New York

Madison International entered the Warsaw market last year with the acquisition of a 50% interest in the Warsaw Spire office tower.

RFR Holding and Austrian company Signa Holding GmbH are buying the property for approximately $150 million.

The developers closed on two classic industrial lofts at 42 and 50 Jay St. in DUMBO, Brooklyn to convert them into townhouses, lofts and penthouse units.

The developers received the construction financing from Naftali Credit Partners to build a 74-unit luxury residential project in Forest Hills, Queens.

Most areas of the state have experienced substantial improvement over the past four years. As of mid-2018, only four counties—Clinton, Putnam, Rockland and Suffolk—had foreclosure rates of more than 1%, while 38 counties and three of New York City's five boroughs had rates below 0.50%.

HFF represented the seller and worked with the buyer in the transaction to secure the acquisition financing from New York Life Insurance Co. Loan proceeds were used to acquire the property and provides additional capital for an upcoming building renovation, HFF reports.