Multifamily

NEW YORK CITY — Construction is complete for the $39 million renovation of Riverdale Osborne Towers, a four-building, 523-unit affordable housing community located at 440 Watkins St. in the Brownsville neighborhood of Brooklyn, New York City. The project included the installation of new windows in all apartments, the replacement of two roofs, three new boilers, the replacement of all eight elevators, two new gas-fired furnaces, façade repairs, new gates and apartment entry doors, and a new lobby entrance and management office. The project was completed by a partnership that included CPC Resources, Catholic Charities Progress of Peoples Development Corp. and East Brooklyn Congregations.

NEW YORK CITY — Massey Knakal Realty Services has completed the sale of two multifamily buildings in Manhattan, New York City. In the first transaction, Massey Knakal's Thomas Gammino arranged the sale of a five-story walk-up building located at 504 E. 84th St. on the Upper East Side. The building, which traded for $2.67 million, features eight residential units, including a 2,900-square-foot owner duplex with a garden. Five of the units are free market and three are rent stabilized. The building also includes a rooftop antenna currently rented to Sprint and 2,100 square feet of air rights. In the second transaction, Massey Knakal's Michael DeCheser arranged the $2.4 million sale of a commercial loft building located at 112 Stanton St. on the Lower East Side. The six-story building contains a ground-floor retail space with basement space as well as six residential units above. Three units are currently occupied by interim multiple dwelling tenants and the other three are vacant. The buyers and sellers in both transactions were not disclosed.

NEW YORK CITY — Massey Knakal Realty Services has completed two New York City multifamily sales for a total of $3.7 million. In the first transaction, Massey Knakal's Paul Smadbeck arranged the sale of a five-story property located at 338 W. 77th St. on the Upper West Side of Manhattan for $2.6 million. The building contains seven one-bedroomm residences and three studios. Six of the units are rent stabilized and four are free market. In the second transaction, Massey Knakal's Mark Lively brokered the sale of a three-story building located at 640 Manhattan Ave. in Brooklyn's Greenpoint neighborhood for $1.6 million. The building contains one three-bedroom apartment, one two-bedroom apartment and one ground-floor commercial unit. The buyers and sellers in both transactions were undisclosed. Massey Knakal was also the sole broker in both deals.