28 posts about Multifamily from across Skyline Properties' social platforms and curated industry sources.
<![CDATA[It’s déjà vu for Gaia Real Estate. The developer landed for the second straight year a one-year extension for its $48 million loan on loan with Raymond James Bank backing a multifamily property at 55 Hope Street in Williamsburg, Brooklyn, Commercial Observer can first report. The extension pushed the loan maturity to August 2027, which […]]]>
View on RSS →<![CDATA[ Paterson, NJ Avatar Financial Group LLC (Avatar) provided a $3.7million cash-out bridge loan on a newly constructed mixed-use property at 59 Pearl St. The two-year, first-lien loan was originated at 64% loan-to-value. The borrower, an experienced New Jersey multifamily developer, owner]]>
View on RSS →<![CDATA[Nearly four years after mortgage rates surpassed 6 percent for the first time since the height of the 2008 financial crisis, borrowing conditions for homeowners and prospective buyers have remained stubbornly elevated with no signs of abating anytime soon. The average U.S. 30-year fixed mortgage rate went up to 6.02 percent from 5.89 percent for […]]]>
View on RSS →<![CDATA[Across the U.S., owners of multifamily properties are confronting a growing problem that threatens the health of our housing: The cost and availability of liability insurance is making it increasingly difficult to operate a building. The strain, which threatens to stall much-needed housing development, hits smaller landlords hardest, undercutting cash flow, jeopardizing maintenance budgets, and […]]]>
View on RSS →Federal Data Misses Billions In Potential Multifamily Development Globest
View on RSS →<![CDATA[The demand for apartments across the Hudson River keeps rising. Namdar Group has landed $310 million of construction financing to build a 47-story multifamily tower in Jersey City, N.J., Commercial Observer has learned. Affinius Capital originated the loan for Namdar’s 1,049-unit Park Tower project in Jersey City’s Journal Square neighborhood. The large-scale development was given […]]]>
View on RSS →Washington Heights landlord hit with foreclosure suit over two apartment buildings Crain's New York
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View on Tumblr →<![CDATA[CedarSt Companies has secured $80 million in construction financing for a 197-unit apartment development in San Diego’s North Park neighborhood. CrossHarbor Capital Partners provided the three-year, floating-rate stretch-senior loan for the Samuel, an eight-story Class A project planned for 2821 Adams Avenue. JLL Capital Markets announced the loan Monday, and JLL’s Zach Kersten, Jack Wood […]]]>
View on RSS →<![CDATA[New Jersey developer Yisroel Berger has sealed a $70 million loan to refinance a newly redeveloped multifamily tower in Newark, N.J., Commercial Observer has learned. A fund managed by Dwight Investment Management, a registered investment adviser affiliated with Dwight Capital, provided the nonrecourse, interest-only loan for the 216-unit Cosmo 440 project in Newark’s South Ward […]]]>
View on RSS →<![CDATA[Multifamily development firm Cortland sold a garden-style rental complex in West Palm Beach, Fla., for $208 million, property records show. The transaction ranks among South Florida’s largest multifamily sales this year, although it marked a discount for the Atlanta-based seller. Fairfield Residential bought the 812-unit asset, called Portofino Place Apartments. The property houses 34 three-story […]]]>
View on RSS →<![CDATA[New York City-based real estate development firm Westbridge Realty Group has filed plans to build three 99-unit residential buildings on a development site in the Bronx’s Soundview neighborhood, the latest example of the trend to cap multifamily projects at 99 units to reap maximum benefit from the city’s 485-x tax incentive. Steven Westreich, president and […]]]>
View on RSS →<![CDATA[ Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 205 Ashland Pl. (also known as 30 St. Felix St.), a multi-fam]]>
View on RSS →<![CDATA[ Bronx, NY Investment Property Realty Group (IPRG) closed the sale of 1684 Banyer Place, a multi-family building located in the ]]>
View on RSS →<![CDATA[The Drake Group has sealed a $32 million loan to refinance a newly built multifamily community in suburban Chicago, Commercial Observer has learned. Knighthead Funding supplied the loan for the 62-unit the Drake Group’s Cerca property in Glenview, Ill., that opened in June. The debt refinances a previous construction facility and pays off the property’s […]]]>
View on RSS →<![CDATA[Rob Whiting is the co-founder and CEO of Boom, a proptech company building the future of rental financial services for residential property managers across single-family rental, manufactured housing and multifamily. Boom’s three products — Boom Report for rent reporting, Boom Screen for applicant underwriting, and Boom CRM for agentic leasing and self-showing — serve hundreds of […]]]>
View on RSS →Brooklyn multifamily building outside rent control sells for $16M Crain's New York
View on RSS →<![CDATA[Local real estate investor Jo-Ann Obergfell is buying a 51-unit multifamily property in East Williamsburg, Brooklyn. The low-profile Obergfell, using the LLC 59 Bogart tied to an address in Brooklyn, acquired 59 Bogart Street from T30 Capital for $30 million, according to property records and seller broker CBRE. Originally an industrial property, the three-story building […]]]>
View on RSS →<![CDATA[Following a generational merger, the largest apartment real estate investment trust (REIT) in the business just made things a little more official. Days after AvalonBay Communities and Equity Residential completed their $71 billion merger — the largest merger of publicly traded REITs in history — the new firm, Vivmark Residential, has transferred seven apartment complexes […]]]>
View on RSS →East Williamsburg multifamily building sells at a loss for $30M Crain's New York
View on RSS →NYC Rent Freeze Raises Stakes for Banks With Multifamily Exposure Globest
View on RSS →<![CDATA[The world’s borough might attract some new residents soon. There’s a multifamily squeeze in Queens as the rental market tightens amid a dip in new construction, according to new data from CoStar. But experts on the borough’s housing market say this drop won’t last too much longer. The vacancy rate in Queens’ multifamily market declined […]]]>
View on RSS →<![CDATA[SHAC Apartment Communities (SHAC) has landed $123.5 million of construction financing to build a multifamily project in the San Francisco Bay Area, Commercial Observer has learned. Fifth Third Bank and California Bank & Trust (CB&T) provided a $96.5 million senior construction loan for the developer’s planned apartment community in San Carlos, Calif. TruAmerica Multifamily also closed […]]]>
View on RSS →<![CDATA[Queens, NY Arrow Real Estate Advisors arranged a $105 million lease-up refinance on behalf of Watermark Capital Group for The Pecora, a newly delivered Class A multifamily property located at 41-10 Crescent St. in Long Island City. The financing was secured against the leasehold interest i]]>
View on RSS →<![CDATA[Huntington Station, NY Silver Arch Capital Partners closed a $5.66 million loan secured by a newly developed mixed-use property.]]>
View on RSS →<![CDATA[ What was the most rewarding project or deal you’ve worked on in the past 12 months, and why? The most rewarding project I’ve worked on this year is a multi-family development in the Village of Floral Park. It features conventional, senior and workforce housing wit]]>
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