Kawa Capital buys 3 loans totaling $33M secured by Marx Realty, All Year in Manhattan, Brooklyn

By Varvara Budetti

Florida-based asset management group Kawa Capital Management purchased three loans with an original principal of $33.5 million from Sterling National Bank, according to city property records. Two loans were secured by two commercial buildings in the Lower East Side owned by Marx Realty & Improvement. The other building is owned by All Year Management.

The loan sales closed on June 24, 2021, and were recorded on July 9, 2021.

The two Marx Realty loans include one with an original principal of $12 million secured by the office building at 161 Bowery, and another with an original principal of $11.5 million, secured by 135 Bowery. Both were from 2018.

Marx Realty & Improvement bought the properties for $24.25 million each in 2018 through the entities WG Bowery and NM Bowery, respectively.

Kawa and Marx Realty & Improvement did not immediately respond to a request for comment.

Kawa Capital also purchased a note secured by All Year Management’s 41-unit residential building at 188 South 3rd Street in Williamsburg. That note had an original principal of $10 million. Sterling National Bank was the original lender.

Direct links to Acris document. link, link