Northeast

JLL Capital Markets Brokers $18.6 Million Refinancing for 39 High Street in Jersey City, New Jersey

by Channing Hamilton December 6, 2023

JERSEY CITY, N.J. — JLL Capital Markets has arranged a $18.6 million loan to refinance 39 High Street, an 83-unit property in the Journal Square neighborhood of Jersey City. Recently built in 2023, 39 High Street rises six stories and offers studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, children’s playroom, lounge and a rooftop terrace. Matthew Pizzolato, Max Custer and John Cumming of JLL represented the borrower, a partnership between Spitzer Enterprises and Titanium Realty Group, to secure the fixed-rate loan through a correspondent life …

December 6, 2023

Investment Sales New Jersey News Northeast

CBRE Brokers $5.5 Million Sale of 30,000-Square-Foot Site in North Bergen, New Jersey

by Channing Hamilton December 6, 2023

NORTH BERGEN, N.J. — CBRE has brokered the sale of a 30,000-square-foot development site in the New York City suburb of North Bergen. The site is located at 8709 River Road, across from the Edgewater Harbor lifestyle center. AIRN Management sold the community to a locally-based developer for $5.5 million. Fahri Ozturk, Richard Gatto, Zach McHale and Jeff Babikian of CBRE represented the seller and procured the buyer.

December 6, 2023

Development Finance New Jersey News Northeast

Tishman Speyer Secures $300 Million to Construct 58-Story 55 Hudson in Jersey City, New Jersey

by Channing Hamilton December 6, 2023

JERSEY CITY, N.J. — Tishman Speyer has received a $300 million construction loan through Otera Capital for 55 Hudson, a 58-story tower in Jersey City. The property will be located along the Hudson River in the city’s Paulus Hook neighborhood. The building will offer 1,017 units, as well as 75,000 square feet of amenities and 60,000 square feet of retail and restaurant space. Units will come in one-, two- and three-bedroom floor plans. Tishman Speyer plans to break ground on the project in December. Construction is expected to complete in early …

December 6, 2023

New Jersey News Northeast Operations People News

Woodmont Properties Selects Lewis Zlotnick as Executive Vice President, Daniel Miller as Chief Operating Officer

by Channing Hamilton December 4, 2023

FAIRFIELD, N.J. — Lewis Zlotnick of Woodmont Properties will transition into the position of Executive Vice President of the company’s Florida division. Zlotnick will oversee Woodmont’s strategic expansion throughout Florida, where Woodmont has invested in about 4 million square feet of industrial development. He will continue to serve on the company’s Executive Leadership Committee, the Investment Committee and the independent Board of Advisors. Additionally, Woodmont Properties has promoted Daniel Miller to the role of Chief Operating Officer, where he will assume the responsibilities of Zlotnick. Miller will oversee Woodmont’s strategy, …

December 4, 2023

Development Maryland News Northeast

JLL Capital Markets Arranges $92.3 Million to Construct Parcel H in North Bethesda, Maryland

by Channing Hamilton November 30, 2023

NORTH BETHESDA, MD. — JLL Capital Markets has arranged a $92.3 million loan to construct a 354-unit, 12-story project in the Washington, D.C. suburb of North Bethesda. The development is dubbed Parcel H and is located at at 5400 McGrath Blvd. Jon Mikula, Jim Cadranell, Jamie Leachman and Ryan Carroll of JLL Capital Markets arranged the four-year, floating-rate loan through SMBC on behalf of the borrower, LCOR. Upon completion, the community will offer one-, two- and three-bedroom units, as well as nine penthouse units. Units average 881 square feet in …

November 30, 2023

Development Finance Massachusetts News Northeast

Largo Capital Brokers $17 Million Construction Loan for 67-Unit Project in Amherst, Massachusetts

by Channing Hamilton November 29, 2023

AMHERST, MASS. — Largo Capital has arranged a $17 million construction loan for a 67-unit multifamily project in Amherst, approximately 90 miles west of Boston. Largo Capital is a financial intermediary based in northern New York. Ned Perlman arranged the financing. The names of the direct lender and borrower were not disclosed. The property will offer one-, two- and three-bedroom units, as well as 7,000 square feet of ground-floor commercial space.

November 29, 2023

Investment Sales New York News Northeast

JLL Arranges $10.2 Million Sale of 11-Story Building in New York City

by Channing Hamilton November 28, 2023

NEW YORK CITY — JLL has arranged the $10.2 million sale of property at 788 Riverside Drive in the Washington Heights area of Manhattan. The building comprises 62 units across 11 stories. Units come in two- and three-bedroom floor plans with an average size of 1,025 square feet. Of the total unit count, 53 are rent-stabilized, five are rent-controlled and four are rented at market rates. The buyer and seller were both family offices that requested anonymity. Paul Smadbeck and Hall Oster of JLL brokered the deal.

November 28, 2023

Investment Sales New York News Northeast

Rosewood Realty Negotiates $8.9 Million Sale of Three-Building Portfolio in Brooklyn

by Channing Hamilton November 27, 2023

NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has negotiated the sale of a portfolio of three buildings in Brooklyn’s Williamsburg neighborhood. The four-story building at 313 S. Fourth St. was built in 1915 and totals 12 units, and the two-building complex at 431-433 Wythe Ave. was constructed in 1920 and totals 16 units. Edifice Management acquired the portfolio from a private investor for $8.9 million. Ben Khakshoor, Reoven Elharar and Alex Fuchs of Rosewood Realty represented the seller and procured the buyer.

November 27, 2023

Finance New York News Northeast People News

Newmark Group Selects Sharon Karaffa as President of Multifamily Debt & Structured Finance

by Channing Hamilton November 27, 2023

NEW YORK CITY — Newmark Group has appointed Sharon Karaffa to the role of President of Multifamily Debt & Structured Finance. In this role, Karaffa will oversee all aspects of Multifamily Debt & Structured Finance, focusing on revenue growth, business development and client and lender relationships. She will lead Newmark Group’s Fannie Mae, Freddie Mac and FHA lending platforms. Karaffa is also responsible for developing synergies and cross-collaboration among Newmark’s Multifamily Capital Markets’ Investment Sales and Debt & Structured Finance teams. Prior to joining Newmark Group in 2017, Karaffa served as …

November 27, 2023

Sligo Apartments in Silver Spring, Maryland

Affordable Housing Development Maryland News Northeast

Green Street Housing, TM Associates Development to Break Ground on Affordable Housing Community in Silver Spring, Maryland

by Channing Hamilton November 27, 2023

SILVER SPRING, MD. — Green Street Housing and TM Associates Development have broken ground on Sligo Apartments, an affordable housing development in Silver Spring. All 102 units at the community will be available at restricted rents. The project is financed through a Low Income Housing Tax Credit (LIHTC) investment from Hudson Housing Capital and Capital One, who is also providing the permanent debt financing, as well as loans from the Maryland Department of Housing and Community Development.

November 27, 2023

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