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Slate Property Group closes $160 million bridge loan for Namdar Group 618 Pavonia Ave in Jersey City...
July 11, 2023
Jersey City, NJ Slate Property Group announced that its lending arm, SCALE, has provided Namdar Group with a $160 million bridge loan for 618 Pavonia Ave. in the Journal Square neighborhood. The bridge loan will be used to retire $120 million in construction financing and fund the lease-up and stabilization of the 27-story, 432-unit residential building
How community engagement drives more equitable outcomes in the design process - by Gray Dougherty
July 11, 2023
New projects and buildings have wide-ranging effects on surrounding communities, ecosystems, and businesses. They impact the physical and mental well-being of individuals, the equitable distribution of economic resources, and future business opportunities. When a developer doesn’t seek out meaningful community input, they risk alienating neighborhoods and locals, while also missing a great opportunity to enrich the design impact
BHI provides $27.34 million Senior Secured construction loan to 13th Floor Homes LLC
July 11, 2023
Port St. Lucie, FL BHI, a full-service commercial bank, announced that it has provided a $27.343 million Senior Secured construction loan to 13th Floor Homes LLC to finance enhancements to and completion of Villas of Torino, a multi-family
Meridian Capital Group arranges $48 million in financing to refinance a multifamily portfolio
July 11, 2023
Bayonne, NJ Meridian Capital Group has arranged $47.9 million in financing to refinance a portfolio of multifamily properties. The five-year loan features 24 months of interest-only payments, a five-year extension option, and was provided by a balance sheet lender. Meridian managing director, Judah Hammer, and vice president, Daniel Neiss, who are both based in the company’s New York
Rockabill Consulting secures $22 million for St. Francis Friends of the Poor to finance the reha...
July 11, 2023
Manhattan, NY Rockabill, a leading consultant and development partner for the affordable and supportive housing industry, announced that it has secured $22 million in financing on behalf of its client St. Francis Friends of the Poor, a nonprofit that pioneered the permanent supportive
Fisher Brothers unveils Wynhouse Miami, mixed-use multifamily development
July 11, 2023
Miami, FL Fisher Brothers, a fourth-generation real estate company that owns, manages and operates spaces across the country, announced the start of construction of Wynhouse Miami, a mixed-use multifamily development. Wynhouse Miami will rise eight stories and offer 308 rental residences, approximately 26,000 s/f of ground floor retail and paseo space and nearly 25,000 s/f of expansive indoor and outdoor
GFI Realty Services co-brokers a $15.75 million sale of 117-acre site in Palmdale, CA
July 11, 2023
Palmdale, CA GFI Realty Services, LLC has closed on the $15.75 million sale of a 117.38-acre development site. Trader Joe’s is constructing a 1.03 million s/f distribution facility on the parcel with completion anticipated by the end of 2024. The GFI Realty Institutional Advisory team of Managing Director, Joshua Peck and Group Director, Susan Annis co-brokered this
Verada leases retail space to Bouldering Gym in New Haven
June 27, 2023
New Haven, CT Verada, a Brooklyn based boutique real estate firm specializing in commercial retail space leasing and sales, announced Retail at Square 10, a new development. The Square 10 project offers a total of 12,500 s/f of commercial retail space, divided into three&
Basis Investment Group relocates to 180 Maiden Ln.
July 25, 2023
Manhattan, NY CRE investment platform Basis Investment Group will relocate its FiDi headquarters from 75 Broad St. to 180 Maiden Ln. Basis will occupy 10,091 s/f on part of the 32nd floor of the waterfront 41-story office tower
An inside look of the transformative new tax incentive program to re-imagine Manhattan CBDs
July 11, 2023
Manhattan, NY BOMA New York board of directors received a private presentation to review the specifics of the newly announced M-CORE program developed by the NYC Economic Development Corp. and the NYC Industrial Development Agency.
Two great IREM NYC chapter events held in Queens in June
July 11, 2023
Queens, NY June 14th’s baseball subway series was, as always, a big hit! IREM NYC industry partner Ascend Consulting Group sponsored the tailgate; former IREM chapter president Frank Socci served as in-house chef. Cornhole, music, dancing ensued. A
Professional Women in Construction New York Chapter hosts “How will AI Benefit the Build Environm...
July 11, 2023
Manhttan, NY On June 14, Professional Women in Construction’s PDAC Committee hosted “How Will AI Benefit the Build Environment,” a fascinating and educational presentation into how architecture, engineering, and construction firms can
NYC Local Law 97: A game-changing ordinance for a sustainable future - by James Cinelli
July 11, 2023
In a world grappling with the urgent need to combat climate change, New York City has taken a pioneering step by implementing Local Law 97. This groundbreaking ordinance, introduced in 2019, aims to significantly reduce greenhouse gas emissions from buildings—the largest source
Why a disaster safety plan is essential for your property - by Ron Fanish
July 11, 2023
Property managers face a multitude of tough tasks, from tenant retention to building maintenance and beyond. Perhaps the most difficult role, however, is responding to natural disasters. Fires, floods, hurricanes, and other catastrophes can severely damage properties and, more importantly,
As the Big Apple goes green with electric vehicles, is your parking garage ready to handle the char...
July 11, 2023
New York City parking garage operators are facing a tough challenge to cater to the growing demand for electric vehicle (EV)charging stations. The surge in EV usage has put the parking garages in a fix, as they struggle to keep up with the increase charging demand. While
Global One Real Estate Fund recapitalizes two affordable housing complexes
July 11, 2023
Bronx, NY Global One Real Estate Fund, an affiliate of Nelson Management Group, has partnered with The Vistria Group to recapitalize a pair of affordable housing properties in its portfolio, Lafayette-Boynton Apartments and Promenade Apartments. Freddie Mac and KeyBank
Kesner joins Simpson Gumpertz & Heger as project director
July 11, 2023
Manhattan, NY Keith Kesner has joined Simpson Gumpertz & Heger (SGH) as a project director, bolstering the firm’s repair and rehabilitation expertise and knowledge of concrete performance for new and existing structures. He will join SGH’s Structural Engineering
Two Trees Management unveils three new office lobbies
July 11, 2023
Brooklyn, NY Two Trees Management Co. unveiled three lobby renovations at its office buildings in DUMBO – 45 Main St., 55 Washington St., and 20 Jay St. Designed by Bonetti/Kozerski Architecture, the 45 Main St. and 55 Washington St. lobbies feature lit interiors
G2D Group introduces Latch Keyless Entry
July 11, 2023
Huntington, NY G2D Group has introduced Latch Keyless Entry, an access control system, into their residential buildings. G2D Group aims to revolutionize building access, making properties safer, more convenient, and ultimately enhancing the overall living
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