Multifamily

The Pilsen Gateway project is located in a Qualified Opportunity Zone near the city's Medical District. It is being developed on a 1.24-acre site at 1461 S. Blue Island that is bounded by S. Racine Avenue, S. Blue Island Ave. and 15th St.

Long Island City was marked X on the treasure map. Then Amazon pulled out, leaving the CRE industry to wonder what's next? Short answer: Big corporate leases and an $880 million recapitalization at One Court Square.

In New Jersey, the arranged sales involving 3,683 units with a sales value in excess of $606.8 million in 2019. In the Greater Philadelphia metro region, Gebroe-Hammer Associates orchestrated more than $455 million in sales totaling more than 4,265 units last year.

Newmark Knight Frank Multifamily reports it arranged more than $61 million in financing in connection with the purchase of the property that was completed in 2000 and is located adjacent to Route 59 Metro Station.

While capital likes multifamily and industrial, most CRE sectors, even retail, have a positive story.

With a presidential election coming in November, apartment owners looking to sell will likely come to market early in the year.