Northeast

MassDevelopment Provides $38M in Bond Financing for Worcester Affordable Housing Project

by Taylor Williams April 6, 2026

WORCESTER, MASS. — MassDevelopment has provided $38 million in tax-exempt bond financing for an affordable housing project in Worcester. The project is a redevelopment of Lakeside Apartments, a two-building complex that was constructed in 1949. The developer, a partnership between an affiliate of Tremont Development Partners and E3 Development, plans to construct two new buildings with a total of 116 units, 61 of which will replace outdated residences. Of the 116 units, 29 will be rented to households earning 60 percent or less of the area median income (AMI), and the other 87 will be reserved for households at 30 percent or less of AMI. Construction is underway and is expected to be complete in August 2027. Eastern Bank purchased the bond, with participation from Webster Bank. The Worcester Housing Authority is also a partner on the project.

April 6, 2026

Acquisitions Development Industrial New Jersey Northeast Self-Storage

Safely Store Buys Self-Storage Redevelopment Site in North Bergen, New Jersey

by Taylor Williams April 6, 2026

NORTH BERGEN, N.J. — Safely Store has purchased a self-storage redevelopment site in North Bergen, located across the Hudson River from New York City. The site at 3131 Kennedy Blvd. houses a vacant, 73,398-square-foot building that was originally constructed in 1999 and previously functioned as a movie theater. Safely Store plans to convert the building into a four story self-storage facility with 103,000 net rentable square feet of climate-controlled space. Jose Cruz, Nicholas Stefans, Jason Lundy and Luke Ceccoli of JLL represented the seller, Madison International Realty, in the transaction.

April 6, 2026

Acquisitions Multifamily New York Northeast

Brax Realty Arranges $10.2M Sale of Multifamily Development Site in Queens

by Taylor Williams April 6, 2026

NEW YORK CITY — Locally based brokerage firm Brax Realty has arranged the $10.2 million sale of a multifamily development site in the Long Island City area of Queens. The site at 42-73 and 42-71 Hunter St. can support 24,885 buildable square feet of residential product. Cole Kinney Leonhardt of Brax Realty represented the buyer and seller, both of which requested anonymity, in the transaction.

April 6, 2026

Acquisitions Mixed-Use Northeast Pennsylvania

Marcus & Millichap Brokers Sale of 18,000 SF Mixed-Use Building in Metro Philadelphia

by Taylor Williams April 6, 2026

NEWTOWN SQUARE, PA. — Marcus & Millichap has brokered the sale of an 18,000-square-foot mixed-use building in Newtown Square, a western suburb of Philadelphia. Known as the Fieldstone Building, the structure at 4930 West Chester Pike houses 11 residential units and four commercial suites. Vince Peruto of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

April 6, 2026

Development Multifamily New York Northeast

Moinian Group Begins Leasing 38-Story Apartment Building in Lower Manhattan

by Taylor Williams April 3, 2026

NEW YORK CITY — Locally based owner-operator The Moinian Group has begun leasing ARIA 7 Platt, a 38-story apartment building located in the Financial District of Lower Manhattan. Designed by Hill West with interiors by Rockwell Group and built by AECOM Tishman, ARIA 7 Platt houses 250 units in studio, one-, two- and three-bedroom floor plans, well as penthouse residences. Indoor amenities include a fitness center, library, work pods, lounges, private dining spaces with outdoor terrace access, a gaming and virtual reality area and a communal kitchen. Outside, residents have access to a rooftop sundeck, garden lounge, movie lounge, dining areas and outdoor coworking space. Information on starting rents was not disclosed.

April 3, 2026

New York Northeast Office

JLL Arranges $62M Equity Investment for Manhattan Office Building

by Taylor Williams April 3, 2026

NEW YORK CITY — JLL has arranged a $62 million preferred equity investment for 51 Astor Place, a 386,000-square-foot office building in Manhattan’s NoHo neighborhood. Designed by architect Fumihiko Maki, the 12-story building was completed in 2013 and is leased to tenants such as Intuit, Perceptive Advisors and Tudor Investments. Kelly Gaines, Drew Isaacson, Christopher Pratt and Jennifer Zelko of JLL represented the sponsor, a joint venture between Edward J. Minskoff Equities Inc. and LaSalle Investment Management, in securing the investment from Meadow Partners.

April 3, 2026

Leasing Activity New York Northeast Office

Dandy Signs 37,400 SF Office Headquarters Lease in Lower Manhattan

by Taylor Williams April 3, 2026

NEW YORK CITY — Dandy has signed a 37,400-square-foot office headquarters lease in the Financial District of Lower Manhattan. The dental technology company initially leased 18,700 square feet on the 30th floor of the building at 22 Cortlandt St. in October 2025 and then doubled its footprint by leasing the entire 31st floor. Peter Johnson and Alexis Odgers of Avison Young represented Dandy in the lease negotiations. Barrett Stern of B Stern CRE represented the landlord, a partnership between entities doing business as Mayore Estates LLC and 80 Lafayette Associates LLC.

April 3, 2026

Leasing Activity New Jersey Northeast Retail

Ace Pickleball Opens 26,500 SF Athletic Facility in North Brunswick, New Jersey

by Taylor Williams April 3, 2026

NORTH BRUNSWICK, N.J. — Ace Pickleball Club has opened a 26,500-square-foot athletic facility in North Brunswick, about 40 miles southwest of Manhattan. The space is located within the 288,000-square-foot Brunswick Shopping Center, and the club will offer flexible, all-inclusive membership options for players, as well as host private events and corporate outings. Fred Younkin of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Marta Villa of CBRE represented Ace Pickleball.

April 3, 2026

Development Loans Multifamily New York Northeast Office

Naftali Provides $203M in Financing for Office-to-Residential Conversion Project in Manhattan

by Taylor Williams April 2, 2026

NEW YORK CITY — Naftali Credit Partners, an alternative lender and subsidiary of global investment firm Naftali Group, has provided $203 million in financing for an office-to-residential conversion project in Midtown Manhattan. The financing comprises a $167 million senior loan and a $36 million mezzanine loan. The borrower is private equity firm Yellowstone Real Estate Investments, and the property in question is the 25-story building at 221 West 41st St., which was originally constructed in 1925. The converted building will include a 25 percent affordable housing component and amenities such as a fitness center, spa, golf simulator, lounge and an outdoor terrace. A construction timeline was not announced.

April 2, 2026

Development Massachusetts Multifamily Northeast Student Housing

Partnership Breaks Ground on 1,200-Bed Residence Hall at Northeastern University in Boston

by Taylor Williams April 2, 2026

BOSTON — A public-private partnership between American Campus Communities (ACC) and Northeastern University has broken ground on a 1,200-bed residence hall at 840 Columbus Ave. on the institution’s campus in Boston. The 23-story project will feature 11,000 square feet of publicly accessible community space, including a second-level outdoor deck and 4,000 square feet of ground-level retail space, as well as shared learning spaces and wellness amenities. Scheduled for completion in fall 2028, the project is being developed through ACC’s American Campus Equity program and is the largest on-campus equity development in the company’s history.

April 2, 2026

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