UPPER DARBY, PENN. — Dwight City Group, the real estate investment affiliate of Dwight Capital, has opened 901 Quarry, the adaptive reuse of a former 125,000-square-foot warehouse in the Philadelphia suburb of Upper Darby. The building was originally constructed in 1925 and had been dormant for over three decades. 901 Quarry offers 84 units in one- and two-bedroom floor plans. Amenities include onsite parking, a playground and a dog park that will be completed next Spring.
JERSEY CITY, N.J. — CBRE and Cushman & Wakefield have brokered the $58 million sale of Harborside 4, a 1.3-acre site located at 20 Christopher Columbus Drive in Jersey City. Veris Residential sold the lot to Related Cos., which plans to develop an 800-unit high-rise building. Additional details about the project were not disclosed. Jeff Dunne, Bill Shanahan and Roland Merchant of CBRE co-brokered the deal in coordination with Cushman & Wakefield’s Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso, Ryan Dowd and Brian Whitmer.
TEANECK, N.J. — Eastern Union has secured $74.2 million to refinance a construction loan for a 256-unit project currently under development in the northern New Jersey city of Teaneck. The transaction features a 36-month term and carried a 75-percent loan-to-cost ratio. The interest rate was set at 7.8 percent, with interest-only payments for the full term. Gabriel Sasson, a senior associate with Eastern Union, brokered the loan. Located at 329 Alfred Ave. near Route 4, the property rises six stories and comprises 250,000 square feet. The property owner and the lender …
GRISWOLD, CONN. — Locally based brokerage firm Chozick Realty has arranged the $30 million sale of Pleasant View Estates, a 102-unit community in Griswold, near the Connecticut-Rhode Island border. Rick Chozick of Chozick Realty brokered the deal. The buyer and seller were not disclosed. Pleasant View Estates offers two-bedroom units with an average size of 1,036 square feet and three-bedroom townhouses that range in size from 1,363 to 1,693 square feet. Amenities include a clubhouse, game room, playground and walking trails.
JERSEY CITY, N.J. — CBRE has negotiated the $8.2 million sale of a property located at 160 Vroom Street in the Journal Square neighborhood of Jersey City. A private investment group acquired the 41-unit asset from a New York City-based family office. Fahri Ozturk, Richard Gatto and Zach McHale of CBRE Tri-State Capital Markets marketed the property and represented the seller in the negotiations. CBRE also procured the buyer. The property offers 22 one-bedroom units and 19 two-bedroom units, as well as on-site laundry facilities for residents.
HOBOKEN, N.J. — JLL Capital Markets has brokered the sale of and negotiated $27 million in financing for Edge Lofts in the New York City suburb of Hoboken. Edge Lofts comprises 69 units across two buildings located at 1405 Clinton and 1405 Adams St. The buildings each rise five stories, and were constructed in 2013 and 2019, respectively. Units come in one-, two- and three-bedroom floor plans. Amenities include a package room, resident lounge with a bar and TV, fitness center and a common terrace with grilling stations. JLL Capital Markets …
WASHINGTON, D.C. — The Biden-Harris Administration has released a new guidebook, developed in partnership with the U.S. Department of Housing and Urban Development (HUD) and other federal agencies. The goal of the guidebook is to help housing providers identify federal resources to finance the conversion of commercial properties to residential and mixed-use developments. In addition to the guidebook, HUD will release an updated notice on how its Community Development Block Grant (CDBG) funding — $10 billion of which has been allocated during the current administration — can be used to boost …
NEW YORK CITY — The Durst Organization has topped out 20 and 30 Halletts Point, a 647-unit complex in the Queens borough of New York City. 20 and 30 Halletts Point consists of a 27-story building and a 32-story building in the Astoria neighborhood. Apartments will come in studio, one- and two-bedroom layouts. Planned amenities include a fitness center, rooftop terraces, resident lounges and a children’s play area, as well as ground-floor retail space and onsite parking. The buildings are slated for delivery in 2025. Urban Atelier Group is the …
BUFFALO, N.Y. — Habitat, a developer and property manager based in Chicago, has received planned unit development approval from the Buffalo Common Council to redevelop Marine Drive Apartments. The $400 million project is a joint venture between Habitat, Duvernay + Brooks and the Buffalo Municipal Housing Authority. The property currently comprises 616 units across seven 12-story towers, which were built more than 70 years ago and have since fallen into disrepair. Phase one of the redevelopment will include constructing a mix of new towers on the lot adjacent to the complex’s current buildings. …
NEW YORK CITY — Stav Equities has negotiated the $3.8 million sale of a seven-unit property located at 10 Clermont Ave. in the New York City borough of Brooklyn. Jacob Stavsky of Stav Equities represented the buyer, Neue Urban, in the off-market transaction. According to LoopNet Inc., the building was constructed in 1915 and comprises 5,240 square feet across four stories.