BALLSTON SPA, N.Y. — Regional brokerage firm Adirondack Capital Partners has negotiated the sale of Northway Eleven Communities, a 952-unit community in Ballston Spa, 30 miles north of Albany, New York. The exact sales price was not disclosed, but Adirondack says that the property traded hands for more than $100 million. Northway Eleven Communities consists of 240 buildings on a 131-acre site. The community offers 1,027-square-foot, two-bedroom apartments and 1,385-square-foot, two-level townhomes, according to the property website. Michael Hunter Coghill of Adirondack Capital Partners represented the seller, an entity doing …
NEW YORK CITY — A partnership between The Hudson Cos. and BRP Cos. has received $343 million in financing for Phase II of La Central, a 420-unit affordable housing development in the South Bronx. The second phase of La Central will encompass Building C, which will consist of 166 units across 13 stories, and Building E, a 26-story building that will feature 254 units. Development on Phase II is slated to complete in 2028. Apartments will come in one-, two, three- and four-bedroom floor plans. The buildings will be reserved …
WEST NEW YORK, N.J. — Silicon Alley Properties LLC has sold a six-unit multifamily property located at 20 63rd St. in West New York, about 8 miles north of New York City, for $1.2 million. The three-story building offers one-, two- and three-bedroom apartments. Three units were recently renovated. The community features garage parking and yard access. Kevin Taub of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller and procured the undisclosed buyer.
WALDORF, MD. — North Bethesda, Maryland-based CAPREIT has acquired two properties in Walforf, roughly 30 miles southeast of Washington, D.C. The two communities, Palmer Apartments and Smallwood Gardens, total 360 units. Located at 3008 Pilgrims Square, Palmer Apartments was originally constructed in 1980 and consists of 152 apartments. Units come in one- and two-bedroom floor plans. Rents start at $1,662 per month for a one-bedroom residence, according to Apartments.com. Smallwood Gardens, formerly known as Smallwood Gardens at Village Center of St. Charles, is situated at 2640 Hamilton Place. Originally built in 1976, …
TOMS RIVER, N.J. — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has provided a $50 million bridge loan for the acquisition of Silverwoods, a 313-unit multifamily property located in the coastal New Jersey community of Toms River. The 55-acre, age-restricted property consists of 46 one-story buildings that house seven studios, 41 one-bedroom units and 265 two-bedroom units. Amenities include a pool, fitness center and a clubhouse. Moshe Feiner of Sevenstone Capital arranged the debt on behalf of the borrowers, Mathias Deutsch and Isidore Bleier. In …
TRURO, MASS. — The Community Builders (TCB) has broken ground on Cloverleaf, a 43-unit affordable housing project in Truro, located roughly 100 miles southeast of Boston near the northern tip of Cape Cod. Thirty-nine units will be restricted to households earning between 30 and 100 percent of the area median income. The other four apartments will be rented at market rates. Units will come in one-, two- and three-bedroom formats and will be spread across 10 buildings. TCB is developing Cloverleaf in partnership with Community Housing Resource Inc. and the …
NORTH BERGEN, N.J. — Tower Management has received $24.2 million in financing for the acquisition of Hudson Ridge Apartments, a 215-unit asset in North Bergen. The property is situated at 7112-7312 Blvd. E, about eight miles north of New York City. Built in 1949, Hudson Ridge Apartments offers a mix of studio, one- and two-bedroom units. Apartments include hardwood flooring, stainless steel appliances and oversized closets. Residents have access to outdoor amenities such as picnic areas and garage parking. Thomas Didio, Thomas Didio Jr., Gerard Quinn and Michael Mataras of …
PITTSBURGH — A joint venture between Oxford Development Co. and RDC has received a $67 million construction loan for 21 West, a 291-unit project in Pittsburgh. Nick Unkovic and Zach Barone of JLL Capital Markets arranged the four-year floating rate construction loan through Dollar Bank. A construction timeline was not disclosed. Located at 430 W General Robinson St., the project will comprise 313,000 square feet across 11 stories. Units will come in studio, one- and two-bedroom floor plans. Residents will have access to amenities such as a sky bar on …
HANOVER, MD. — Pearlmark has provided a mezzanine loan for the refinancing of Bristol Court Apartments, a 311-unit asset in Hanover, roughly 12 miles south of Baltimore. Located within the Oxford Square planned community near the Dorsey MARC passenger rail station, Bristol Court offers one-, two- and three-bedroom apartments. Residents have access to amenities such as a pool, fitness center, yoga studio, lobby with coworking spaces and a clubroom with an entertainment kitchen and fireplace. Additional amenities include a library, lounge with a pool table, pet spa, foosball and shuffleboard, …
WASHINGTON, D.C. — Multifamily executives across the nation report that deal flow is increasing and debt financing conditions are improving, according to the National Multifamily Housing Council’s (NMHC) latest quarterly survey. But there’s a caveat. While respondents were confident about first-quarter market conditions, such as improving rent-growth trends, those who completed the survey after the April 2 tariffs were announced expressed a conspicuously different opinion. According to NMHC, about half the respondents completed the survey before the tariffs and the other half submitted responses after. The April 2025 Quarterly Survey of Apartment …