Cross River Bank Commercial Lending & SBA Loans’ Post

Newmark Co-Heads of US Capital Markets Adam Spies and Doug Harmon brokered a $58M land transaction between Related Companies (buyer) and Veris Residential (seller). Related's newly acquired Hudson River waterfront site (Harborside 4) will be developed into an 800K SF luxury multifamily building. This is Related's first multifamily building in New Jersey, adding to its existing multifamily portfolio in New York, Boston, Chicago and Los Angeles. Read the full Commercial Observer article to learn more. #InvestmentSales #CRE #MultifamilyDevelopment #RealEstateDevelopment #NewJerseyMultifamily

18-story apartment building proposed for 18th Street North in downtown St. Pete https://lnkd.in/gp52p_pU Downtown St. Petersburg's multifamily market faces challenges with rising vacancies. As of Q4 2023, CoStar data shows that vacancy rates have climbed to 6.3%, up 150 basis points from the previous year. This increase is primarily due to new construction outpacing tenant demand, with 580 new units delivered and only 440 units absorbed. While this is higher than the mid-2021 low of 3.6%, it's still below pre-pandemic levels of 8% to 10%. Looking ahead, CoStar forecasts that vacancy is expected to rise further with 1,300 new units in the pipeline. #StPetersburgRealEstate #MultifamilyMarket #multifamily #passiveincome #realestate #cashflow #financialfreedom #financialindependence #realestateinvesting #reignitecapital #igniteyourfi #intentionandfocus #expcommercial

Value-add Multifamily: 12 Units Available for Sale in West Midtown, Atlanta for Just $1,200,000 Terrace Apartments is a value-add, 12-unit apartment community located in West Midtown, Atlanta. The units are all 2 bedroom/1 bath and are all fully electric with dishwashers and have washer and dryer connections. Located in a Qualified Opportunity Zone, this property has a strong occupancy rate of 92%. The community is just a 10-minute drive to I-85, Georgia Tech, Mercedes-Benz Stadium, and many other Atlanta attractions. West Midtown is an evolving neighborhood that is only a short drive to Downtown Atlanta, Midtown, Atlantic Station and only a 20-minute drive to Buckhead. Microsoft just announced the purchase of the Quarry Yards, located less than a mile away, a 70-acre development site that is being proposed for affordable housing and office space. The Quarry Yards is located adjacent to the new Westside Park, a 300-acre park. DM us to learn more about this exciting investment opportunity or schedule an appointment now: https://lnkd.in/dJRGWG9m #atlantainvestment #multifamilyforsale #valueaddproperty #investmentopportunity #hollyvaleterraceapartments #atlantarealestate #opportunityzone #propertyinvestment #atlantaliving #investmentpotential #realestate

Value-add Multifamily: 12 Units Available for Sale in West Midtown, Atlanta for Just $1,200,000 Terrace Apartments is a value-add, 12-unit apartment community located in West Midtown, Atlanta. The units are all 2 bedroom/1 bath and are all fully electric with dishwashers and have washer and dryer connections. Located in a Qualified Opportunity Zone, this property has a strong occupancy rate of 92%. The community is just a 10-minute drive to I-85, Georgia Tech, Mercedes-Benz Stadium, and many other Atlanta attractions. West Midtown is an evolving neighborhood that is only a short drive to Downtown Atlanta, Midtown, Atlantic Station and only a 20-minute drive to Buckhead. Microsoft just announced the purchase of the Quarry Yards, located less than a mile away, a 70-acre development site that is being proposed for affordable housing and office space. The Quarry Yards is located adjacent to the new Westside Park, a 300-acre park. DM us to learn more about this exciting investment opportunity or schedule an appointment now: https://lnkd.in/g7NsFfGX #atlantainvestment #multifamilyforsale #valueaddproperty #investmentopportunity #hollyvaleterraceapartments #atlantarealestate #opportunityzone #propertyinvestment #atlantaliving #investmentpotential #realestate

"A few other neighborhoods nationwide have also seen multifamily supplies increase by at least 10,000 units. About 13,500 units are rising in Phoenix’s Avondale/Goodyear/West Glendale area, adding 58% to the area’s current 23,500 units. The Allen/McKinney area in Dallas and Central Nashville are also seeing rapid growth of their current inventories. Respectable growth of over 8,000 units each is also occurring in City Center Philadelphia, downtown Miami/South Beach, Dallas’ Frisco neighborhood and Southwest Charlotte, NC. While these examples stand out, they are far from the only neighborhoods seeing new apartment construction. “Only about 13% of the 750+ submarkets across the nation’s 50 largest submarkets had no construction underway as of 3rd quarter, equating to about 100 submarkets,” the report noted."

