Multifamily

In March, as the coronavirus pandemic was taking hold on the nation, foreclosure rates were dropping to the lowest levels since the recession.

Despite challenges, there are opportunities facing economic subsectors and the market as a whole along with factors that will determine the severity of the pandemic's impact on the multifamily sector.

PRC Group is developing two residential buildings, University Place Apartments and the Carbon Place Apartments, along with the connected retail space.

For the most part, landlords had little problem collecting April rents but the situation is changing for renters as the economy staggers under Covid-19.

Frazier and Merck made news yesterday when in announcing its first quarter financial results, the pharmaceutical firm announced its intent to consolidate its New Jersey campuses into a single New Jersey headquarters location in Rahway by the end of 2023.

David Linn with the White Plains-based The Galinn Fund LLC has sold the parcels at 251 Douglass St. to New York City-based Tavros Capital Partners and the Charney Companies of Long Island City.

RENTCafe found renters do not intend to postpone their moving plans despite the coronavirus, with 62% saying they are moving as soon as they find an apartment.

In these unprecedented times, both Freddie Mac and Fannie Mae have been an unwavering source of capital, and are still actively lending and closing on transactions at aggressive rates below 3%.