New York & Tri-State

Marcus & Millichap finalized the sale of 312 Bowery, a multifamily property in Manhattan’s NoHo neighborhood, for $16.65 million. John Stewart and Dylan Torey of Marcus & Millichap exclusively marketed the property on behalf of the seller, Bremen House, Inc., and procured the buyer, Allied Realty & Development Corp. “Buyer demand was some of the strongest …

Mayor Zohran Mamdani on Thursday issued the Rental Ripoff Report, a package of 23 tenant protection recommendations. The Real Estate Board of New York (REBNY) responded with a statement from President James Whelan saying that the administration “continues to paint property owners with a broad brush, unfairly characterizing an entire industry.” The recommendations, derived from …

A CBRE team led by Jeffrey Dunne, Eric Apfel, Stuart MacKenzie, Travis Langer, and Eric Greenberg closed the sale of Stamford Urby, a 641-unit Class A multifamily community in downtown Stamford, CT, for $221,000,000. CBRE exclusively represented the seller. The buyer is Pantzer, a fully integrated owner/operator of multifamily assets along the Eastern region of …

Kennedy Wilson has partnered with Kenedix, Inc. and Hulic Co., Ltd. to acquire Carraway, a 421-unit multifamily community in West Harrison, NY, for $237 million. The property has experienced strong leasing momentum, with rents increasing more than 5% over the past year, while remaining affordable relative to New York City housing alternatives. Completed in 2021 …

Lee & Associates NYC has completed the $7.5-million acquisition of a 2.84-acre development site at 374 Atlantic Ave. in Oceanside, NY on behalf of Sunrise Senior Living, concluding a transaction that spanned nearly nine years. Kelly Koukou, executive managing director and principal at Lee NYC, represented Sunrise Senior Living. Marlon Matza of Strategic Realty Advisors represented the sellers, Grossman Nurseries and Breslin …

JLL Capital Markets has arranged a $75-million development facility for Rechler Business District, a master-planned industrial business park in Medford, NY, within Long Island’s Suffolk County. Senior managing director Peter Rotchford and managing director Tyler Peck worked on behalf of Rechler Equity Partners to secure the financing through AllianceBernstein L.P. Rechler Business District encompasses a …

Greystone Real Estate Capital has closed on Greystone Affordable Housing Fund II LP, a $137-million multi-investor Low-Income Housing Tax Credit (LIHTC) fund. The fund will support the development and preservation of approximately 1,960 affordable housing units across 20 properties in nine states. Approximately 84% of the equity is for developments by repeat developers. The portfolio …

New York City multifamily sales totaled $2.46 billion across 298 transactions in the second quarter of 2026, representing a 25% year-over-year increase in dollar volume but 4% decline in transaction volume compared to Q2 2025, Ariel Property Advisors reported. The number of properties traded was down 11% Y-O-Y to 367. “What we are seeing in …

Meridian Capital Group arranged $186,000,000 in construction financing for Lido Oceanfront Residences, a new luxury condominium development located at 1201 Ocean Ave. N. in Asbury Park, NJ, on behalf of Inspired by Somerset Development. The loan was provided by Madison Realty Capital and was arranged by Meridian’s David Bollag and James Darling. Lido Oceanfront Residences will deliver 112 for-sale residences ranging from …

Walker & Dunlop arranged a $60-million bridge loan to refinance Bell Works Fort Monmouth,a mixed-use campus in Tinton Falls, NJ. The Walker & Dunlop Capital Markets Institutional Advisory team led by Dustin Stolly, Aaron Appel, Sean Reimer, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Ari Hirt and Stanley Cayre arranged the bridge loan provided by Hudson Bay Capital on behalf of a joint venture between Inspired by Somerset …

New York Gov. Kathy Hochul on Tuesday signed an executive order to create the nation’s first state-level moratorium on new hyperscale data centers. The order temporarily pauses state environmental permits for up to one year in order to build a regulatory framework that protects ratepayers, the environment, the energy grid and communities, Hochul’s office said. …

New York State remains one of the nation’s largest economic engines, but growth increasingly is concentrated downstate and in a few upstate urbanized employment centers, the Citizens Budget Commission (CBC) reported Monday. Outside the opportunity corridor, encompassing the New York City metro area and the Capital Region, and a handful of upstate cities, many communities …

Construction has begun at 51-02 Roosevelt Ave., a 19-story condominium rising at the border of Sunnyside. The development is led by Hiwin Group USA, whose previous work includes 300 W. 30th St. in Chelsea, a 16-story, 69-residence condo project that sold out in nine months. Scheduled for delivery in 2029, 51-02 Roosevelt Ave. represents a …

United American Land, together with partners The Jackson Group and Dreamscape Retail & Entertainment, has unveiled plans for BKX, a redevelopment of the former Macy’s building at 422 Fulton St. in Brooklyn into one of New York City’s largest and most ambitious retail developments. Spanning approximately 440,000 square feet across five levels, BKX will represent …

The New York Tri-State region saw film spending increase 21% year-over-year in 2025, with prominent production companies anchoring new large-scale developments and positioning the area for sustained growth, CBRE said in its 2026 Tri-State Film & Television report “The region is emerging as a clear leader with a new wave of major studio investment and …

The congestion pricing program currently in effect in Manhattan is not only reducing traffic jams inside the Congestion Relief Zone (CRZ) but outside it as well, the Regional Plan Association (RPA) reported. With the Central Business District Tolling Program (CBDTP) implemented in January, the Bronx is seeing a 10% reduction in traffic delays, while 12 …

SCALE Lending, the debt financing arm of Slate Property Group, has issued a $45-million senior-secured construction loan for a new multifamily project located at 264-272 W. 135th St. in Harlem. The sponsor, Mass Development, will use loan proceeds for the ground-up development of an 11-story residential condominium building. Arrow Real Estate Advisors’ Brandon Serota & Will Farrell represented …

Net lease real estate advisory and investment platform SURMOUNT has completed a $13-million sale of a Chase Bank branch located at 1295 Madison Ave. in the Carnegie Hill neighborhood of Manhattan’s Upper East Side. The firm represented both buyer and seller. The 3,000-square-foot ground-floor bank branch traded at a 4.74% cap rate, or $4,300 per …