Wednesday, July 29, 2026
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IndustrialLeasing ActivityNortheastPennsylvania

ShipBob Signs 301,826 SF Industrial Lease in Bethlehem, Pennsylvania

by Taylor Williams

BETHLEHEM, PA. — ShipBob has signed a 301,826-square-foot industrial lease in the Lehigh Valley city of Bethlehem. The provider of fulfillment services for the e-commerce industry is taking the entirety of the space at Building E at Lehigh Valley Trade Center, which was developed as part of the 171-acre park’s third phase. Stream Realty Partners represented ShipBob in the lease negotiations. KBC Advisors represented the landlord, a partnership between Trammell Crow Co. and Clarion Partners. The deal brings the third phase of Lehigh Valley Trade Center to full occupancy.

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AcquisitionsCivicNew York

St. John’s University Sells Staten Island Campus to Wagner College

by Taylor Williams

NEW YORK CITY — St. John’s University has sold its Staten Island Campus to Wagner College, whose main campus is located about a quarter of a mile away. The sales price was not disclosed, but the asking price was $35 million. The campus was originally the home of Notre Dame College, an independent women’s college that was established in the 1930s and was consolidated with St. John’s University in 1971. St. John’s completed a planned, two-year phase-out of academic operations at the campus in 2024. Arthur Mirante, David Carlos, Michael Bertini and Mark Todrys of Savills brokered the deal.

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Affordable HousingLoansMassachusettsMultifamilyNortheast

MassHousing Provides $26.4M in Financing for Boston Affordable Housing Property

by Taylor Williams

BOSTON — MassHousing has provided $26.4 million in financing for Beacon House, a 135-unit affordable housing property in Boston’s Beacon Hill neighborhood. The eight-story building was converted from a hotel to residential use in 1983. Of the 135 units, 117 are rentals that are subject to a range of income restrictions, and 18 units are rented through a commercial lease to nearby Massachusetts General Hospital for use by patients and their family members. The borrower, nonprofit organization Rogerson Communities, will use the proceeds to refinance existing debt, fund capital improvements and preserve the property’s affordability status.

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Affordable HousingDevelopmentMultifamilyNortheastPennsylvaniaSeniors Housing

Pennrose, WORC Complete 55-Unit Affordable Seniors Housing Redevelopment in Philadelphia

by Taylor Williams

PHILADELPHIA — A partnership between owner-operator Pennrose and the Wynnefield Overbrook Revitalization Corp. (WORC) has completed Good Shepherd, a 55-unit affordable seniors housing complex in Philadelphia’s Overbrook area that is a redevelopment of the former Good Shepherd Presbyterian Church, which was destroyed by fire in 2016. Good Shepherd’s one-bedroom units have an average size of 605 square feet and are reserved for renters age 62 and above who earn between 20 and 60 percent of the area median income. Amenities include a fitness center, multi-purpose room and flex space, and residents also have access to social, health and other educational support programs and services.

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1333-Broadway-Brooklyn
LoansMixed-UseNew YorkNortheast

JLL Arranges $58M Loan for Refinancing of Brooklyn Mixed-Use Building

by Taylor Williams

NEW YORK CITY — JLL has arranged a $58 million loan for the refinancing of 1333 Broadway, a mixed-use property in the Bushwick neighborhood of Brooklyn. Completed in April, the 20-story, 97,526-square-foot building houses 74 market-rate apartments, 32 affordable apartments and 29,000 square feet of commercial space. Peter Rotchford, Rob Hinckley and Robert Tonnessen of JLL arranged the loan through Barings on behalf of the borrower, a joint venture between Ekstein Development Group and Standard Real Estate Investments.

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Leasing ActivityNew YorkNortheastOffice

Howden Signs 31,519 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Howden has signed a 31,519-square-foot office lease in Midtown Manhattan. The global insurance brokerage firm is taking space on the 53rd floor at One Five One, a 1.8 million-square-foot tower located at 151 W. 42nd St. Sheena Gohil, Bob Rosenthal and Jack Senske of Colliers represented Howden in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban represented the landlord, The Durst Organization, on an internal basis.

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AcquisitionsConnecticutMultifamilyNortheastStudent Housing

Marcus & Millichap Brokers Sale of 30-Unit Student Housing Property in Hamden, Connecticut

by Taylor Williams

HAMDEN, CONN. — Marcus & Millichap has brokered the sale of Pine Rock Townhomes, a 30-unit student housing property that is located adjacent to Southern Connecticut State University in Hamden. Built in 2012 and renovated in 2022, the property offers four-bedroom, townhome-style units with an average size of 1,850 square feet. Eric Pentore, Wes Klockner and Ross Friedel of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Leasing ActivityNew YorkNortheastOffice

Cushman & Wakefield Negotiates 14,000 SF Office Lease in Midtown Manhattan 

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has negotiated a 14,000-square-foot office lease at 685 Third Avenue in Midtown Manhattan. The tenant, law firm Gallet Dreyer & Berkey LLP, will occupy the 28th floor of the 31-story tower, which recently underwent renovations. Garrett Varricchio, Mark Weiss and Michael Montesi of Cushman & Wakefield represented the law firm in the lease negotiations. BGO, the institutional investment firm formerly known as Bentall Green Oak, owns the building.

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Regions Ann Atkins Multifamily July
CaliforniaContent PartnerFeaturesLoansMultifamilyNortheastRegions Real Estate Capital MarketsSoutheastWestern

Resilient Demand in Key Regions Supports Multifamily Through Midyear Challenges

by Sarah Daniels

By Ann Atkinson, Regions Real Estate Capital Markets Midway through 2026, the multifamily industry appears to be holding steady. By many accounts, fundamentals are weathering uncertainties across the economy, job markets and geopolitical arenas. While some key metrics have softened, the overall health of the apartments sector demonstrates how essential this class of real estate is. Simply stated, everyone needs a safe place to call home. Sustained demand for rental units remains central to the sector’s health, and conditions in the for-sale market continue to shape that demand directly. For many households, homeownership has become increasingly out of reach. Affordability has eroded sharply over the past decade, driven by land use restrictions, constrained housing supply and a widening gap between mortgage costs and income, according to an October Goldman Sachs’ U.S. outlook for housing supply and affordability. Elevated interest rates in recent years have only added to the strain. Together, these factors are keeping many Americans in rentals far longer than they might have planned. Even with strong demand, the apartments market isn’t without challenges. The industry is still working through the surge in new unit supply that hit the market over the past few years. As a result, rents …

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Baldwinville-School-Apartments-Templeton-Massachusetts
Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

MPZ, Capstone Near Completion of $36M Multifamily Adaptive Reuse Project in Templeton, Massachusetts

by Taylor Williams

TEMPLETON, MASS. — A partnership between metro Boston-based MPZ Development and Capstone Communities is nearing completion of a $36 million multifamily adaptive reuse project in Templeton, about 65 miles northwest of Boston. A housing lottery was launched and closed on July 15, and full completion is slated for this fall. Designed by ICON Architecture, the project converted the historic Baldwinville Elementary School, which was originally built in 1923, into a 54-unit apartment complex known as Baldwinville School Apartments. Residences come in studio, one-, two- and three-bedroom floor plans, and the majority (49) of the units are reserved for households earning between 30 and 60 percent of the area median income. Amenities include a children’s playground, fitness center, electric vehicle charging stations, onsite laundry facilities and a community walking trail and green space.

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