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Recent News

$60.5 million loan secured for acquisition and preservation of Ocean Park Apartments affordable housing community in Far Rockaway

Jul. 29, 2025 By Ethan Marshall

The financial services provider Merchants Capital announced it has secured a $60.5 million balance sheet acquisition loan from Merchants Bank to finance the real estate developer Tredway’s purchase and preservation of Ocean Park Apartments, an affordable housing development with 602 units at 1-25 Beach 17th St. in Far Rockaway.

Finding Room to Grow: NYC Apartment Buildings Designed with Families in Mind

Jul. 29, 2025 By Tara Lustberg

Finding family-friendly housing in NYC can be a challenge, especially with the average rent of a two-bedroom apartment in NYC averaging over $5,400 per month, according to apartments.com. According to reports, this is significantly higher (148%) than the national average and has increased by 7% since December 2023. But some properties offer thoughtful amenities for families, making city living seem more manageable.