Apartment Look

Finance & Accounting By REW •   April 26, 2017 Eastern Union Funding arranged the following transactions: A $36.9 million first lien mortgage for the acquisition of an 11- building multifamily portfolio in Bronx, NY. This transaction was arranged by Jonathan Singer and David Metzger. A $10,500,000 first lien mortgage for the acquisition of a 197- unit multifamily in Pennsville, NJ. This transaction was arranged by David Singer. A $5,000,000 first lien mortgage for the refinance of a 61- unit multifamily on 40th St. in Sunnyside, NY. This transaction was arranged by Michael Muller. A $2,200,000 first lien mortgage for the acquisition of a 6, 800 sf industrial property on Route 114 in East Hampton, NY. This transaction was arranged by Marc Tropp. A $1,450,000 first lien mortgage for the refinance of a 3- unit multifamily on South Lakeshore Dr . in Browns Mills, NJ. This transaction was arranged by Jeffrey Seidenfeld and Jonathan Singer. ••• Meridian Capital announced t...

Massachusetts firm pays $56M for Jupiter apartment complexes Mallards Cove and Shell Trace Apartments sold for about $156,000 per unit By Amanda Rabines | August 15, 2017 12:00PM Mallards Cove Apartments Inset : Lawrence R. Gottesdiener CEO Northland Investment Big ticket multifamily complexes keep trading in South Florida. Newton, Massachusetts- based Northland Investment Corp . just bought two sister rental communities in Jupiter for $56 million, property records show . The real estate investment firm financed the deal with a $46.4 million mortgage from CBRE Capital Markets . Records show the mortgage is a Freddie Mac loan . The communities are called Mallards Cove and Shell Trace Apartments . The properties, located at 6705 Mallards Cove Road , stretch nearly 31 acres and offer about 359 units, meaning the trade breaks down to about $156,000 per unit. The seller is linked to Rhode Island- based Preston Giuliano Capital Partners . Records show the company is led by Michael Giul...

Gebroe-Hammer Associates Coveted apartment  complex fetches $40M An apartment community in tony West Orange , NJ,  has been sold for $40.5 million. Gebroe- Hammer Associates brokered the sale of the 178- unit Crest Ridge Apartments complex . The team of Greg Pine and Adam Zweibel exclusively represented the original developer , Rockledge Realty, LLC, and procured the buyer, Sela Realty Investments , in the transaction. Located at 200 Mt. Pleasant Ave. at the base of an 80 ft. cliff, the 16-building, historically well- occupied complex posed an extremely rare acquisition opportunity within the Northern New Jersey metro. “Situated in the Town Center section of West Orange, Crest Ridge Apartments is at the heart of one of the most expensive, in- demand local neighborhoods as well as the transit- filled greater West Essex County submarket ,” said Pine. “In a township where apartment rentals make up only about one-third of the housing stock, Crest Ridge Apartments is a gem favored...

By Daniel Barnett OVERLAND PARK, KS — Authorities are searching for what caused a fire at an apartment complex that took the life of two young children early Tuesday morning . Fire crews were called at about 2:30 a.m. to the Colonial Gardens Apartments , located in the 8800 block of Broadmoor Court. While on the way to the scene, units received reports of victims trapped in the complex and immediately called for a second alarm. Firefighters say a family was on the bottom floor of the apartment complex when the fire started. They say an infant and a seven-year-old were able to make it out but a three-year-old and a five-year-old were killed in the flames. The mother of the children was taken to an area hospital with minor burns. The children's father was seen walking around the area, distraught over the loss of his children. Two men were also badly burned and had to jump from a second story unit to escape the flames. They were taken to an area hospital to treat their burns and the...

Funny how your tastes change. There once was a time – back when Coolio actually was cool – when I desperately wanted to live in a town with an Applebee’s . I now reside in a metro area with five, and I’m more concerned that a hole-in-the-wall joint like Silla Cafe is closing. The Broad Street eatery , whose teriyaki chicken has been beloved by downtown denizens for more than two decades, is calling it quits next month. Owned and operated by Felton and Tae Mitchell , the literal “mom-and-pop” restaurant serves its last dish at 855 Broad St. on Sept. 14. “We had fun, but we’re ready to retire now,” Tae said. “We’ve been talking about retiring for a couple years now.” She said that decision to retire was hastened, however, by a steep increase in their rent. “It’s almost double,” she said in a phone interview. Last year the building was purchased by Rafik “Rafi” Bassali , a young real estate investor who is becoming somewhat of a downtown property mogul . The owner of The Swank Company...