News

Infinity Real Estate landed a $20.5 million floating-rate loan for the acquisition of the Shops at Richmond Avenue.

The recent transactions in New Jersey include space at the Morris Hills Shopping Center, 3035 US 46 in Parsippany (5,100 square feet) and Woodbridge Crossing, 465 Greene St. in Woodbridge (5,642 square feet).

The Elizabeth General Hospital was shuttered more than two decades ago. The mixed-use project at 901 E. Jersey St. will be developed on a 5.41-acre site.

Midtown East has undergone a period of changes since its rezoning in 2017. The change that is happening has spiked real estate values, for instance, 242 East 58th St. in the Midtown East submarket has recently changed hands, selling for $11.5 million, $500,000 higher than the original asking price.

Benenson Capital Partners and Mack Real Estate have secured an $81 million refinancing for the construction loan on 433 East 13th St. in the East Village, a mixed-use property dubbed the "Eve".

Colliers reports that the new owner has reconceived the vacant box as a mix of large floor plate opportunities, new exterior facing small retail and/or restaurant tenants along with several new outparcels offering the potential to court statement restaurant operators to the mall complex.