Globest Sectors

Prana Investments purchased the 252-unit multifamily complex in the Concourse section of the Bronx.

The Reserves at 700 is located in an area where property fundamentals and economic conditions continue to improve, which will have a positive impact on the property's performance in the near term.

Castle Lanterra Properties renovated Asher, which resulted in meaningful rent premiums, provided proof of concept and substantial upside potential for the new owner at a purchase price of $70 million.

Apartment rents increased .06% year-over-year in June and were flat month-over-month.

An affiliate of Mosaic Real Estate Investors provided BPM Real Estate Group with $460 million in senior construction financing for a 1-million-square-foot mixed-use development in downtown.

BLVD Gramercy East and BLVD Flats will open in Spring 2020.

"Given the current evolution, shopping malls are going to look different over the next 20 years – likely with smaller anchor stores, more entertainment concepts and restaurants, more experiences for shoppers, and daily service providers such as gyms, grocers, medical offices and even day care providers."

Secretary of Health Dr. Rachel Levine announced the agreement late last week. The temporary manager, Pinnacle Healthcare Consulting, will remain in place until the department determines it is no longer necessary.