Northeast

Partnership Unveils Plans for 600-Unit Affordable Housing Project in Upper Manhattan

by Taylor Williams February 12, 2026

NEW YORK CITY — A partnership between Slate Property Group, Xenolith Partners, nonprofit organization Comunilife Inc. and the New York City Department of Housing Preservation and Development (HPD) has unveiled plans for a 600-unit affordable housing project in the Inwood area of Upper Manhattan. Designed by Magnusson Architecture and Planning PC and known as La Ostra, the development will also include a marine science and STEM education center that will be operated by the Billion Oyster Project and BioBus. La Ostra will also feature a new indoor–outdoor field house, social services facilities and roughly an acre of publicly accessible, open waterfront space along the Harlem River. Proposed facilities beyond the residential component include an outdoor classroom, a pavilion with a seating area and movable furniture, a central lawn and a stone amphitheater. Information on floor plans and income restrictions of the affordable housing units was not announced.

February 12, 2026

Development Multifamily New Jersey Northeast

LeCesse, MAS Break Ground on 258-Unit Multifamily Project in Elizabeth, New Jersey

by Taylor Williams February 12, 2026

ELIZABETH, N.J. — A partnership between Florida-based LeCesse Development Corp. and New Jersey-based MAS Development Group has broken ground on ECCO, a 258-unit multifamily project in Elizabeth, located just outside of Newark. The four-story building will offer studio, one- and two-bedroom units that will be furnished with Italian cabinetry, quartz countertops, tile backsplashes, walk-in closets and various pieces of smart-home technology. Amenities will include a pool, fitness center, coworking space, golf simulator, outdoor theater and a game room with a wet bar. ECCO will also have about 35,000 square feet of retail space. Baker Barrios is the project architect, and March Associates Construction is the general contractor. Completion is slated for late 2027.

February 12, 2026

Acquisitions Industrial Northeast Pennsylvania

JLL Brokers Sale of 251,043 SF Distribution Center in Greencastle, Pennsylvania

by Taylor Williams February 12, 2026

GREENCASTLE, PA. — JLL has brokered the sale of a 251,043-square-foot distribution center in Greencastle, located near the Pennsylvania-Maryland border. The cross-dock facility at 12316 Molly Pitcher Highway was built on a 32.8-acre site in 2023 at and was fully leased at the time of sale to U.S. government entities. Building features include a clear height of 32 feet, 45 dock-high doors, three drive-in doors, 130-foot truck court depths, parking for 125 cars and 300 trailers, vehicle repair and wash bays and climate-controlled storage areas. John Plower and Ryan Cottone of JLL represented the seller, Atapco Properties Inc., in the transaction.

February 12, 2026

Affordable Housing Development Multifamily Northeast Pennsylvania

Beacon Communities Begins Affordable Housing Redevelopment Project in Downtown Pittsburgh

by Taylor Williams February 12, 2026

PITTSBURGH — Nonprofit owner-operator Beacon Communities has begun an affordable housing redevelopment project in downtown Pittsburgh. The project involves The May Building, 12-story structure at 111 Fifth Ave. that was originally completed in 1908 for the May Drug Co. The building was converted from office to an 87-unit apartment complex with studio and one-bedroom units in 1974. This latest redevelopment will convert 66 of those residences into affordable housing and also upgrade the building’s exterior elements, mechanical/utility systems and common spaces.

February 12, 2026

Acquisitions Development Mixed-Use New York Northeast

Tavros Acquires Mixed-Use Development Site in Lower Manhattan for $143M

by Taylor Williams February 11, 2026

NEW YORK CITY — Local development and investment firm Tavros has acquired a mixed-use development site at 250 Water St. in Lower Manhattan for $143 million. The site spans a whole city block and is currently entitled for the construction of a 26-story building that will include both market-rate and affordable housing units, as well as commercial, retail and/or community space. Andrew Scandalios, Ethan Stanton and Nicco Lupo of JLL represented the seller, Seaport Entertainment Group (NYSE: SEG), in the transaction. Luppo also worked with JLL’s Christopher Peck to arrange predevelopment financing and an equity investment from Atlas Capital. Tavros has tapped Fogarty Finger as the project architect going forward.

