Setting a new benchmark in the Bayonne area, Capital Realty arranged the sale of 919 apartment units for an out-of-state seller for $130 million.
The director of research, New York at JLL, says L&L and Normandy’s acquisition reflects the insatiable demand for this type of product in Midtown South.
The decision by the arbitrator would raise the current rent of more than $16 million to $30 million in the 10-year lease deal.
Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!
- Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
- Exclusive discounts on ALM and GlobeSt events.
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.
Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.