News/Events
Jemals Sell Georgetown Building To Developer Planning Conversion
Douglas sold the mixed-use 2715 M St. building in Georgetown to Adams Investment Group, which is planning to convert the commercial space to residential.
Turner Construction Hit With Cyberattack, Hackers Claim Leaks Of Military Info, NDAs
Turner was hit by a nearly two-week data breach, possibly impacting military files and personal information.
Latest Round Of Fannie Mae Senior Staff Layoffs Has Multifamily Sector Anxious
Fannie Mae cut roughly a dozen senior staff, causing concern among lenders about mortgage market stability.
Banyan Street, Independencia Refi South Florida Office With $54M
Banyan Street Capital and Independencia Asset Management have nabbed $53.5 million to refinance an office complex in Doral, Fla. Wells Fargo provided the financing that backs the 290,000-square-foot Doral Center property. The 10.8-acre campus includes two buildings — one rising six stories and the other seven — at 3750 Northwest 87th Avenue and 8750 Northwest…
Indian Restaurant Samudhra Takes 10K SF at 312 West 43rd Street
New Jersey-based Indian restaurant Samudhra is establishing a presence across the Hudson River in Hell’s Kitchen. The eatery signed a 10,000-square-foot lease on the ground level of the Ellery at 312 West 43rd Street, owned by Taconic Partners and National Real Estate Advisors, for its second location in the U.S. following its first restaurant in…
East Harlem Housing Proposal on City-Owned Lot Expands to 762 Units
An affordable and supportive housing complex slated for a city-owned site in Manhattan’s East Harlem neighborhood just got 62 units larger. The New York City Department of Housing Preservation and Development (HPD) submitted plans on Friday to rezone the city block surrounding 22 East 119th Street. The requested amendments will facilitate a housing project spanning…
Truist Lends $277M on Jersey City Multifamily Tower Build
A joint venture between Rockpoint and Urby has secured $277 million of construction financing to develop the second phase of a multifamily tower in Jersey City, Commercial Observer has learned. Truist provided the loan for the sponsorship’s 748-unit 201 Hudson – by Urby project along the Jersey City waterfront. Rockpoint and Ubry joined forces to…
Mamdani Sets Sights on Fixing — Not Replacing — Deteriorating Section of BQE
Will Mayor Zohran Mamdani be the first administration to finally fix the Brooklyn-Queens Expressway (BQE) along Brooklyn Heights? Mamdani announced Monday morning that the New York City Department of Transportation (DOT) would build bypasses around the surrounding neighborhoods and maintain access to local attractions while finally rebuilding the swiftly deteriorating cantilever portion of the freeway.…
Kinsmen Property Group Plans to Bring 322 New Homes to 156-166 Bowery
Kinsmen Property Group, a New York City-based real estate development and investment firm, has big plans to build 322 homes along the Bowery in Manhattan’s Nolita neighborhood, Commercial Observer has learned. After previously filing plans to demolish a 15,000-square-foot set of vacant buildings at 156-166 Bowery in October 2024, Kinsmen has now filed a land…
