LONG ISLAND, N.Y. — Northmarq has selected Bob Bernard as senior vice president of debt and equity. In this role, Bernard will be responsible for arranging debt and equity commercial real estate financing through Northmarq’s varied lending sources. He will be based in the company’s Long Island office. Prior to joining Northmarq, Bernard managed commercial real estate lending teams at ConnectOne Bank, Webster Bank, North Fork Bank, Capital One Bank and Flagstar. He received a master’s degree in finance and a bachelor’s degree in marketing from St. John’s University in …
BROOKLYN, N.Y. — A joint venture between The Carlyle and Z+G Property Group has acquired 8 Marcy Ave., an eight-story building in the Brooklyn neighborhood of Williamsburg, from Prospect Development for $97.5 million. JLL Capital Markets brokered the deal. The building was delivered in January. The community offers studio, one- and two-bedroom floor plans. Of the total 123 units, 37 are affordable. Income restrictions for these units were not disclosed. The JLL Capital Markets Investment Sales and Advisory team representing the seller included Ethan Stanton, Jeffrey Julien, Brendan Maddigan, Stephen Palmese, …
TOMS RIVER, N.J. — Garden Communities has fully leased up Green Meadows at Pleasant Plains, a 175-unit in the coastal New Jersey township of Toms River. Development on the property was completed in February. Green Meadows at Pleasant Plains offers one- and two-bedroom apartments and two- and three-bedroom townhomes. Amenities include a pool, fitness center, community room, playground and walking trails.
HACKENSACK, N.J. — M&M Development acquired a redevelopment site in Hackensack from the estate of Donald Gonzalez in care of Michael Sprague Esq. Anthony Cassano of NAI James E. Hanson represented both the buyer and the seller in the transaction. The site comprises 30,800 square feet across five adjacent lots located at 75, 77 and 81 Linden St. as well as 80 and 84 Vanderbeck Pl. M&M Development plans to convert the property into a new community. The site is zoned for medium-density multifamily. A construction timeline was not disclosed.
AGAWAM, MASS. — Way Finders has secured $5.2 million in affordable housing financing from MassHousing to develop Rosewood Way Townhomes in Agawam. The project will offer 62 apartments across 10 townhome-style buildings. Units will come in one-, two- and three-bedroom floor plans. Eight units will be affordable to households earning at or below 30 percent of the area median income (AMI), 12 units to households earning up to 50 percent of AMI, 27 to households earning up to 60 percent of AMI, 10 will be workforce housing units for households …
PHILADELPHIA — EQT Exeter has completed development of The Clark, a six-story community in Philadelphia’s University City neighborhood. The Clark will open for residency in August 2023 and will be managed by Greystar. The building will offer 327 units in studio, one- and two- bedroom layouts. Amenities include a rooftop lounge with a grilling terrace, fitness center, co-working spaces with Wi-Fi connectivity and printers, a game lounge and a food delivery hub. The Clark is located in proximity to the University of Pennsylvania and Drexel University, as well as the Children’s …
BOSTON — Beacon Communities and the Chinese Consolidated Benevolent Association of New England have broken ground on Pok Oi, an 85-unit affordable community in Boston’s Chinatown neighborhood. Pok Oi will offer one-, two- and three bedroom units. The project is financed in part through the Low-Income Housing Tax Credit program. Income restrictions for the complex were not disclosed.
MANCHESTER, CONN. — Afton Properties acquired The Place at Catherine’s Way, a 303-unit community in the Hartford, Connecticut suburb of Manchester, from Beachwold Residential for an undisclosed price. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller in the transaction. Built between 1998 and 1999, The Place at Catherine’s Way comprises 13 buildings. Units come in one-, two- and three-bedroom floor plans. Amenities include a pool, sauna, steam room, fitness center, tennis courts and movie theater.
NEW YORK CITY — Slate Property Group has secured an $85 million refinancing for Dutch House, a mixed-use development in the New York City neighborhood of Long Island City. PCCP is the lender for the financing package. Developed by Slate Property Group and Avenue Realty Capital in 2022, Dutch House offers 186 rental units, as well as 21,000 square feet of ground-floor retail space. Units come in studio, one- and two-bedroom layouts. Amenities include a lobby with concierge service, a modern fitness center, bike storage, recreation room with a pool table …
NEW BRITAIN, CONN. — WinnDevelopment has broken ground on a $85 million project to convert a historic manufacturing complex in New Britain into a 154-unit community. Keith Construction is the general contractor. JCJ Architecture is the architect. Collective Design Associates and Langan Engineering and Environmental Services are providing engineering services. Bank of America provided a construction loan and more than half of the project’s funding through its investment in the low-income housing and historic tax credits generated by the development. The Connecticut Department of Housing provided $4 million in funding …