News

Rockport Mortgage Corporation has closed an FHA Section 223(f) refinancing loan of $38.6 million for Union Street Houses in Brooklyn. Scott Jaffee, a managing member of Metropolitan Realty Group, owns the property.

The moratorium was imposed on Wednesday and is in effect until further notice. The action by Cambridge comes a day after Boston Mayor Martin Walsh instituted a construction ban in the City of Boston. To date, Massachusetts Gov. Charlie Baker has not called for a construction work stoppage statewide.

The deals were announced on Wednesday by the three major automakers. Following Thursday evening shifts, Ford is temporarily suspending production at its manufacturing sites in North America to March 30 to thoroughly clean its facilities to protect its workforce and boost containment efforts for the COVID-19 coronavirus.

Harlem has always had a smaller sample size of office product relative to the rest of the city. But that hasn't stopped developers from building in the submarket and convincing investors to wrap their heads around smaller office floor sizes, Brent Glodowski, director at Avison Young, tells GlobeSt.com.

The 278,879-square-foot portfolio represents one the largest single sales of mixed-use properties along on the New Jersey waterfront, according to Newmark Knight Frank.'

Allegiance Retail Services, a current subtenant, signed a direct long-term lease for 18,928 square-feet at the property. In addition, Office Evolution, an existing tenant, signed a long-term lease extension and expanded its total square footage to 14,500 square-feet.