Northeast

The real estate company that launched earlier this year is building a 460-unit residential building at 241 W. 28th St.

The Cushman & Wakefield team of Doug Harmon, Adam Spies and Kevin Donner will bring the property to market in early 2019.

Foreign investment has become so central to Washington CRE that its temporary contraction in 2016 appears to have prompted a substantial slowdown in the city's multifamily market.

Despite the opposition from Albert Ratner, Forest City shareholders approved the transaction last month.

"The assets serve as strong additions to our growing portfolio," says David Elkouby, president, American Equity Partners.

The building is presently divided into three units that are leased to two tenants, and a portion of the site is also leased to Omnipoint for the location of a cell tower.

"Demand for small, Class A warehouse spaces near New York City far exceeds the supply," says Sitex's Blake Chroman.

A panel discussion seeking solutions on affordable housing with public-private partnerships and community input anticipates greater tenant activism with the new State Senate.