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heritage-point-Buffalo
DevelopmentFinanceNew YorkNewsNortheast

JLL Arranges $26M in Construction Financing for Buffalo Mixed-Use Project

by Lynn Peisner

BUFFALO, N.Y. — JLL has arranged approximately $26 million in construction financing for Heritage Point, a mixed-use development in Buffalo that includes 61 apartments. The capital stack consists of a $14.8 million construction loan from lender X-Caliber and $11.2 million in Commercial Property Assessed Clean Energy (C-PACE) financing from CastleGreen Finance. Locally based Sinatra & Co. is the developer and will pursue LEED certification. Located at 120 Main St., Heritage Point will include two six-story properties. Completion is slated for the third quarter of 2027. The JLL Capital Markets team …

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ARIA-7-Platt-NYC
DevelopmentLeasing & MarketingNew YorkNewsNortheastOperations

The Moinian Group Begins Leasing at Manhattan’s ARIA 7 Platt

by Lynn Peisner

NEW YORK CITY — The Moinian Group has begun leasing at ARIA 7 Platt, a 38-story luxury apartment tower in Manhattan’s Financial District. Construction was led by AECOM Tishman, Hill West was the architect, and Rockwell Group provided interior design services. The 250,000-square-foot, 38-story glass-clad tower features 250 units in a mix of studio, one- and two-bedroom layouts and penthouse residences with a dedicated lounge area. Amenities include a fitness center, library, work areas, lounges, private dining spaces with outdoor terrace access, a gaming area, laundry facilities and a communal …

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The-Waymark-DC
Affordable HousingDevelopmentNewsNortheastWashington, D.C.

The NRP Group Begins Construction of Mixed-Income Development in Washington, D.C.

by Lynn Peisner

WASHINGTON, D.C. — The NRP Group has begun construction of The Waymark in Washington, D.C.’s Ward 7 neighborhood, located on the east side of the District. The 109 one-, two- and three-bedroom apartments are income restricted at 30, 50 and 80 percent of area median income and include 22 units set aside as permanent supportive housing for individuals at risk of homelessness or who were previously unhoused. The property will include a fitness center and multi-purpose spaces. Development partner Marshall Heights Community Development Organization (MHCDO) will provide financial-literacy, career and …

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Olympus Property-Ascend-by-the-Sea
DelawareInvestment SalesNewsNortheast

Olympus Property Acquires Asset on Delaware Coast

by Lynn Peisner

MILLVILLE, DEL. — Olympus Property, a Fort Worth, Texas-based multifamily owner and operator, has acquired Ascend by the Sea in Millville. The 216-unit property opened in 2024. The seller’s identity was not disclosed, but the project was originally brought forward as Tupelo Sands, with town plan documents identifying DHI Communities as the developer. This sale marks Olympus’ first owned property in the mid-Atlantic region. According to the community website, the asset’s name has been changed to Olympus by the Sea. Amenities include a resort-style pool, fitness center, coffee bar, coworking …

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The-Marte-DC
Affordable HousingDevelopmentLeasing & MarketingNewsNortheastWashington, D.C.

Gilbane Begins Leasing $135M Second Phase of D.C. Affordable Housing Redevelopment

by Lynn Peisner

WASHINGTON, D.C. — Gilbane Development has begun leasing the second of its three-phase redevelopment at 7th Street and Barnaby Road in Southeast Washington, D.C. Phase II of Barnaby & 7th includes 229 units within four new residential buildings: The Stoneview, The Solomon, The Marte and The Lewis. Construction of these buildings is slated for completion by summer 2026. The four communities feature a mix of studio to three-bedroom units serving households earning 50 and 80 percent of the area median income (AMI). Twenty percent of the apartments will be set …

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White-Marsh-Perry-Hall
Investment SalesMarylandNewsNortheast

Rose Valley Capital Acquires The Crossings at White Marsh in Metro Baltimore

by Lynn Peisner

PERRY HALL, MD. — Rose Valley Capital has acquired The Crossings at White Marsh Apartments in Perry Hall, 12 miles northeast of Baltimore. The Brooklyn-based owner-operator’s in-house management firm, Rose Valley Management, will be the property manager. The seller and sales price were not disclosed. The Crossing at White Marsh is comprised of 396 one- and two-bedroom units and amenities such as two resort-style pools, a cyber lounge and electric vehicle charging stations.

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102-Fleet-Brooklyn
DevelopmentFinanceNew YorkNewsNortheast

Affinius Capital Originates $300M Refinancing for 102 Fleet in Brooklyn

by Lynn Peisner

BROOKLYN, N.Y. — Affinius Capital has originated a $300 million refinancing loan for 102 Fleet, a 495-unit, 30-story development with 3,700 square feet of ground floor retail space in Brooklyn. The Jay Group is the borrower, using funds to complete construction and lease the property to stabilization. The development site was acquired in 2024. Henry Bodek of Galaxy Capital arranged the financing. The building is comprised of 108 studios, 97 one-bedrooms, 262 two-bedrooms and 28 three-bedrooms. Amenities include a rooftop pool offering skyline views, a gym and spa with steam …

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the-reed-rockville
Investment SalesMarylandNewsNortheast

Comstock Acquires The Reed in Rockville, Maryland

by Lynn Peisner

ROCKVILLE, MD. — Comstock Holding Cos. and Benefit Street Partners have acquired The Reed, a 417-unit community adjacent to the Shady Grove Metro Station in Rockville. Two Comstock subsidiaries, CHCI Residential Management and ParkX Management, will provide property management services. NewPoint Real Estate Capital arranged an undisclosed amount of equity as well as Freddie Mac financing for the buyers. Reston, Virginia-based Comstock is an investor, developer and operator focused on mixed-use and transit-oriented assets in the Washington, D.C., metro area. The acquisition of The Reed expands Comstock’s footprint in the …

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The-Caroline-Apartments-NYC
Affordable HousingDevelopmentInvestment SalesNew YorkNewsNortheast

Jonathan Rose Cos. Buys Upper Manhattan Affordable Community for $53M

by Lynn Peisner

NEW YORK CITY — Jonathan Rose Cos. has acquired The Caroline Apartments, a 126-unit Section 8 community in New York, for $53 million. This sale marks the eighth transaction under the $660 million Rose Affordable Housing Preservation Fund VI earmarked for preserving existing affordable and mixed-income housing. Locally based Jonathan Rose is planning a $19.7 million renovation that will upgrade The Caroline’s building systems and unit interiors, targeting Enterprise Green Communities certification, an energy-efficiency program specifically for affordable housing properties. The Caroline was built in 1980 and renovated in 2008. …

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Residences-at-Bay-Terrace-Queens
DevelopmentFinanceNew YorkNewsNortheast

Cord Meyer Development Secures Construction Loan to Build Out Bay Terrace Site in Queens

by Lynn Peisner

QUEENS, N.Y. — Avison Young has arranged a $75 million construction loan on behalf of Cord Meyer Development for Residences at Bay Terrace. The lender was New York Life Investment Management’s Real Estate Advisors. The community will be comprised of 145 units across two five-story buildings on-site at the Bay Terrace Shopping Center in Queens. Avison Young’s team was led by Scott Singer, Andy Singer, Kevin Swartz, Kathleen McSharry and David Brucker. Floor plans will be available in one-, two- and three-bedroom layouts, many with private terraces or balconies, and …

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