February 11, 2026

Development Multifamily New York Northeast Office

Bushburg Receives $78M in Financing for Manhattan Office-to-Residential Conversion Project

by Taylor Williams February 11, 2026

NEW YORK CITY — Bushburg has received $78 million in financing for an office-to-residential conversion project in Manhattan. The locally based development and investment firm will use the proceeds to acquire the 21-story building at 100 William St. in the Financial District and fund predevelopment costs. Bushburg plans to convert the building into an approximately 400-unit complex in which 25 percent of the units will be reserved as affordable housing. Bridge lender Oak Funding and OakNorth Bank co-provided the financing. A tentative completion date was not disclosed.

February 11, 2026

Camelot-West-at-Townelake-Sayreville-New-Jersey

Loans Multifamily New Jersey Northeast Uncategorized

JLL Arranges $47.5M Loan for Refinancing of Central New Jersey Apartments

by Taylor Williams February 11, 2026

SAYREVILLE, N.J. — JLL has arranged a $47.5 million loan for the refinancing of Camelot West at Townelake, a 176-unit, newly constructed apartment complex in the Central New Jesey community of Sayreville. Camelot West at Townelake comprises seven residential buildings that house one-, two- and three-bedroom units, as well as a clubhouse and leasing office. The average unit size is 1,153 square feet. Amenities include a pool, fitness center, coffee bar, grilling stations, a playground and a dog park. Michael Klein, Jim Cadranell and John Cumming of JLL arranged the five-year, fixed-rate loan through an undisclosed regional bank on behalf of the borrower, Kaplan Cos.

February 11, 2026

Affordable Housing Development Multifamily New York Northeast

PGM, Brisa Top Out 92-Unit Affordable Housing Project in Queens

by Taylor Williams February 11, 2026

NEW YORK CITY — A partnership between PGM Affordable and Brisa Builders Development has topped out a 92-unit affordable housing project in the Far Rockaway area of Queens. The nine-story building at 19-19 Cornaga Ave. will offer studio, one- and two-bedroom units that will range in size from 331 to 652 square feet, with 60 units to be set aside as supportive housing. Amenities will include a fitness center, computer room, resident lounge, children’s play area, social services office and a multi-purpose space for community programs, classes and recreational activities. Completion is slated for the end of the year.

February 11, 2026

Development Massachusetts Multifamily Northeast

Partnership Breaks Ground on 473-Unit Multifamily Project in Revere, Massachusetts

by Taylor Williams February 10, 2026

REVERE, MASS. — A partnership between regional developer HYM Investment Group, private investment group Cathexis Holdings and Related Fund Management has broken ground on Portico, a 473-unit multifamily project in Revere, located northeast of Boston. The site is located within Suffolk Downs, a 161-acre, mixed-use redevelopment of a former horseracing complex. Portico will offer studio, one- and two-bedroom floor plans and 33,000 square feet of ground-floor retail space. Amenities will include a sky deck, lounge with a kitchen, courtyard with flex spaces and grilling stations, recording pods, a fitness center and a veranda with a coffee bar and private workspaces. Prellwitz Chilinski Architects is designing the project, and Suffolk Construction is serving as the general contractor. Completion is slated for early 2028.

February 10, 2026

Acquisitions Industrial New York Northeast

JLL Brokers Sale of 209,792 SF Industrial Portfolio in Valley Cottage, New York

by Taylor Williams February 10, 2026

VALLEY COTTAGE, N.Y. — JLL has brokered the sale of a portfolio of four industrial buildings totaling 209,792 square feet in Valley Cottage, about 35 miles north of New York City. Known as the Northern I-287 Small-Bay Portfolio, the buildings collectively span 16.5 acres, range in size from 29,700 to 72,000 square feet and were 96 percent leased to 27 tenants at the time of sale. JLL represented the seller, an undisclosed private investor, in the transaction. JLL also arranged acquisition financing for the deal through PCCP LLC on behalf of the buyer, Connecticut-based investment firm East Capital Partners.

February 10, 2026

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