Justin Lew的动态

Over half a million apartments are slated to complete construction this year, up 9% from 2023 and 30% from 2022. As highlighted by GlobeSt.com, over 60% of this new supply is concentrated in just 20 metros with the total number of apartments being added enough to roughly house the entire population of Atlanta. Of the metropolitan areas set to receive a majority of the new inventory - Arizona, New York, and Texas are notable standouts. The Mogharebi Group recognizes the potential for opportunity in these growing #multifamily markets, with a particular interest in #Phoenix. https://lnkd.in/gk3MXUFD

Over half a million apartments are slated to complete construction this year, up 9% from 2023 and 30% from 2022. As highlighted by GlobeSt.com, over 60% of this new supply is concentrated in just 20 metros with the total number of apartments being added enough to roughly house the entire population of Atlanta. Of the metropolitan areas set to receive a majority of the new inventory - Arizona, New York, and Texas are notable standouts. The Mogharebi Group recognizes the potential for opportunity in these growing #multifamily markets, with a particular interest in #Phoenix.

The new development at 1848 Vyse Avenue in the South Bronx marks a significant addition to the area, especially given the rarity of large residential projects in recent months. Spearheaded by Dunn Development, this 11-story building will cover approximately 90,000 square feet and feature 120 residential units, with a portion designated for low-income housing. The project, confirmed as a rental development, also includes a parking garage and highlights Dunn Development's commitment to affordable housing, evident in their past projects like the Bergen Saratoga Apartments and Frost Street Apartments. The development, located just below the Cross Bronx Expressway near East 176th Street, is near another Dunn project, Via Vyse, at 1812 Vyse Avenue—a supportive and affordable housing project itself. Despite the proximity and simultaneous purchase of the properties in 2016 for about $7.1 million, the connection between Via Vyse and the new development remains unspecified. This initiative emerges as one of the very few projects exceeding 100 units filed in the city lately, with only three others noted in March—all in Brooklyn. The recent state budget's provisions, including a new affordable housing tax break and incentives for office-to-residential conversions, may further encourage these developments. This project also raises questions about the need for a balance between rental opportunities and affordable homeownership particularly in the Bronx, which could provide long-term economic benefits and stability not typically afforded by rental solutions. #SouthBronxDevelopment #AffordableHousing #DunnDevelopment #NewYorkRealEstate #UrbanDevelopment https://lnkd.in/ejiRqe2T

Jersey City Development Sells for the Second Time, Heads Towards Groundbreaking The New Jersey office of IPRG, led by partner Yanni Marmarou, has announced the sale of a 200-unit development site located at the corner of West Side Avenue and Fisk Streets. The $9.35 million deal represents IPRG’s second sale of the subject property within a span of 24 months, as it previously changed hands for $6.2 million in January of 2022. 200 dwelling units are included in the development, set to break down as 41 studios, 119 one-bedrooms, 32 two-bedroom units, and eight three-bedroom spaces. The project will be utilizing an affordable housing overlay bonus within the West Side Avenue Redevelopment Plan, which requires 20 units to be set aside at the complex for those with modest incomes. Parking for 100 cars in a garage is included, as is a bicycle room with space for 81 bikes. The project will also be providing a stormwater detention tank as well as an extensive green roof area of approximately 4,298 square feet on the top of the historic building. The future redevelopment of the West Side Avenue site adds to the momentum from other multifamily projects that have popped up in the neighborhood. Major developments including The Birch House, The Agnes, and 3 Acres have opened in recent years, while other long-term projects like Bayfront look to transform the area. #jerseycityrealestate #westsideavenue #redevelopmentplan

Just Listed: Allapattah Covered Land Assemblage | 81,750 SF | $109 PSF INVESTMENT HIGHLIGHTS *Covered Land Play: All Short-term leases with 3 out of 4 tenants having a 6-month termination clause, allowing a developer the opportunity to plan a project without incurring operating expenses or an owner/user to operate their business from this location. *Centrally Located: Less than ? mile from the 112 Expressway which provides easy connectivity to Wynwood, Medical District, Miami River, Downtown, Brickell & Miami Beach. 1.5 miles from Miami International Airport. *Block to Block: Subject property consists of Six parcels totaling 1.87 Acres (81,750 SF) and 25,675 SF of Gross Leasable Area. The property is comprised of two different zonings, Mixed-Use and Light Industrial. 40,500 square feet are zoned T6-8-O while 41,250 square feet are zoned IU-1. *Favorable Zoning: The property can accommodate development of 139 Multifamily units among other uses such as Industrial, Retail, Multifamily, Self-Storage & Office. *Lot Dimensions: 300 feet of frontage along NW 36th Street | 272.5 feet of Depth | 27,000 vehicles per day. *Allapattah is one of Miami’s fastest growing neighborhoods; 1,250 units projected to be delivered within the next 5 years. Population exceeding 241,050 within a 3-mile Radius.

