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Prosper-Brooklyn
DevelopmentMultifamilyNew YorkNortheast

EMP Capital Group Begins Leasing 259-Unit Apartment Complex in Brooklyn

by Taylor Williams

NEW YORK CITY — Locally based developer EMP Capital Group has begun leasing a 259-unit apartment complex in Brooklyn. Designed by Isaac & Stern Architects and located at the nexus of the Clinton Hill and Prospect Heights neighborhoods, Prosper Brooklyn offers studio, one- and two-bedroom units, many of which include dedicated work-from-home spaces. Amenities include a fitness center with a sauna, pickleball court, media lounge, screening room, game room, pet spa, children’s playroom, business center and a rooftop terrace with grilling and dining stations. Ownership has tapped MNS Real Estate to market and lease Prosper Brooklyn. Rents start at $3,250 per month for a studio apartment.

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AcquisitionsConnecticutMultifamilyNortheast

JLL Brokers Sale of 192-Unit Apartment Complex in Danbury, Connecticut

by Taylor Williams

DANBURY, CONN. — JLL has brokered the sale of a 192-unit apartment complex in Danbury, located along the Connecticut-New York border. Built in 1971, ReNew Danbury is a garden-style complex that offers studios, one-, two- and three-bedroom units with an average size of 988 square feet. Amenities include a pool, playground, clubhouse with a theater, game room, coffee bar and a fitness center. Steve Simonelli, Jose Cruz, Michael Oliver, Elizabeth DeVesty, Ryan Roberston, Austin Pierce and Jeremy Weinstock of JLL represented the seller, San Francisco-based investment firm FPA Multifamily, in the transaction. The buyer was private equity real estate firm Jones Street Investment Partners.

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AcquisitionsMultifamilyNew JerseyNortheast

Berkadia Negotiates Sale of 156-Unit Multifamily Portfolio in Central New Jersey

by Taylor Williams

SOMERVILLE AND NEW BRUNSWICK, N.J. — Berkadia has negotiated the sale of a portfolio of two multifamily properties totaling 156 units in Central New Jersey. The Lexington & Jefferson Apartments in Somerville was built in the 1960s and totals 118 units in one-, two- and three-bedroom floor plans. Century Apartments in New Brunswick was completed in 1969 and totals 38 units in studio, one- and two-bedroom floor plans. Nat Gambuzza and Trevor Fiebel of Berkadia represented the seller and procured both New Jersey-based buyers in the transaction. All parties requested anonymity. Berkadia also arranged acquisition financing for Lexington & Jefferson Apartments.

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DevelopmentLoansMultifamilyNew YorkNortheast

Largo Capital Arranges $41.8M Construction Loan for Upstate New York Multifamily Project

by Taylor Williams

GETZVILLE, N.Y. — Locally based financial intermediary Largo Capital has arranged a $41.8 million construction loan for a 246-unit multifamily project in Getzville, located just north of Buffalo. The project will feature a mix of studio, one-, two- and three-bedroom units in addition to traditional amenities. Ned Perlman of Largo Capital arranged the loan through an undisclosed regional bank. The name of the property and the developer were also not disclosed.

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LoansMultifamilyNew HampshireNortheast

Newmark Provides $143.1M Agency Loan for Refinancing of Multifamily Property in Derry, New Hampshire

by Taylor Williams

DERRY, N.H. — Newmark has provided a $143.1 million Fannie Mae loan for the refinancing of The Fairways, an 849-unit multifamily property in Derry, about 50 miles north of Boston. The garden-style property was built in 1984 and features a mix of two-, three- and four-story buildings across a 108-acre site. Units come in one- and two-bedroom floor plans, and amenities include a pool, fitness center, sauna, tennis courts, playground, dog park and a great room. Ed Belz of Newmark originated the financing on behalf of the owner, Makor Capital.

