Northeast

Cushman & Wakefield Arranges $88M Construction Loan for Multifamily Project in Greenwich, Connecticut

by Taylor Williams February 18, 2026

GREENWICH, CONN. — Cushman & Wakefield has arranged an $88 million construction loan for Benedict Court, a 120-unit multifamily project that will be located in the southern coastal Connecticut city of Greenwich. Benedict Court will consist of 72 market-rate apartments and 48 affordable housing units. Amenities will include a rooftop deck, a resident lounge with a chef’s kitchen, coworking spaces, children’s playroom and a fitness center. Gideon Gil, Taylor Geiger, Cecelia Galligan and Nick Pappas of Cushman & Wakefield arranged the loan through Santander Bank. The borrower is a partnership between Lonicera Partners, Nimbus Properties and Benedict Capital. Construction is now underway, and completion is slated for summer 2028.

February 18, 2026

Healthcare Leasing Activity Life Sciences Northeast Pennsylvania

Drexel University to Open 150,741 SF Healthcare, Life Sciences Facility in Philadelphia

by Taylor Williams February 18, 2026

PHILADELPHIA — Drexel University will open a 150,741-square-foot healthcare and life sciences facility in Philadelphia’s University City area. The space spans four of the 11 stories within the building at 3201 Cuthbert St., which is adjacent to Drexel’s campus. The university plans to consolidate the entirety of its research and laboratory operations within the Drexel University College of Medicine in the new building, which was designed by Robert A.M. Stern Architects and is owned by a partnership between Gattuso Development Partners and Vigilant Holdings Occupancy is slated for mid-2027.

February 18, 2026

Acquisitions Connecticut Northeast Office

Vidal/Wettenstein Negotiates $3.7M Sale of Office Building in Trumbull, Connecticut

by Taylor Williams February 18, 2026

TRUMBULL, CONN. — Locally based brokerage firm Vidal/Wettenstein has negotiated the $3.7 million sale of a 112,544-square-foot office building in the southern coastal Connecticut city of Trumbull. The buyer, Kubtec, a provider of digital imaging equipment, will convert the first two floors of the building at 75 Merritt Blvd. to support its production, assembly and quality control initiatives. Bruce Wettenstein of Vidal/Wettenstein represented the buyer in the transaction. Alan Fischer of Fischer Real Estate represented the seller, Sachem Capital Corp.

February 18, 2026

Acquisitions Northeast Pennsylvania Retail

CBRE Brokers Sale of 52,750 SF Shopping Center in North Pittsburgh

by Taylor Williams February 18, 2026

PITTSBURGH — CBRE has brokered the sale of a 52,750-square-foot shopping center in North Pittsburgh. Located at 4885 McKnight Road and known as McKnight Siebert, the center is home to tenants such as Walgreens, Starbucks, The UPS Store, Bruegger’s Bagels, Sport Clips and T-Mobile. First Washington Realty sold the center to full-service firm Shannon Waltchack for an undisclosed price. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE brokered the deal.

February 18, 2026

Acquisitions New York Northeast Retail

Black Diamond Buys 2.3 MSF Palisades Center Mall in West Nyack, New York

by Taylor Williams February 17, 2026

WEST NYACK, N.Y. — Black Diamond Capital Management, a Connecticut-based alternative investment firm, has purchased Palisades Center, a 2.3 million-square-foot mall in West Nyack, about 35 miles north of New York City. According to the Rockland County Business Journal, Palisades Center sold for $175 million at auction after being originally listed for $463.4 million. According to Wikipedia, the shopping, dining and entertainment destination is the 12th largest U.S. mall by gross leasable area and was first developed by Pyramid Cos., ultimately opening in March 1998. Black Diamond plans to be a long-term owner of Palisades Center and to invest in various capital improvements to attract new users; the Rockland County Business Journal also reports that Palisades Center currently has two vacant anchor spaces that were previously occupied by Lord & Taylor and J.C. Penney. Spinoso Real Estate will operate the property as it has since fall 2024.

