Terreno Realty has acquired a Red Hook industrial property at 659 Court Street in Brooklyn for approximately $26.3 million, adding another operating industrial asset to its New York City portfolio. According to Commercial Observer, the waterfront property contains an approximately 28,000-square-foot industrial building. Terreno’s acquisition announcement states that the site spans roughly 1.5 acres, provides parking for 70 vehicles and includes two grade-level loading positio

Apex Building Group and L+M Development Partners have secured more than $217 million in financing for the third phase of Alafia, a large-scale affordable housing community in the Spring Creek section of East New York, Brooklyn. Developed in partnership with RiseBoro Community Partnership and Services for the UnderServed, Alafia Phase III will include two residential buildings with a combined 273 affordable apartments. The phase is expected to be completed in 2029. According t