Northeast

Built, a construction finance technology platform, is taking aim at the pain points in construction lending, continually adding features to help streamline the process. To accomplish this goal the firm has brought on commercial lender executive Jim Fraser to help with the task.

The Murphy Administration reported that it will spend $60 million on affordable housing initiatives across the state in its Fiscal Year 2020 budget. The funding had been diverted in previous years.

Madison International Realty, a New York-headquartered real estate private equity firm, has entered a partnership agreement with Principles of Responsible Investment, a United Nations-supported organization focused on environmental, social and governance considerations in financial investments.

Broad Street Development, a New York-based multifamily developer, investor and operator, in a joint venture with Crow Holdings Capital, a private real estate fund, has landed a $68.5 million loan from MetLife Investment Management to refinance a 96-unit, residential mixed-use at 298 Mulberry St.

SL Green Realty Corp., a New York-based office real estate investment trust, has sold 315 West 33rd St., an undeveloped parcel of land with a gross valuation of $446.5 million, or approximately $906 per square foot, to an affiliate of Brookfield Asset Management.

Bond, a property technology firm that focuses on last-mile delivery, is taking a page out of the book of co-working firm WeWork. The New York City-based start-up scouts out underutilized commercial space in dense city areas to establish "tiny warehouses" for last-mile delivery and is plotting an expansion in New York and two Northeast cities.