The market is seeing particularly high demand for multifamily housing that has access to lifestyle amenities and restaurants.

Nick Karafotias is joining JLL as vice president of restructuring, reflecting the firm's commitment to growing its retail advisory services platform.

“The majority of property owners believe we are in the last stages of the current real estate cycle,” says Boulder Group's Randy Blankstein.

The Long Island-based real estate firm acquired the 16,348 square-foot building for $7 million.