Delshah Capital closes on 28-property portfolio for $102M

Delshah Capital has closed on its acquisition of a Brooklyn-centric 28-property package from Silvershore Properties for $102 million, according to records filed with the city today. The properties included in the deal are 149 Rivington Street and 41 Henry Street in the Lower East Side and 1038 Bedford Avenue, 137 and 148-150 Patchen Avenue, 142 Grove Street, 1446-1452 Myrtle Avenue, 623 Halsey Street,[…]

Riverside Church buys Union Theological Seminary dorm for $47M

A Morningside Heights property that previously looked like it would go to a developer will instead go to a church. Riverside Church has purchased 97-101 Claremont Avenue in Morningside Heights from the Union Theological Seminary for $46.5 million, according to property records. The seminary had been using the property as a dormitory. Craig Nassi of BCN Development[…]

New York’s multifamily market saw more than $2B worth of deals in Q3

New York’s multifamily market continued to rebound from a moribund 2017 with a strong third quarter, seeing year-over-year gains in dollar volume, transaction volume and building volume, according to the latest multifamily report from Ariel Property Advisors. The city saw 115 multifamily deals across 186 buildings worth $2.23 billion overall. This marked a 40 percent[…]

Larry Silverstein’s new debt platform sees a “financing gap” in construction lending

Larry Silverstein’s recently launched debt platform sees a “financing gap” in the construction lending space. The investor and developer earlier this year set up its first lending venture, Silverstein Capital Partners, which is backed by a sovereign wealth fund an a pension fund with “deep pockets.” The platform will focus on shovel-ready, ground up construction[…]