Pears brothers’ Tremada pays Goldmont Realty $10.2M for 30 unsold co-ops in Washington Heights

The billionaire British Pears brothers’ Tremada Properties through the entity Tremada 790 Rsd LLC acquired an interest from Goldmont Realty through the entity 790 Rsd Holdings LLC valued at $10.2 million for 30 unsold co-op units in the 202-unit co-op (D4) Riviera at 790 Riverside Drive in Washington Heights, Manhattan.
The deal closed on November 18, 2021 and was recorded on December 28, 2021. The stated transfer price was $12.9 million, but in bulk co-op unit sales the actual price is lower than the recorded price. That’s because the recorded price on which transfer tax is paid is a sum of the actual contract price plus a share of the co-op’s underlying mortgage proportionate to the sold shares.

The signatory for Tremada Properties was Stuart Berg.

Tremada Properties buys unsold sponsor units in bulk. PincusCo was the first to report of the Pears brothers’ acquisitions in New York City. Leon Goldenberg owns Goldmont Realty.

Mark Zborovsky, who specializes in the sale of unsold condo and co-op blocks, was the broker. His listing says 28 units are rent stabilized and two are free market.

Zborovsky did not respond to a request for comment.

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