Dime Community sells two notes with combined principal of $5.6M in Bay Ridge, Chinatown

July 23, 2021 4:21 am

Dime Community Bank sold two notes for with an original principal of $5.6 million, one in Bay Ridge, Brooklyn, and the other in Chinatown in Manhattan, in two separate transactions. The buyers were two separate entities, but both in care of the law firm Teitelbaum Gallagher.

In the first, Brick Hamilton Capital LLC bought a note with an original principal of $4.2 million from Dime Community Bank secured by Muhamet Nikezi’s 51-unit rental (C1) at 8501-8511 Fort Hamilton Parkway in Bay Ridge, Brooklyn.
The deal closed on July 12, 2021 and was recorded on July 22, 2021.
The property has 43,000 square feet of built space and 0 square feet of additional air rights for a total buildable of 13,612 square feet according to PincusCo analysis of city data.

The note buyer is care of Teitelbaum Gallagher.
The owners according to the Department of Housing Preservation and Development includes Muhamet Nikezi, head officer and Osmam Nikezi, shareholder. The business entity is 8501 Fort Hamilton Parkway, Ltd.

Direct link to Acris document. link

In the second, Frontline Funding LLC bought a note with an original principal of $1.4 million from Dime Community Bank secured by Jolanta M. Podbielska’s 18-unit rental (C7) at 169 East Broadway in Chinatown, Manhattan.
The deal closed on June 17, 2021 and was recorded on July 22, 2021.
The property has 9,925 square feet of built space and 0 square feet of additional air rights for a total buildable of 8,985 square feet according to PincusCo analysis of city data. The loan price per built square foot is $0 per the PincusCo analysis.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
The note buyer is care of Teitelbaum Gallagher.
The owner according to the Department of Housing Preservation and Development is Jolanta Podbielska, head officer. The business entity is Cjk Real Estate Llc.

Direct link to Acris document. link

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