Wednesday, January 22, 2025
Read the Digital Magazines Subscribe to the Newsletter

Northeast

Optima Verdana, in Wilmette, Illinois
FeaturesMidwestNortheastOperationsSoutheastTexasWestern

Which Amenities Pay Off in Today’s Market?

by Channing Hamilton

Amenities are the personality of a multifamily property. They proclaim a community’s individuality and lure tenants with promises of a fun, relaxing or convenient lifestyle. What counts as a multifamily amenity today? If most renters and homeowners are accustomed to robust Wi-Fi or controlling their heating and air conditioning through their phones, is a smart thermostat or bulk internet something to advertise as an “extra,” or are these features a given nowadays, like a fridge or a microwave? “Want versus need is a spectrum when it comes to multifamily amenities,” …

Continue Reading
0 FacebookTwitterLinkedinEmail
Residences at Stevens Pond in Saugus, Massachusetts
Investment SalesMassachusettsNewsNortheast

Waterton Acquires 326-Unit Residences at Stevens Pond in Suburban Boston

by Channing Hamilton

SAUGUS, MASS. — Chicago-based Waterton has acquired Residences at Stevens Pond, a 326-unit community in Saugus, approximately 10 miles north of Boston. The seller and sales price were not disclosed. Constructed in 2003, Residences at Stevens Pond consists of 25 three-story buildings, as well as a clubhouse. The community features one-, two- and three-bedroom units, including apartments, lofts and townhomes. Amenities include a pool and spa, outdoor pavilion with fireplace, fitness center, arcade, indoor half-basketball court and golf simulator. The property is surrounded by the Breakheart Reservation, a 652-acre public …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFeaturesInvestment SalesNortheastPennsylvania

How Philadelphia is Leveraging Vacant Land to Solve Affordable Housing Shortage

by Channing Hamilton

Last year, developers in Philadelphia built hundreds of new row houses on vacant, city-owned lots. The houses would sell to new homeowners at affordable prices. Many housing advocates say it’s not nearly enough. While new, luxury apartments charge record-high rents in neighborhoods around Center City, other streets in Philadelphia are still lined with vacant lots strewn with trash. As rents rise across the city, Philadelphia’s new mayor, Cherelle Parker, has promised to produce 30,000 new units of affordable housing over four years. That’s more than 8,000 units of housing per …

Continue Reading
0 FacebookTwitterLinkedinEmail
32 Ave. A in New York City
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $5.8 Million Sale of Mixed-Use Building in Manhattan

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has negotiated the $5.8 million sale of a mixed-use building located at 32 Ave. A in Manhattan’s East Village. Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap’s Manhattan office marketed the property on behalf of the seller and procured the buyer. Both parties were local private investors. The building comprises 4,708 square feet across four stories. The community includes three apartments, as well as one retail unit occupied by Mary O’s Irish Pub. The sale also included 1,980 square feet …

Continue Reading
0 FacebookTwitterLinkedinEmail
The Halden in White Plains, New York
Investment SalesNew YorkNewsNortheast

 JLL Capital Markets Arranges Sale of The Halden in White Plains, New York

by Channing Hamilton

WHITE PLAINS, N.Y. — JLL Capital Markets has arranged the sale of The Halden, a 303-unit community located at 1137 Westchester Ave. in White Plains, approximately 30 miles north of Manhattan. JLL’s suburban tri-state capital markets team worked on behalf of the sellers and procured the undisclosed buyer. The Halden was completed in 2023. The five-story community offers a mix of one-, two- and three-bedroom apartments, with an average unit size of 999 square feet. Amenities include a clubroom, conference room, bike storage, café and lounge, fitness center, package concierge, pool and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Oaks at Georgetown in Georgetown, Texas
Affordable HousingArizonaCaliforniaColoradoInvestment SalesNew YorkNewsNortheastTexasWestern

Standard Communities Purchases $1 Billion Affordable Housing Portfolio Across Four States

by Channing Hamilton

LOS ANGELES AND NEW YORK CITY — Standard Communities has acquired a portfolio of 60 affordable housing communities totaling roughly 6,000 units for $1 billion. The portfolio consists of traditional multifamily and seniors housing assets in Texas, Arizona, Colorado and California. The undisclosed seller developed many of the properties in roughly 2002. Standard states that it will invest more than $30 million in capital improvements and deferred maintenance across the portfolio. According to the company, no tenants will be displaced during renovations. Standard says negotiations with multiple government agencies, including HUD, Fannie Mae, Freddie …

Continue Reading
0 FacebookTwitterLinkedinEmail
200-206 Franklin Street in Cambridge, Massachusetts
Investment SalesMassachusettsNewsNortheast

Marcus & Millichap Arranges $2.8 Million Sale of 7-Unit Asset in Cambridge, Massachusetts

by Channing Hamilton

CAMBRIDGE, MASS. — Marcus & Millichap has brokered the sale of a 7-unit property located at 200-206 Franklin Street in Cambridge for $2.8 million. Built in 1915, the building rises three stories and offers a mix of onei and two-bedroom units. Tony Pepdjonovic and Evan Griffith exclusively marketed the property on behalf of the seller and procured the buyer. Neither party’s identity was disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
18-Property Portfolio in New York City
FinanceNew YorkNewsNortheast

Walker & Dunlop Arranges $110 Million Loan for Refinancing of 18-Property Portfolio in New York City

by Channing Hamilton

NEW YORK CITY — Walker & Dunlop has arranged a $110 million loan for the refinancing of a portfolio totaling 112 units across 18 communities in New York City. The portfolio also includes 29 commercial spaces. The properties are located in areas such as Manhattan’s East Village neighborhood and Brooklyn’s Park Slope district. The borrower was a partnership between Davean Holdings and Meadow Partners. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Sean Bastian, Christopher de Raet, and Stanley Cayre of Walker & Dunlop arranged the loan. The terms …

Continue Reading
0 FacebookTwitterLinkedinEmail
210-220 E. 22nd Street in New York City
Investment SalesNew YorkNewsNortheast

Joint Venture Purchases 204-Unit Building in Manhattan for $104.5 Million

by Channing Hamilton

NEW YORK CITY — JLL has arranged the $104.5 million sale of a 204-unit property located at 210-220 E. 22nd Street in Manhattan’s Gramercy Park neighborhood. The building consists of 204 units across seven stories. The unit mix includes 82 studios, 75 one-bedroom units, 39 two-bedroom residences and eight three-bedroom apartments. Amenities include a fitness center, resident lounge and onsite laundry facilities. The property was 95 percent occupied at the time of sale. Andrew Scandalios, Jeffrey Julien, Rob Hinckley and Steven Rutman of JLL represented the undisclosed seller in the …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $5 Million Sale of 13-Unit Property in Hell’s Kitchen

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has arranged the sale of a 13-unit property located in the Hell’s Kitchen neighborhood of Midtown Manhattan. Built in 1920, the five-story building offers a mix of one-, two- and three-bedroom floor plans. Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap’s Manhattan office marketed the property on behalf of the seller and procured the buyer. Both parties were local private investors.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.