Maverick Real Estate buys notes totaling $14M secured by two rental buildings in Manhattan, Brooklyn

Maverick Real Estate Partners bought notes totaling $14 million secured by one rental building in Manhattan and another in Brooklyn in two separate transactions with different borrowers.

In the larger, Maverick Real Estate Partners through the entity 82nd Street Residential LLC bought a note with an original principal of $8.5 million from Sterling National Bank secured by IHL Equities’s eight-unit rental (D9) at 9 East 82nd Street in Upper East Side, Manhattan.
The deal closed on November 19, 2021 and was recorded on December 28, 2021.
The property has 9,016 square feet of built space and 1,200 square feet of additional air rights for a total buildable of 10,216 square feet according to PincusCo analysis of city data.
The owner bought the property on March 29, 2019, for $12.5 million.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $1 million.
Ira Lifshutz, who signed on a mortgage is president of IHL Equities.

Direct link to Acris document. link

In the second, Maverick Real Estate Partners through the entity Weirfield And Dekalb LLC bought a note with an original principal of $5.5 million from BankUnited secured by Lazar Waldman’s eight-unit rental (C1) at 1633 Dekalb Avenue in Bushwick, Brooklyn and four-unit mixed-use building (S4) at 111 Weirfield Street in Bushwick, Brooklyn.
The deal closed on December 15, 2021 and was recorded on December 28, 2021.
The two properties have 8,914 square feet of built space and 1,260 square feet of additional air rights for a total buildable of 9,720 square feet according to PincusCo analysis of city data.

The owners according to the Department of Housing Preservation and Development includes Moshe Deutch, head officer and Moshe Deutsch, agent. The business entities are Yht Management and 111 Residence Llc.
Within a 400-foot radius of 111 Weirfield Street, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a permit issued on January 8, 2021 for the $1.3 million renovation of 6,353-square-foot R-2 building with eight residential units at 1089 Hancock Street.

Direct link to Acris document. link