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Jade-Everett
DevelopmentMassachusettsMultifamilyNortheast

Greystar Begins Leasing 325-Unit Apartment Community in Everett, Massachusetts

by Taylor Williams

EVERETT, MASS. — Greystar has begun leasing Jade, a 325-unit apartment community in the eastern Boston suburb of Everett. Jade offers studio, one-, two- and three-bedroom units that are furnished with oversized windows, stackable washers and dryers, quartz countertops, built-in pantries and spa-like bathrooms. Amenities include a music room with recording equipment, a fitness center with a yoga studio, coworking pods and a conference room, pet spa, clubroom, two courtyards, a pool and outdoor grilling and dining stations. Rents start at $2,295 per month for a studio apartment.

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Fairways-at-Cranford
DevelopmentMultifamilyNew JerseyNortheast

Hartz Mountain Completes 250-Unit Apartment Complex in Cranford, New Jersey

by Taylor Williams

CRANFORD, N.J. — Hartz Mountain Industries has completed Fairways at Cranford, a 250-unit apartment complex in Northern New Jersey. Situated on 13.5 acres, the property offers studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops and custom closets. Amenities include a fitness center, resident lounge, playroom, conference room, gaming area, theater room, landscaped courtyards and grilling stations. Minno & Wasko Architects and Planners designed the property, and March Construction served as the general contractor. Leasing began in January.

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AcquisitionsIndustrialMassachusettsNortheast

JLL Brokers $27.9M Sale of Industrial Property in Ashland, Massachusetts

by Taylor Williams

ASHLAND, MASS. — JLL has brokered the $27.9 million sale of a 218,316-square-foot industrial property in Ashland, a western suburb of Boston. The property consists of two buildings on an 18-acre site that were fully leased at the time of sale to fire suppression systems manufacturer Kidde-Fenwal. Michael Restivo, Bob McGuire, Sam Crossan, David Coffman and Tommy Hovey of JLL represented the private seller in the transaction. The buyer was locally based investment firm Rhino Capital Advisors.

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IndustrialLeasing ActivityLee & AssociatesNew JerseyNortheast

Quince Signs 105,000 SF Industrial Lease in Carneys Point, New Jersey

by Taylor Williams

CARNEYS POINT, N.J. — Quince has signed a 105,000-square-foot industrial lease in the Southern New Jersey community of Carneys Point. The apparel and accessories retailer is taking space at LogistiCenter at Carneys Point, a two-building development by Nevada-based developer Dermody. Andrew Stypa of Lee & Associates represented Quince in the lease negotiations. Dean Torosian of JLL represented Dermody.

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CoreWeave Lancaster AI Data Center
Company NewsData CentersIndustrialLeasing ActivityNortheastPennsylvaniaTop Stories

CoreWeave to Invest $6B for AI-Based Data Center in Lancaster, Pennsylvania

by Abby Cox

LANCASTER, PA. — CoreWeave (NASDAQ: CRWV), a New Jersey-based data center owner-operator, plans to invest “more than $6 billion” in a new purpose-built artificial intelligence (AI) data center in Lancaster, about 80 miles west of Philadelphia. CoreWeave plans to lease the site, which will be co-developed by Chirisa Technology Parks and Machine Investment Group. Located at 216 Greenfield Road and 1375 Harrisburg Pike, the Lancaster facility will replace the former LSC Communications and R.R. Donnelley printing plants, which comprise a combined 1.5 million square feet of industrial space across 144 acres, according to Lancaster Online. The data center will have the capacity to consume 100 megawatts (MW) of power, with the potential to expand to 300 MW, representing one of the first large-scale data centers of its kind in the region, according to CoreWeave. CoreWeave’s announcement came during the CEO roundtable with President Donald Trump at Senator Dave McCormick’s inaugural Pennsylvania Energy and Innovation Summit, hosted at Carnegie Mellon University in Pittsburgh. “This Energy and Innovation Summit is a powerful testament to Pennsylvania’s readiness and ability to lead — to generate thousands of good-paying jobs, to unleash our incredible energy resources and to power the next AI and economic revolution, further …

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