Columbia Ventures is planning a major development in Blandtown with 845 residential units at 1521 Huber Street. The proposal includes two seven-story buildings, with 245 units designated as affordable housing. The 9-acre site will feature mixed residential and commercial use, pending city rezoning approval. #katiesellsatlanta #blandtown #atlantadevelopment #whatnowatlanta #atlantarealestate #newconstruction

In this article, John Massengale has cristalized the thoughts that we are all thinking but don’t have the time to articulate the way John did. Excellent thoughts!

According to CoStar, Martin Building Company, a San Francisco developer has proposed a significant apartment project at 1101 Sutter St, planning to build 303 units in downtown San Francisco. This proposal is notable for an area facing severe land constraints and rent control restrictions. Over the past decade, only 110 units have been completed in downtown San Francisco, making this one of the largest housing projects proposed in years. The new project aims to replace a century-old funeral home with a 400,000-square-foot apartment building, leveraging density bonus laws to increase its size from an initially proposed 221 units in 2022. The project includes 38 affordable units. Downtown San Francisco's vacancy rate has decreased to 6%, and with resumed population growth, demand for new or higher-end apartment buildings is high. The city is also working towards meeting a state-mandated goal of building 80,000 homes by 2031. Read More: https://bit.ly/4aKWZLp #MarketRent #SanFrancisco #RealEstate #UrbanDevelopment #AffordableHousing #UrbanLiving #SFRealEstate

According to The Wall Street Journal and CoStar Group Inc., vacancy rates in apartment buildings are declining, signaling a positive trend for multifamily housing. This shift highlights not only a strong desire for flexible living options but also the resilience of multifamily developments in today’s ever-changing market. TCG takes pride in its extensive portfolio of quality rental properties. In the evolving landscape of construction and development, TCG responds to demand by concentrating on efficient project timelines, improving building quality, and incorporating amenities that resonate with tenant priorities. A well-occupied building represents more than just success; it reflects thoughtful design, a strategic location, and a deep understanding of community needs. Excited to see where this trend takes us and how we can continue to contribute to vibrant, sustainable urban living spaces! #BUILDWITHCONFIDENCE?#MultifamilyHousing #RealEstate #PropertyManagement #UrbanLiving #BuildingCommunity #TCGreen #Philadelphia https://lnkd.in/e9hMMzZh ?

Price Reduction!?Exclusive Multifamily Investment Opportunity: SKLAR LOFTS in Jersey City! Sklar Lofts at 409 Ocean Ave, Jersey City, NJ, is now available for $4,400,000. This fully renovated mixed-use building offers immediate cash flow and potential for increased rents. Investment Highlights: - Turn-Key Renovation: Newly renovated 16-apartment mixed-use building with 1,400 SF of retail on the ground floor. No renovation costs needed. - Unit Mix: Mostly 2-bedroom apartments. - Location: Walking distance to Richard Street Light Rail Station, Bayside Park, and more. - Upside Potential: Residential rents are ~20% below market, providing significant growth potential. - Vacancy Advantage: 3 of the 16 residential units are vacant, allowing immediate rent increases to market levels. Financials: - Asking Price: $4,400,000 - Current Cap Rate: 6.55% - Pro Forma Cap Rate: 8.05% - Gross SF: 13,788 SF - Lot Size: 0.15 Acres For more information, please contact: Chez Eider Office:?201.742.6177?| [email protected] or Jonathan Zamora Office: 201.742.6121 | [email protected] #RealEstate #InvestmentOpportunity #JerseyCity #HudsonCounty #NorthernJersey #MultifamilyInvestment #CommercialRealEstate #CRE #RealEstateInvesting #PropertyForSale #InvestmentProperty #RealEstateDeals #UrbanLiving #MarketPotential #InvestmentOpportunity #TurnKeyInvestment #BuilderToBroker #ExclusiveListing