Monday, June 15, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Northeast

Seagram-Building-Manhattan
Leasing ActivityNew YorkNortheastOffice

Advent International Signs 34,000 SF Office Lease at Seagram Building in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Advent International has signed a 10-year, 34,000-square-foot office lease at The Seagram Building in Midtown Manhattan. The private equity firm will occupy the entire 14th and 15th floors of the 38-story building, which is located at 375 Park Ave. and was originally constructed in 1958. Lindsay Ornstein, Patrick Robinson, Casey Noel and Kate Whitman of OPEN Impact Real Estate represented the tenant in the lease negotiations. A.J. Camhi and Paul Milunec represented the landlord, locally based investment firm RFR, on an internal basis.

Continue Reading
FacebookTwitterLinkedinEmail
Bala-Consulting-Engineers-Philadelphia
DevelopmentNortheastOfficePennsylvania

Meyer Completes 21,500 SF Office Headquarters Renovation in Wayne, Pennsylvania

by Taylor Williams

WAYNE, PA. — Locally based design firm Meyer has completed the renovation of the 21,500-square-foot office headquarters of Bala Consulting Engineers in Wayne, a northwestern suburb of Philadelphia. The space house a café with gaming options and other amenities that converts to a training and conference room for flexible gathering. Digital signage highlights messaging from all of Bala’s office locations. Other features include video conferencing cameras, room reservation systems, mobile AV capabilities and conference room occupancy sensors.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew JerseyNortheastOffice

Cushman & Wakefield Negotiates 10,583 SF Office Lease Renewal in Parsippany, New Jersey

by Taylor Williams

PARSIPPANY, N.J. — Cushman & Wakefield has negotiated a 10,583-square-foot office lease renewal in the Northern New Jersey community of Parsippany. The tenant, Business Credentialing Services, is taking space at 199 Cherry Hill Road, which according to LoopNet Inc. was built in 1970, renovated in 2017 and totals 57,445 square feet. William O’Keefe and Courtney Rosenkrantz of Cushman & Wakefield represented the landlord, locally based investment firm The Birch Group, in the lease negotiations.

Continue Reading
FacebookTwitterLinkedinEmail
Katie Balderrama Walker & Dunlop LIHTC quote
Affordable HousingContent PartnerDevelopmentFeaturesLoansMidwestMultifamilyNortheastSoutheastTexasWalker & DunlopWestern

LIHTC Program Offers Lifeline to Struggling Multifamily Developers

by Sarah Daniels

It’s a tough time for much of multifamily development, but the Low-Income Housing Tax Credit (LIHTC) program offers incentives that make much-needed affordable housing comparatively easier to achieve under the current economic conditions. Building is expensive and financing is tight in the current multifamily market. However, as it has for the last 30 years, the LIHTC program provides solutions that increase the ease of creating and sustaining affordable housing, even when the overall multifamily market faces challenges. The program not only promotes the construction and acquisition of housing but also enforces conditions that help maintain the stability and preservation of affordable properties. The program is also needed to address the demand for affordable housing. The National Low Income Housing Coalition estimates that extremely low-income households represent 25 percent of the nation’s 44.1 million renters and reports a shortage of 7.3 million affordable and available rental homes. Historical Financial Resilience “The LIHTC asset class is resilient, if not countercyclical, under challenging economic times,” says Katie Balderrama, executive vice president of affordable equity at Walker & Dunlop. The firm typically sees a foreclosure rate of under 1 percent on properties supported by LIHTC. “Overall, our affordable housing assets tend to perform fairly …

Continue Reading
FacebookTwitterLinkedinEmail
1057-Atlantic-Ave.-Brooklyn
Affordable HousingDevelopmentMultifamilyNew YorkNortheast

Douglaston Development Tops Out $320M Multifamily Project in Brooklyn

by Taylor Williams

NEW YORK CITY — Douglaston Development has topped out a $320 million multifamily project located at 1057 Atlantic Ave. in the Bedford-Stuyvesant neighborhood of Brooklyn. The 17-story building will ultimately house 456 apartments, 137 of which will be reserved as affordable housing. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a fitness center, lounge, golf simulator, game room, screening room, children’s playroom and a landscaped rooftop deck, as well as 31,000 square feet of ground-floor retail space. Greystone Capital Advisors arranged financing for the project, which included $185 million in construction financing from Wells Fargo Bank, M&T Bank and BankUnited. Funds managed by Ares Real Estate also have a preferred equity investment project in the development, which is slated for completion in late 2025.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialNortheastPennsylvania

