RESIDENTIAL REAL ESTATE
The City announced two new affordable housing projects in Downtown Far Rockaway following rezoning last September. The nonprofit Community Builders, Inc. will develop 224 apartments on a city-owned lot at Beach 21st Street as part of a larger project set to include 8,000 square feet of community facilities. In Far Rockaway Village, the city’s Department of Housing Preservation and Development and Housing Development Corporation will work with developer Phipps Houses on a mixed-use development that will include 92,000 square feet of commercial space, a 23,000-square-foot public plaza and 457 apartments. Read more at Curbed New York.
COMMERCIAL REAL ESTATE
David Werner, Deutsche Bank Asset Management and Alexandria Real Estate Equities will pay $365 million for Pfizer’s Midtown East headquarters, with support from Morgan Stanley. The two buildings at 219 and 234 East 42nd St. total 1.2 million square feet. Read more at BisNow.
Chipmaker Broadcom announced it will acquire San Jose, Calif.-based CA Technologies for $18.9 billion in cash. Read more at Long Island Business News.
New York-based MediaMath closed its Series C funding round with $73.5 million in investments, led by Searchlight Capital Partners. The digital ad-buying company has raised over $500 million in total capital since it was founded in 2007. Read more at the New York Business Journal.
The Labor Department announced that the consumer price index was up 0.1 percent in June versus the year prior, but inflation increased 2.9 percent from the same time last year, the largest annual gain since February 2012. Read more at Long Island Business News.
Gallup’s State of American Well-Being ranks South Dakota as the best state in which to retire. The findings are based on the results of over 2.5 million surveys to judge how people feel about five aspects of their lives: purpose, social, financial, community and physical. New York ranked 50th. Read more at Bank Rate.