A joint venture between PGIM Real Estate Fund and Fetner Properties acquires The Arbor, a 127-unit housing community in the Bronx, for $73.5 million.
PGIM Real Estate Fund, in a joint venture with Fetner Properties, has acquired The Arbor, a 127-unit residential property located at 3260 Henry Hudson Pkwy. in the Riverdale neighborhood of the Bronx. The transaction, valued at a gross capitalization of $73.5 million, was completed via a sale-leaseback agreement with Columbia University, which utilizes the property for student and faculty housing.
Following the acquisition, the new ownership plans to initiate a value-add capital improvement program. Re-leasing of the apartments is scheduled to commence in July 2026 and will be executed in two distinct phases.
A housing lottery has opened for the 2334-2336 Valentine Avenue multifamily development in the Fordham neighborhood of The Bronx.
The US government secures a court order to forfeit a $6 million luxury condo in Manhattan's Flatiron district linked to the 1MDB fraud case.
Mayor Zohran Mamdani’s housing plan aims to create 400,000 units, but critics argue existing policies and labor requirements under the 485x tax program hinder necessary capital improvements and new production.
WellLife Network files plans for a 165-unit, 105,697-square-foot residential building at 129 Osborn Street in Brooklyn.
Permits have been filed for a residential project at 33-28 148th Street in Flushing, Queens.
A housing lottery has launched for HELP Hinsdale C, a new residential building located at 314 Hinsdale Street in East New York, Brooklyn.
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