JLL Arranges $135M in Construction Financing for Yonkers Multifamily Project
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. New York continues to bifurcate sharply: trophy office leasing at record rents, commodity Class B in conversion discussions or court-supervised processes. Rent-stabilized multifamily remains supply-constrained and tightly held. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
- The 319th New York story tracked on the wire in October 2026. All New York coverage →
- Disclosed multifamily deal value tracked in October 2026: $11.8B across 133 reported transactions. All Multifamily coverage →
- 203 stories mentioning JLL on the wire in the past 90 days. JLL coverage →
Computed from Real Estate Trail’s own tracked coverage
YONKERS, N.Y. — JLL has arranged $135 million in construction financing for The Ibex at Ridge Hill, a 282-unit multifamily project that will be located north of New York City in Yonkers. The financing consists of a $9…
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