RedSky buys Williamsburg development site from Thor, lands $222M refi of neighborhood portfolio

As Williamsburg braces itself for the 15-month L train shutdown, Brooklyn’s RedSky Capital is expanding its portfolio in the heart of the neighborhood. The Dumbo-based firm paid $32.25 million to buy a four-parcel development site at the corner of North 6th and Berry streets from Thor Equities, sources familiar with the sale told The Real[…]

Consider the yurt: Sam Zell’s outdoor home rental business luring investors

Sam Zell may be known for high-end apartments and skyscraper office spaces, but his outdoor rental business, which includes yurts, has been outperforming them both. Stock for Chicago-based Equity Lifestyle Properties, Zell’s real estate investment trust for RV parks, mobile and manufactured multifamily homes, hit $95 this month. That’s a fatter investment return than Zell’s[…]

Long Island Cheat Sheet: Home prices in Suffolk and Nassau counties inched up in July … & more

Home prices in Suffolk and Nassau counties tick upward in July, MLS report finds Nassau County’s median home prices increased annually by 3.8 percent up to $540,000 last month, according to the Multiple Listing Service of Long Island. Suffolk saw similar gains, up 6.8 percent to a median price of $390,000. Compared to 2008 when[…]

Nonprofit, Northwell Health get $246M loan for Upper East Side assemblage

The University Financing Foundation and Northwell Health have received a $246 million acquisition loan for their purchase of six vacant Upper East Side buildings. The loan comes from CGA Mortgage Capital, according to Commercial Observer. The Maryland-based company previously loaned Muss Development $198 million for Brooklyn Renaissance Plaza on Jay Street. TUFF, a nonprofit, purchased[…]