News:
Brokerage
Posted: February 22, 2022
JLL Capital Markets complete sale of the 504-unit Alister Nanuet
Nanuet, NY JLL Capital Markets announced today that it has closed the sale of Alister Nanuet, a 504-unit, value-add multi-housing community. JLL worked on behalf of the seller. Cammeby’s acquired the asset, moving from contract to closing in less than 30 days.
Located less than a mile from the intersection of the Garden State Pkwy, Interstate-287, and the Palisades Interstate Pkwy, residents can easily access New Jersey, Connecticut and New York. In addition, Alister Nanuet is less than three miles from the Spring Valley and Nanuet Metro North Stations and Park and Rides, providing additional train and bus access to midtown and lower Manhattan. The property is only 10 miles from the Mario Cuomo Bridge and the New Jersey border, creating a short commute to employment areas in Westchester and Bergen Counties.
The JLL Capital Markets team representing the borrower was led by Jose Cruz, Michael Oliver, Steve Simonelli, Kevin O'Hearn and Michael Zlotnick.
“The renovation upside and infill location drove the investor interest for Alister Nanuet,” said Cruz. “The suburban New York area multi-housing market is going into 2022 with strong rent growth and significant demand from multiple capital sources.”
Tags:
Brokerage
MORE FROM Brokerage
SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds
Manhattan, NY Investors are increasingly concentrating capital in the country’s most coveted retail corridors, with SoHo emerging as the nation’s most active trophy retail market,
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
