset occurring in …