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Jefferson Avenue Apartments Underway in Buffalo, New York

BUFFALO, N.Y. — Sinatra & Company Real Estate and People Inc. have broken ground on Jefferson Avenue Apartments, a $24 million, two-building project in Buffalo’s Masten District. The project will include 84 mixed-income units, with 16 units to be reserved for people who have developmental disabilities but live independently. The apartment buildings will feature one- and two-bedroom units, a community room with a small kitchen, on-site laundry facilities, green space and off-street parking...

September 1, 2017

NYC Department of Investigation Signs 276,000 SF Lease at 180 Maiden Lane

NEW YORK CITY — Meyer Last and Ross Wasserman of Fried Frank acted as counsel to Downtown NYC Owner LLC, a joint venture of MHP Real Estate Services and Clarion Partners, in connection with a nine-floor, 276,000-square-foot lease to New York City’s Department of Citywide Administrative Services at 180 Maiden Lane, a 1.2-million-square-foot Class A building in Lower Manhattan. The city’s Department of Investigation will consolidate from five separate offices into one location.

September 1, 2017

HFF Arranges $60.9M Sale of 117-Unit Multifamily Property in Manhattan

NEW YORK CITY — Holliday Fenoglio Fowler (HFF) has brokered the $60.9 million sale of 321 East 22nd Street, a multifamily property in Manhattan’s Gramercy Park neighborhood. The property is located within three blocks of the 4, 6, N, Q, R and W train lines and near Gramercy Park and Madison Square Park. The six-story building encompasses 117 residential units and 2,800 square feet of commercial space, which is leased to Synergy Fitness. Jeff Julien, Rob Hinckley and Andrew Scandalios of HFF..

September 1, 2017

DMG Investments Breaks Ground on 322-Bed Community Near the State University of New York at Albany

Albany, N.Y. — DMG Investments has broken ground on a 322-bed student housing community located near the State University of New York at Albany campus in Albany. The $30.5 million community will be located at the former Red Carpet Inn site at 1385 Washington Ave. The four-story, 142,000-square-foot property will offer one-, two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Shared amenities will include partially underground parking, in-unit washers and dryers, a..

September 1, 2017

MassHousing Closes on $37.2M in Financing for Workforce Housing in Quincy, Massachusetts

QUINCY, MASS. — Construction is underway at The Watson, a 140-unit multifamily project on a 1.7-acre site at 116 East Howard Street in Quincy, adjacent to the former Fore River Shipyard. The project involves the demolition of a long-vacant former office building. DellBrook Construction is building the project, with completion slated for July 2018. Eighty-six of the 140 units at the Watson will be workforce housing units, affordable to middle-income households. The workforce housing units will..

August 31, 2017

The Congress Cos. to Break Ground on $60M White Plains Institute for Rehabilitation & Healthcare

WHITE PLAINS, N.Y. — White Plains Healthcare Properties I LLC has selected The Congress Companies as developer and the joint venture Congress/Consigli JV as the construction manager for the 110,000-square-foot White Plains Institute for Rehabilitation & Healthcare. The $60 million dollar facility consists of 160 beds of skilled nursing, including 76 specialized rehabilitation beds, 42 Alzheimer’s secure beds, and 42 long-term care beds. It will be operated by tenant EPIC Healthcare. The..

August 31, 2017

LBC Boston Opens 80-Unit Nova Residences in Boston

BOSTON — LBC Boston has opened Nova Residences, a six-story, 68,000-square-foot building that offers 80 residential units at 1505 Commonwealth Avenue in the Brighton neighborhood of Boston. Ten of the units at the $25 million complex are designated as affordable. Developed, owned and operated by LBC Boston, Nova Residences offers energy-efficient stainless-steel appliances, modern cabinetry, and laundry appliances in each unit. Designed to achieve LEED certification, the building features a..

August 31, 2017

Gramercy Property Trust to Purchase $331M, Nine-Property Industrial Portfolio

NEW YORK CITY — New York City-based REIT Gramercy Property Trust (GPT) has entered into an agreement with a private real estate development and investment company to acquire a nine-property, 2 million-square-foot portfolio of Class A industrial buildings for $331 million. The portfolio is 100 percent leased with a weighted average remaining lease term of 10.4 years. The properties are located in Atlanta; Boston; Charlotte, North Carolina; Chicago; the Inland Empire; Minneapolis; Reno, Nevada;..

August 30, 2017

JMF Properties Breaks Ground on $50M Multifamily Community in Plainfield, New Jersey

PLAINFIELD, N.J. — JMF Properties has broken ground on Quin Sleepy Hollow, a $50 million residential community in Plainfield. This 212-unit rental development, located at 1400 South Avenue near the Netherwood train station, is the largest residential development ever in the city of Plainfield. Residences range in size from 900 square feet to 1,200 square feet. Amenities include stainless steel appliances, vinyl wood flooring, quartz countertops, and chef kitchens, as well as high-speed..

August 30, 2017

Meridian Arranges $5.5M Refinancing of Philadelphia Multifamily Property

PHILADELPHIA — Meridian Capital Group has arranged $5.5 million in financing for the refinance of a 31-unit multifamily building in Philadelphia’s Olde Kensington neighborhood on behalf of Rock Construction and Development. The seven-year loan, provided by a local savings bank, features a fixed rate of 3.75 percent and a five-year extension option. Sam Grunberger and Barry Lefkowitz of Meridian negotiated the transaction. The property, located at 1216 North Fifth Street, is a newly..

August 30, 2017