Explore a prime investment opportunity at 5817 NW 30th Ave, Central Miami, FL 🌟 This vacant single-family home, ripe for renovation, features a 2-bed, 1-bath layout spanning 1,092 sqft on an 8,640 sqft lot. 🏡 Zoned for duplex development, it's perfect for developers entering Miami's real estate market. 💼 With the potential for a multifamily unit in a thriving rental market averaging $3,500/month, the investment potential is clear. 💰 Homes in the area fetch up to $850,000, with land valued at $60/sqft. 📈 Seize the opportunity to capitalize on the area's growth and the property's development potential. 🌆 Should you have any inquiries or require additional details, please don´t hesitate to reach out. 📩 #MiamiRealEstate #Investment #RealEstate #InvestmentOpportunity #miamiproperty🏝️

Check out the incredible before-and-after kitchen transformation of our recent project – a 1972, 36-unit multifamily gem in Greenville, SC. Our aim is to optimize returns for investors while enhancing the quality of life for tenants, all without jeopardizing their ability to afford their homes. Learn more about our strategy:  https://lnkd.in/gMFGmAFP #renovation #transformation #investmentproperty #multifamilyinvesting

Look out, real estate world - Q1 2024 just changed the game! Apartment demand skyrocketed, doubling from a mere 49,000 to a whopping 103,800 units. We're not just exceeding typical pre-pandemic Q1 demand, we're smashing historical averages of 52,231 units out of the park. Source https://lnkd.in/gPTMjY8B But the good news doesn't stop there. We've been riding this wave of consistent positive demand for five straight quarters. The construction industry is responding in kind, hitting a record high Q1 construction completion with 135,600 units. Cities in sharp focus? Seattle, Dallas, Austin, and Las Vegas. These housing markets are experiencing the real estate equivalent of a gold rush. On the other hand, New York, Newark, and Los Angeles are cooling down a bit with a noticeable decrease in demand. And the cherry on top? Our annual absorption just soared past 317,000 units, another undeniable sign of the robust state of the apartment market.

OLSEN ANDERSON Ground Breaking: Upon completion, 62nd St Townhomes will be a premier townhome community in the Ballard neighborhood of Seattle, WA. The community provides homes ranging from 1,572 SF with 3 beds and 1.75 baths up to 1,762 SF with 4 beds and 2.25 baths. All homes feature rooftop decks, garages, or surface stall parking, and the front four homes feature ground-floor patios. The property is conveniently located within walking distance to restaurants, bars, entertainment in downtown Ballard, and public transit and arterials that provide connectivity to downtown Seattle. OLSEN ANDERSON is on a mission to address the housing availability crisis through strategic partnerships and innovative delivery methods. We commit to sustainable building practices and creating cutting-edge designs that are both aesthetically pleasing and functional, enhancing quality of life and fostering strong communities. Land Owners: If you're interested in selling or redeveloping your property to a mission-driven developer and homebuilder, DM me. Brokers: DM me to increase your clients' options and learn about pre-sale opportunities before they hit the market. Buyers: If you're interested in joining the Olsen Anderson community, DM me. Investors: If you're interested in diversifying your portfolio and backing a mission-driven real estate developer and homebuilder with a proven track record, DM me. Learn more about us here: www.olsenanderson.com #olsenanderson #OAC #newconstruction #seattle #realestate #urbanliving #sustainablybuilt #communitydriven

How will apartment supply and demand balance out this year? According to RealPage, Dallas will lead the way in supply with 38,000 units expected to be delivered. With 33,362 apartments underway, Phoenix will follow in second place with over 4,600 fewer units. Austin will round out the top three with 32,319 units. The same three markets lead projected demand for the year. RealPage projects that Dallas and Austin will absorb fewer apartments than will be delivered, while Austin’s demand outstrips supply by almost 1,200 units. Read more here: https://bit.ly/3VQ5BN9 #Capstone #LandSales #CRE #Multifamily