Northeast

Gibson Point in Revere, Massachusetts
DevelopmentMassachusettsNewsNortheast

Redgate Underway on 291-Unit Gibson Point in Revere, Massachusetts

by Channing Hamilton

REVERE, MASS. — Redgate is currently underway on the development of Gibson Point, a 291-unit community in the Boston suburb of Revere. Gibson Point offers studio, one-, two- and three-bedroom units. Amenities include a fitness studio, sauna and cold plunge pools, recovery room, private co-working areas and a lounge with an indoor/outdoor bar, deck and fully equipped kitchen. The property will also feature an on-site restaurant and immediate access to the nearby Gibson Park. Pre-leasing at the community is slated to begin on June 1, with the first move-ins beginning …

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Fox Run Apartments in Ledyard, Connecticut
ConnecticutLeasing & MarketingNewsNortheast

Value Asset Management Takes Over Management of Fox Run Apartments in Ledyard, Connecticut

by Channing Hamilton

LEDYARD, CONN. — Value Asset Management (VAM), a property management subsidiary of Value Cos., has taken over management services at Fox Run Apartments in the southeastern Connecticut town of Ledyard. This is the first community in VAM’s portfolio to be located in Connecticut. Fox Run Apartments includes 172 units in studio-, one- and two-bedroom floor plans. According to Apartments.com, Fox Run Apartments was constructed in 1965. VAM has introduced an apartment rehabilitation program and rebranded the property website as part of a three-year capital improvements plan for the community.

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Max on Morris in Morristown, New Jersey
Affordable HousingInvestment SalesNew JerseyNewsNortheast

The Hampshire Cos. Sells 85-Unit Max on Morris in Morristown, New Jersey

by Channing Hamilton

MORRISTOWN, N.J. — The Hampshire Cos. has sold Max on Morris, an 85-unit community located at 175 Morris Street in Morristown. Built by The Hampshire Cos. in 2023, Max on Morris offers studio, one- and two-bedroom floor plans. Amenities include an entertainment lounge, break room, outdoor amenity deck with grilling stations, bike storage and EV charging stations. The property also offers four affordable residences and 14 supportive housing units designed for residents with special needs operated by locally-based Cohome. Cushman & Wakefield represented the seller and the private buyer in the …

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Affordable HousingDevelopmentNew YorkNewsNortheast

NRP Group Completes 179-Unit Workforce Housing Community in New Rochelle, New York

by Channing Hamilton

NEW ROCHELLE, N.Y. — Cleveland-based developer The NRP Group has delivered Renaissance at Lincoln Park, a 179-unit workforce housing project in New Rochelle, 24 miles north of New York City. The NRP Group developed the community in partnership with Guion Renaissance Housing Development Finance Corp., Kensworth Consulting, The Boys & Girls Club of New Rochelle and The City of New Rochelle. Renaissance at Lincoln Park offers units with a range of income restrictions. The property also features a 22,000-square-foot Boys & Girls Club facility with a gym, basketball court, recording …

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Williamsburg Wharf in New York City
DevelopmentNew YorkNewsNortheast

Naftali Group, Access Industries Underway on 850-Unit Williamsburg Wharf in Brooklyn

by Channing Hamilton

NEW YORK CITY — A partnership between locally based developer Naftali Group and holding company Access Industries is underway on the construction of Williamsburg Wharf, an 850-unit project in Brooklyn. The development is situated on 3.8 acres off Kent Avenue, adjacent to the Brooklyn Navy Yard. Williamsburg Wharf will comprise five 22-story buildings that will also include retail and commercial space. The waterfront community will also feature an open lawn, walking and biking paths, a public park and dog run.

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FinanceInvestment SalesNew JerseyNewsNortheast

BridgeInvest Provides $34.5 Million Acquisition Financing for The Pennington in Passaic, New Jersey

by Channing Hamilton

PASSAIC, N.J. — BridgeInvest has provided a $34.5 million loan to The Birch Group to finance the acquisition of The Pennington, a 147-unit property in the New York City suburb of Passaic. The Pennington is situated on 3.6 acres at 119-231 Pennington Ave. Amenities include a community room, children’s playroom and male and female gyms. According to the property website, units come in studio, one-, two- and three-bedroom layouts.

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ConnecticutInvestment SalesNewsNortheast

NEPCG Brokers $5.2 Million Sale of Willow Park Apartments in Danbury, Connecticut

by Channing Hamilton

DANBURY, CONN. — Northeast Private Client Group (NEPCG) has negotiated the sale of Willow Park Apartments, a 21-unit property in Danbury, 50 miles northeast of New York City. The asset traded hands for $5.2 million. Jeff Wright and Rich Edwards of NEPCG represented the seller and procured the buyer in the deal. Both parties requested anonymity. According to Apartments.com, Willow Park Apartments offers one-bedroom units that span 575 square feet.

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2-20 and 2-21 Malt Drive in New York City
Affordable HousingDevelopmentNew YorkNewsNortheast

TF Cornerstone Nears Completion on 1.4 Million-Square-Foot Development in Queens

by Channing Hamilton

NEW YORK CITY — New York City-based developer TF Cornerstone is nearing completion on 2-20 and 2-21 Malt Drive, a 1.4 million-square-foot high-rise community in the Long Island City neighborhood of Queens. At full build-out, the project will deliver 1,386 apartments across two buildings, as well as retail space and a public park. 2-20 and 2-21 Malt Drive are situated on Malt Drive, a new city street that was named as a nod to the site’s history as a sugar cane processing facility that later became a beer distribution center. The …

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Investment SalesMassachusettsNewsNortheast

Adirondack Capital Partners Brokers $102.5 Million Sale of Abbot Mill Near Boston

by Channing Hamilton

WESTFORD, MASS. — Adirondack Capital Partners has negotiated the sale of Abbot Mill, a 234-unit property in the northwestern Boston suburb of Westford. Aker purchased the asset from an undisclosed local developer for $102.5 million. Michael Hunter Coghill and David Johnson of Adirondack Capital Partners brokered the deal. Abbot Mill is the first phase of the redevelopment of a historic mill, which was originally built in the 1870’s, according to Apartments.com. The community offers one- and two-bedroom apartments. Amenities include a fitness center, business center, clubhouse and a lounge.

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194 East 2nd Street in New York City
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $43 Million Sale of 62-Unit Property in Manhattan

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has brokered the sale of 194 East 2nd Street, a 62-unit community in the East Village neighborhood of Manhattan. Skyline Developers sold the asset to Benchmark Real Estate Group for $43 million. Skyline Developers originally bought the community in 2000. Joe Koicim, Logan Markley and Matt Berger of Marcus & Millichap represented the seller and procured the buyer in the deal. 194 East 2nd Street comprises 77,000 square feet, including 10,000 square feet of ground floor retail space. The unit mix includes four …

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