JLL Arranges $78.5M Sale of Distribution Center in Mechanicsburg, Pennsylvania

by Taylor Williams

MECHANICSBURG, PA. — JLL has arranged the $78.5 million sale of an 812,425-square-foot distribution center in Mechanicsburg, located just outside of Harrisburg in the central part of the Keystone State. The facility was built on 44.3 acres in 2002 and offers 182 dock-high doors, two drive-in doors, 329 parking spaces, 109 trailer stalls and 195-foot truck court depths. John Plower and Ryan Cottone of JLL represented the undisclosed seller and procured the buyer, a joint venture between Lightstone and an affiliate of Cerberus Capital Management, in the transaction. Peter Rotchford, Andrew Scandalios, Michael Pagniucci and Tyler Peck of JLL arranged a $65 million acquisition loan through Argentic Investment Management on behalf of the new ownership.

Continue Reading
FacebookTwitterLinkedinEmail
Avon-Innovation-Center-Suffern-New-York
AcquisitionsLife SciencesNew YorkNortheast

Regeneron Pharmaceuticals Buys 235,000 SF Life Sciences Facility in Suffern, New York

by Taylor Williams

SUFFERN, N.Y. — Regeneron Pharmaceuticals (NASDAQ: REGN) has purchased Avon Innovation Center, a 235,000-square-foot life sciences facility in Suffern, located just across the New York-New Jersey border. The seller, pharmaceutical company Avon, will be vacating the building in the near future. Larry Carroll, Shawn Straka, David Bernhaut, Frank DiTommaso and Seth Zuidema of Cushman & Wakefield, along with Michael Katz of Actio Corporate Advisors, represented Avon in the transaction. Dan Loughlin and Matt Loughlin of JLL represented Regeneron.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLeasing ActivityNew JerseyNortheast

Cushman & Wakefield Negotiates 22,523 SF Industrial Lease in Fairfield, New Jersey

by Taylor Williams

FAIRFIELD, N.J. — Cushman & Wakefield has negotiated a 22,523-square-foot industrial lease in the Northern New Jersey community of Fairfield. The recently renovated building at 123 Lehigh Drive features a clear height of 24 feet and two dock-high doors. Bill Waxman, Morgan Nitti, Jeff Volpi, Mindy Lissner and David Gheriani of Cushman & Wakefield represented the landlord, The Stro Cos., in the lease negotiations. Brian Wilson of Resource Realty represented the tenant, Moda Foods. The deal brings the building to full occupancy.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew JerseyNortheastRetail

Caliber Collision Signs 11,815 SF Retail Lease in Union, New Jersey

by Taylor Williams

UNION, N.J. ­— Automotive repair company Caliber Collision has signed an 11,815-square-foot retail lease in the Northern New Jersey community of Union. According to LoopNet Inc., the single-tenant property at 2260 Route 22 E was originally built in 2000. Neil Goldstein and John Ostrowski of The Goldstein Group represented the undisclosed landlord in the lease negotiations. Sean Pyle and Justin Korinis of Sabre Real Estates Advisors represented Caliber Collision.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentLoansMultifamilyNew YorkNortheastTop Stories

JV Receives Construction Financing for $125M Rialto West Affordable Housing Development in Hell’s Kitchen

by Kristin Harlow

NEW YORK CITY — A joint venture between Douglaston Development and the Entertainment Community Fund has received construction financing for Rialto West, a $125 million affordable housing development in Manhattan’s Hell’s Kitchen neighborhood. Located at 509 W. 48th St., the eight-story building will include 158 units for low- and moderate-income residents. Rialto West will feature a mix of studio, one-, two- and three-bedroom units that will be designated for households earning up to 140 percent of the area median income. Fifteen percent of the units will be dedicated to serving formerly homeless households. Shared amenity spaces will include a fitness center, laundry room and bicycle storage area. Additionally, the development’s ground floor will include more than 5,500 square feet of cultural space as well as a public restroom facing an approximately 25,000-square-foot public plaza that will be built at 705 Tenth Ave. The NYC Department of Parks and Recreation will operate the public open space, which is to be named after Lorraine Hansberry, the famed playwright and author of “A Raisin in the Sun.” The developers are in discussions with IndieSpace, a provider of affordable workspaces for artists, to lease and operate rehearsal and coworking spaces at the property. The …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts