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Northeast

Sturges-Ridge-of-Fairfield
ConnecticutLoansMultifamilyNortheastSeniors Housing

BWE Funds $35.3M Agency Permanent Loan for Seniors Housing Complex in Fairfield, Connecticut

by Taylor Williams

FAIRFIELD, CONN. — Cleveland-based commercial finance firm BWE has funded a $35.3 million Freddie Mac permanent loan for Sturges Ridge of Fairfield, a 99-bed seniors housing complex located in southern coastal Connecticut. The property opened in 2018, houses 88 units and offers assisted living and memory care services. Amenities include game/activity lounges, a fitness and wellness center, private dining room, library with computer stations, full-service salons and a pet therapy program. Taylor Mokris and Ryan Stoll of BWE originated the 10-year, fixed-rate loan on behalf of the undisclosed borrower.

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15-Broad-St.-Boston
LoansMassachusettsNortheastOffice

JLL Arranges $8M in Financing for Downtown Boston Office Building

by Taylor Williams

BOSTON — JLL has arranged $8 million in financing for a 75,000-square-foot office building located at 15 Broad St. in downtown Boston. The 10-story building was originally constructed in 1910. Amy Lousararian and Hugh Doherty of JLL arranged the five-year, fixed-rate loan through MountainOne Bank. The borrower, local owner-operator Broder, plans to use proceeds to fund capital improvements, including a redesign of the lobby, upgrading of common areas and the introduction of a new amenity package.

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AcquisitionsConnecticutHospitalityNortheast

Marcus & Millichap Brokers Sale of 112-Room Hotel in Danbury, Connecticut

by Taylor Williams

DANBURY, CONN. — Marcus & Millichap has brokered the sale of the 112-room Comfort Inn & Suites hotel in Danbury, located in southern Connecticut’s Fairfield County. The hotel, which was previously operated as a Holiday Inn, was built in 1973 and offers amenities such as a fitness center, outdoor pool, business center and onsite laundry facilities. Jerry Swon of Marcus & Millichap represented the buyer and seller, both of which were private hotel operators that requested anonymity, in the transaction.

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AcquisitionsAffordable HousingMultifamilyNew JerseyNortheast

Kislak Negotiates $4.5M Sale of Affordable Housing Complex in Livingston, New Jersey

by Taylor Williams

LIVINGSTON, N.J. — Local brokerage firm The Kislak Co. Inc. has negotiated the $4.5 million sale of Peachtree Apartments, a 51-unit affordable housing complex located in the Northern New Jersey community of Livingston. Built in 2022, Peachtree Apartments offers one-, two- and three-bedroom units. Information on specific amenities and income restrictions was not disclosed. Matt Weilheimer and Tom Scatuorchio of Kislak represented the seller, Joseph Kushner Hebrew Academy, in the deal and procured the undisclosed buyer.

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Eighty-Nine-Dekalb-Brooklyn
DevelopmentMultifamilyNew YorkNortheast

RXR Begins Leasing 30-Story Apartment Building Near Downtown Brooklyn

by Taylor Williams

NEW YORK CITY — Local developer RXR has begun leasing Eighty Nine Dekalb, a 30-story apartment building located at the nexus of Brooklyn’s downtown area and Fort Greene neighborhood. Designed by local architecture firm Perkins Eastman, the development will have 324 units, 98 of which will be subject to income restrictions. Units will come in studio, one- and two-bedroom floor plans, with private terraces/balconies available in select residences. Amenities will include a fitness center, community lounge, designated dining area, library, coworking spaces, podcast studio, screening room, pet spa, an outdoor fitness space and two patios with grilling stations. Eighty Nine Dekalb will also feature 55,000 square feet of academic and office space for Long Island University. Full completion is slated for early 2026. Rents start at roughly $3,800 per month for a studio apartment.

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AcquisitionsIndustrialNew JerseyNortheast

Terreno Realty Sells Industrial Property in South Brunswick, New Jersey, for $144.2M

by Taylor Williams

SOUTH BRUNSWICK, N.J. — San Francisco-based investment firm Terreno Realty Corp. has sold a 603,000-square-foot industrial property in South Brunswick, about 45 miles south of Manhattan, for $144.2 million. The property address was not disclosed. Terreno bought the original property consisting of 413,000 square feet in 2010 for $22.5 million. In 2013, Terreno acquired the adjacent land and expanded the building by 190,000 square feet. The buyer was also not disclosed.

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LoansMultifamilyNew YorkNortheast

ACRES Capital Provides $40.7M Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — ACRES Capital has provided a $40.7 million loan for the refinancing of The Eve, a 76-unit apartment building located in the Crown Heights neighborhood of Brooklyn. The Eve is a seven-story, newly constructed building that offers elevator service and a mix of studio, one- and two-bedroom units. Amenities include a fitness center, resident lounge, children’s playroom, rooftop deck, pet washing station and various outdoor recreational spaces. The name of the borrower was not disclosed.

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DevelopmentIndustrialNortheastPennsylvaniaSelf-Storage

Inland, Devon Complete Self-Storage Redevelopment in Philadelphia

by Taylor Williams

PHILADELPHIA — Inland Real Estate Investment Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed a redevelopment project at 5200 Unruh Ave. in northeast Philadelphia. The project converted the former Moulton Ladder Manufacturing Co. facility, which was first built in 1900 adjacent to the Delaware River, into a self-storage facility. The five-story building features 88,000 net rentable square feet of climate-controlled space across 932 units.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $13.5M Sale of Lower Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $13.5 million sale of a 28-unit apartment building on Manhattan’s Lower East Side. The six-story, recently renovated building at 135 Eldridge St. was originally constructed in 1900 and includes two commercial spaces that are leased to Akiko Nails and Ha’s Dac Biet. Joe Koicim and Logan Markley of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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Fort-Greene-Family-Center-Brooklyn
Affordable HousingDevelopmentMultifamilyNew YorkNortheast

Westhab Inc. Opens $73M Transitional Housing Complex in Brooklyn

by Taylor Williams

NEW YORK CITY — Westhab Inc., a nonprofit provider of housing and human services, has opened Fort Greene Family Center, a $73 million transitional housing complex in Brooklyn. Aufgang Architects designed the 11-story building, which houses 105 units and was developed in partnership with Slate Property Group. The building also features 1,405 square feet of community facility space and recreational areas for children. In addition, residents have access to a range of onsite social services: job training programs, financial literacy training, youth services and educational support, healthcare coordination and wellness programming.

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