Multifamily commercial real estate news and analysis.
RXR and One Investment Management have landed nearly half a billion dollars in financing to reposition a struggling Financial District office tower into nearly 800 rental units, marking one of the most significant adaptive reuse projects in downtown Manhattan.
In a surprising turn of events, New York Mayor Zohran Mamdani and President Donald Trump have convened to discuss the revival of the Sunnyside Yards housing project, potentially unlocking a massive new inventory of affordable residences in Queens.
In a significant vote of confidence for adaptive reuse, RXR and One Investment Management have secured $475 million to transform a distressed Lower Manhattan office tower into nearly 800 rental units.
A New York City-based multifamily specialist has added three adjacent walk-up buildings on West 96th Street to its holdings, continuing a strategy of concentrated neighborhood investment in Manhattan's residential corridors.
In a move that consolidates a significant residential block, Witnick Real Estate Partners has acquired three adjacent multifamily buildings on Manhattan's
Twin Group Associates seeks to capitalize on the shifting dynamics of Lower Manhattan by converting a six-story commercial property into residential units, further cementing the area's evolution from a strictly business-centric hub.
JGK Real Estate Holdings has divested a pre-war residential property in Manhattan's SoHo neighborhood, securing $23.4 million from a corporate buyer linked to a Brooklyn-based management firm.
A joint venture between former Miami Heat star Alonzo Mourning and Housing Trust Group has secured significant financing to move forward with a 96-unit affordable community for seniors in Hollywood, Florida.
Los Angeles-based investment manager TruAmerica Multifamily has successfully closed a $708 million fund dedicated to acquiring and enhancing Class B apartment communities across major U.S. markets. The vehicle aims to address the shortage of affordable rentals through purely private capital, avoiding government subsidy programs.
In a significant move within the Los Angeles multifamily sector, TruAmerica Multifamily has acquired a 60-unit luxury apartment community in Brentwood for $49.4 million. The transaction, brokered and financed by Institutional Property Advisors, highlights continued investor appetite for high-quality assets in prime Westside submarkets.
Fortress Investment Group provided a $96 million refinancing for Cityview's Jasper apartment building in Downtown Los Angeles, a 296-unit property that opened in 2023 amid a wave of new multifamily deliveries.