Northeast

The New York City Economic Development Corporation approved $132 million in tax-exempt bonds to expand and modernize Richmond University Medical Center.

The Metropolitan Transit Authority subsidiary adds an additional 17,756 square feet in a 15-year lease with SL Green.

The package comes after Baltimore County agreed last month to provide $78 million in funding for infrastructure work at the 3,250-acre property.

There is a strong demand for workforce housing apartments with the shortage expected to continue in 2019.

Higher mortgage rates, uncertainty about the impact of the new federal tax law and challenged affordability continued (and) will likely continue to play a role suppressing sales levels in 2019,” Douglas Elliman states in the report.

The portfolio consists of 3.3 million rentable square feet in major metropolitan markets across 16 states.

Vector Group subsidiary New Valley acquired a 29.41% minority interest in the brokerage increasing its ownership interest in Douglas Elliman to 100%.

The land is zoned for a wide range of prospective usages including a 10 MW private solar facility and 242 residential units.