Arkview Capital acquires Midtown West parking from Tribeach Holdings in $6M deed-in-lieu

Arkview Capital through the entity Ark FP Holdings Llc acquired from Tribeach Holdings through the entity Fastnet Parking LLC, the parking commercial condominium unit at 145 West 47th Street in Midtown West, Manhattan, through a $6 million deed-in-lieu of foreclosure. The expected use is hold for sale.
The deal closed on June 1, 2026 and was recorded on June 17, 2026. The property has 30,233 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $198 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on May 31, 2022, for $3.8 million. The signatory for Tribeach Holdings was Adrian Stroie . The signatory for Arkview Capital was Vijay Mehta . The contract date was June 1, 2026. The document is titled a deed in lieu of foreclosure. Tribeach Holdings borrowed $5.6 million from Arkview Capital for the parking unit in 145 West 47th Street, Midtown West, Manhattan on April 26, 2024. The rest of the building is a hotel.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Arkview Capital had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Tribeach Holdings had not purchased any other properties and had not sold any properties over the same time period.

The property

The property in Midtown West has 30,233 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 30,233 square feet. The city-designated market value for the property in 2022 is $11.4 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of eight of the nine commercial properties representing 3,151,132 square feet of the 3,154,582 square feet. The largest owner is Ivanhoe Cambridge, followed by Natixis and then RIU Hotels & Resorts .
On the tax block, there was one new building construction project filed totaling 112,862 square feet. It is a 401-unit, 112,862 square-foot hotel/dormitory/shelter (R-1) building submitted by Atlas Hospitality and filed by Raj Guru with plans filed April 28, 2021 and permitted December 4, 2023.

The majority, or 63 percent of the 3.2 million square feet of built space are office buildings, with hotel buildings next occupying 35 percent of the space.

The seller

The PincusCo database currently indicates that Tribeach Holdings owned at least three commercial properties in New York City with 83,119 square feet and a PincusCo-determined asset value of $62.1 million. The portfolio has $5.6 million in debt, borrowed from Arkview Capital. Within the portfolio, the bulk, or 72 percent of the 83,119 square feet of built space are hotel properties, with specialty properties next occupying 27 percent of the space.

Direct link to Acris document. link