City Opens Housing Lottery for 227 South Bronx Apartments
New York City has launched a housing lottery for 227 units at One River Park, a major two-tower development under construction alongside the Harlem River in the South Bronx. The lottery, which ends September 24, is open to people earning between 70% and 130% of the area median income (AMI), according to the city’s Housing Connect portal. Available apartments include 29 studios, 154 one-bedroom units, and 44 two-bedroom units, with rents ranging between $1,936 and $2,850 per month.
Located at 355 Exterior St., One River Park is being developed by Beitel Group, which started construction on the project last December. The Hill West Architects-designed property rises 40 and 26 floors will offer more than 700 apartments overall, together with an array of amenities including a lobby lounge, sky lobby, fitness center, pet spa, yoga studio, indoor pickleball court, and outdoor pool. Construction is supported by the city’s now-expired 421a property tax exemption program, which requires a percentage of units to be designated as affordable.
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Lewis Group Opens Second NorCal Rental-Home Community in West Sacramento
Independence in West Sacramento, a new gated community of 208 townhome-style rental homes developed by Lewis Apartments, opened its leasing office and model homes to the public on Saturday, Oct. 24. Located in West Sacramento’s Southport/Bridgeway Island area, Independence introduces rental homes designed for residents who want the space and privacy of a single-family home...
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CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
CBRE announced the sale of a 4.66-acre parcel at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, Wisconsin. Louisville, Kentucky-based Trilogy Real Estate Fitchburg LLC purchased the property from Fairchild Development LLC for $2.23 million, marking the company’s third location in the Madison market and expanding its footprint beyond its...
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Northmarq Arranges $96M Refi on SoCal Apartment Portfolio
Northmarq has arranged $95.8 million in refinancing for a six-property, 1,461-unit multifamily portfolio owned and operated by E&S Ring across Los Angeles and San Bernardino Counties. The financing was arranged through Voya Investment Management by Northmarq’s San Francisco Debt + Equity team, led by managing director Nathan Prouty, SVP Andrew Slaton and senior investment anaylst...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout