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Greystone, a national commercial real estate lender and investment advisory firm, has provided approximately $105 million in HUD-insured financing for the preservation of two New York City affordable housing developments.
Investors have stars in their eyes when it comes to seniors and transit-oriented housing because demand has outpaced supply for both asset types in core urban markets.
Cross Roads Plaza is anchored by a 70,818-square-foot ShopRite, which makes-up 71% of the property's gross leasing area and 58% of the gross income. The grocer's lease term runs through 2024.
The adoption of 5G in the commercial real estate sector has proved more challenging than expected for developers, landlords and building owners constructing or enhancing the digital infrastructures of their properties.
NAP, a member of the Hilb Group, will occupy 6,600 square feet of the fourth floor at Northpoint at 20 Waterview, where Vision recently completed a multi-million-dollar capital improvement program that included a redesign of the building's lobby, amenities and common areas.
"I think in the first half of the year capital will rush to put money to work ahead of the election and before the Fed changes its mind on interest rates."
When combined with its existing space at the adjacent 1330 Frank Sinatra North, the expansion deal nearly doubles the child care center's operations within The Shipyard mixed-use residential and retail development.