Namdar Group grabs additional financing in Jersey City
The Namdar Group will not be deterred from building in Jersey City, or scoring the requisite financing to do so. Joel Namdar’s company secured $180 million in debt from Affinius Capital for its project at 35 Cottage Street in the Journal Square neighborhood, the Commercial Observer reported. The pro
Prana Investments’ NYC multifamily portfolio faces 14 foreclosure lawsuits
Prana Investments‘ bet on rent-stabilized properties in New York City is turning into a disaster. The San Francisco-based firm faces at least 14 foreclosure lawsuits against its 550-unit multifamily portfolio in the Bronx and Upper Manhattan. Three lenders filed lawsuits in New York State courts in
Vacant rent-stabilized apartment rate climbs despite persistent housing shortage
Vacant rent-stabilized apartments in New York City appear to be on the rise, adding another wrinkle to the increasingly contentious debate over the future of the city’s regulated housing stock. About 57,000 rent-stabilized apartments sat vacant last year, representing roughly 5.6 percent of the city
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