February 17, 2026

Affordable Housing Development Multifamily New York Northeast

Joint Venture to Develop 213-Unit Affordable Housing Project in Brooklyn

by Taylor Williams February 17, 2026

NEW YORK CITY — A joint venture between Slate Property Group and Thorobird Cos. will develop a 213-unit multifamily project in Brooklyn. Designed by Think! Architecture + Design PLLC, the building will be located on a city-owned site at 570 Eldert Lane in the borough’s Cypress Hills area. Of the 213 units, 66 apartments, which will come in one-, two-, three- and four-bedroom floor plans, 66 will be set aside for formerly homeless residents. The remaining units will be reserved for households earning between 40 and 80 percent of the area median income. The building will also have 10,000 square feet of community space that will be operated by the Bangladeshi American Community Development & Youth Services. Completion is slated for summer 2028, with full occupancy planned for 2029.

February 17, 2026

Woodmont-Commons-Apartments-Londonderry-New-Hampshire

Acquisitions Loans Multifamily New Hampshire Northeast

JLL Arranges $25.2M Acquisition Loan for Southern New Hampshire Apartments

by Taylor Williams February 17, 2026

LONDONDERRY, N.H. — JLL has arranged a $25.2 million acquisition loan for Woodmont Commons Apartments, an 87-unit multifamily complex in Londonderry, located near the Massachusetts-New Hampshire border. Built in 2019 within the 600-acre Woodmont Commons master-planned community, the property includes a 31,341-square-foot retail component. Residences come in one-, two- and three-bedroom floor plans. Riaz Cassum, Ryan Parker, Hunter Cuthbertson and Joe Marinaro of JLL arranged the fixed-rate loan through Metro Credit Union on behalf of the borrower, metro Boston-based Cambridge West Partners.

February 17, 2026

Affordable Housing Development Massachusetts Multifamily Northeast

MassDevelopment Provides $23.5M in Bond Financing for Metro Boston Affordable Housing Project

by Taylor Williams February 17, 2026

REVERE, MASS. — MassDevelopment has provided $23.5 million in tax-exempt bond financing for a 56-unit affordable housing project in Revere, located just east of Boston. The building at 110 Ocean Ave. will have 32 units for households earning 50 percent or less of the area median income (AMI) and 24 units for households earning 30 percent or less of AMI. In addition to 48 one-, two- and three-bedroom units, the building will also have eight group living units. The borrower is an affiliate of local owner-operator The Neighborhood Developers.Construction is underway and is expected to be complete in fall 2027. TD Bank purchased the bond.

February 17, 2026

Development Massachusetts Multifamily Northeast

Greystar Tops Out 416-Unit Multifamily Project in Everett, Massachusetts

by Taylor Williams February 16, 2026

EVERETT, MASS. — South Carolina-based developer Greystar has topped out a 416-unit multifamily project in the eastern Boston suburb of Everett. The project represents the second phase of a larger development at 1690 Revere Beach Parkway, the first phase of which totals 325 units and is known as Jade. Phase II is known as Juniper and will offer amenities such as courtyards, a fitness center and a lounge with a golf simulator. CUBE3 Architects designed both properties, which between them will include 850 parking spaces and 10,500 square feet of retail space. Juniper is expected to be complete before the end of the year. Construction of Juniper began in summer 2024.

February 16, 2026

Acquisitions Multifamily New York Northeast

JLL Brokers $30.7M Sale of Apartment Complex in Port Chester, New York

by Taylor Williams February 16, 2026

PORT CHESTER, N.Y. — JLL has brokered the $30.7 million sale of an apartment complex at 1 N. Main St. in Port Chester, located along the New York-Connecticut border, that was built in 2022 and includes 7,630 square feet of retail space. According to Apartments.com, the building totals 79 units. Residences come in studio, one- and two-bedroom floor plans. Jose Cruz, Jeffrey Julien, Steve Simonelli and Austin Pierce of JLL represented the seller and original developer, a partnership between an affiliate of G&S Investors and Robert Martin Co., in the deal. The buyer was regional development and investment firm KABR Group.

February 16, 2026

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