Rose Associates is promoting from within - but outside the family - in its search for a new president, choosing its chief investment officer Marc Ehrlich for the role, the multifamily developer and manager announced Thursday.

Rose Associates, Inc., the New York-based multifamily real estate developer and manager, has recently appointed two individuals to the role of managing director. Alex Chin has been named managing director of finance and accounting, and John Nowak has been named managing director of construction.

Rose Associates, Inc. (Rose), the New York-based multifamily real estate manager and developer, was recently selected by The Arden Group to manage Forty Six Fifty, a newly constructed multifamily building at 4650 Broadway in Manhattan.

A joint venture between Rose Associates and Battery Global Advisors has obtained $112.7 million for the refinancing of Alexander Crossing, a recently completed 440-unit community in Yonkers, N.Y. Walker & Dunlop secured the note through Affinius Capital. Previous financing includes a $107.4 million construction loan originated in May 2021 from Bank of America, according to Yardi Matrix information. Two months later, Yonkers Industrial Development Agency also provided $3 million for the development. The Class A community broke ground in November 2021 and was topped out in 2022. Partners on the project included general contractor Callahan Construction Managers and architecture firm Perkins Eastman.

The actual demolition of buildings at the United Hospital site at 406-408 Boston Post Road and 999 High St. in Port Chester has gotten underway following work to remediate site contamination.