In the news
September 07, 2017
Gaia and Acro score $76M to refi new Murray Hill condo conversion
Gaia Real Estate and Acro Group pulled in $76 million to refinance the Vantage, a 97-unit Murray Hill condominium conversion that was recently completed, according to documents filed with the city Thursday. Blackstone Mortgage Trust is the lender on the building at 308 East 38th Street, documents show.
July 19, 2017
CBRE Brokers Sale of Two Multifamily Properties Totaling 512 Units in Metro Houston
HUMBLE, TEXAS — CBRE has arranged the sale of two multifamily properties totaling 512 units in the Houston metro of Humble. The properties are Eagle Crest, a 200-unit community located at 5303 Atascosita Road, and Timberlakes at Atascosita, a 312-unit community located at 18551 Timber Forest Drive.
May 25, 2017
De-luxed: Developers are chasing the lower end of the condo market
New condominiums coming to market are getting cheaper, as developers work to capture buyers in the popular sub-$5 million market. In Manhattan, the average unit price on condos approved for market by the New York Attorney General’s office has been steadily trending down over the past two years. Back in 2015, developers were shooting for an average unit price of just under $5 million, according to The Real Deal’s analysis of accepted offering plans for the borough. In 2016, that average had dropped 24 percent to just below $3.8 million. And it looks like the trend is here to stay. In the first four months of 2017, the analysis showed, the average accepted unit price in the borough was $3.1 million, down 18 percent from 2016’s average accepted price.
May 04, 2017
The Vantage Andres Escobar — a Colombia-born interior design whiz whose work appears all over the city (and the world) — was tapped to handle the architecture and interiors at the recently launched Vantage condominium at 308 E. 38th St. (Technical architecture was handled by Spivak Architects.) The result is sleek.