Nightingale Properties and Wafra Capital Partners have secured a $145 million fixed-rate loan from SL Green and an undisclosed party for the acquisition to acquire 111 Wall St. in Downtown Manhattan.

Aside from sweeping rent regulation changes this past June. Another seismic change with respect to residential rental laws and regulation rules could well be on the way: "Good cause eviction."

The acquisition will add restaurant and retail petroleum specialty asset classes to Newmark's valuation and advisory practice.

The Altman Family, who disposed of the real estate from its portfolio, had a 75,000-square-foot warehouse on the land. B6 Real Estate Advisors and Cushman & Wakefield represented on behalf of the seller.

"We don't see a big economic downturn in 2020. The CRE market will hold its own," says Mitti Liebersohn, president and managing director of New York operations at Avison Young.

The $71.28 million permanent FHA financing enables the borrower to exit an initial bridge loan used for the purchase in November 2017 and to continue with large scale renovations.

The firm's emphasis on relationship development and network of repeat borrowers bolsters its execution of the national transactions—which accounted for more than half of total dollar volume in 2019.

Whether a renter is considered a Baby Boomer, Millennial and Gen Zer, the common denominator is the desire to have inexpensive and flexible living accommodations within short distances to resources and transportation.