SKW, Bain buy notes with original total of $23M secured by Thomas Makkos Manhattan commercial

SKW Funding and Bain Capital buy notes with original principal of $23 million secured by six Thomas Makkos Manhattan commercial properties.

In the first, SKW Funding and Bain Capital through the entity Skw-B Acquisitions Seller C, LLC bought a note with an original principal of $4.8 million from BankUnited secured by Thomas Makkos’s nine-unit rental (C7) at 1475 1st Avenue in Upper East Side, Manhattan.
The deal closed on November 30, 2021 and was recorded on December 10, 2021.
The property has 6,903 square feet of built space and 13,471 square feet of additional air rights for a total buildable of 20,380 square feet according to PincusCo analysis of city data.
The owner bought the property on September 18, 2006, for $3.6 million.
The signatory for SKW Funding and Bain Capital was Daniel Wrublin.

SKW Funding obtained financing from Centennial Bank to acquire the loans.
The owners according to the Department of Housing Preservation and Development include Thomas Makkos, head officer and George Makkos, officer. The business entity is 1475 First Ave, Llc.

Direct link to Acris document. link

In the second, SKW Funding and Bain Capital through the entity Skw-B Acquisitions Seller C, LLC bought a note with an original principal of $4.2 million from BankUnited secured by Thomas Makkos’s five-unit mixed-use building (S9) at 681 9th Avenue in Hell’s Kitchen, Manhattan.
The deal closed on November 30, 2021 and was recorded on December 10, 2021.
The property has 6,024 square feet of built space and 3,042 square feet of additional air rights for a total buildable of 9,066 square feet according to PincusCo analysis of city data.

The owners according to the Department of Housing Preservation and Development included Thomas Makkos, head officer and George Makkos, officer. The business entity is 681 Ninth Ave Llc.

Direct link to Acris document. link

In the third, SKW Funding and Bain Capital through the entity Skw-B Acquisitions Seller C, LLC bought a note with an original principal of $2.5 million from BankUnited secured by Thomas Makkos’s mixed-use building (K4) at 476 9th Avenue in Hell’s Kitchen, Manhattan.
The deal closed on November 30, 2021 and was recorded on December 10, 2021.
The property has 3,836 square feet of built space and 11,225 square feet of additional air rights for a total buildable of 15,050 square feet according to PincusCo analysis of city data.
The owner bought the property on January 30, 2008, for $4.1 million.
(110391585)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with one residential unit on May 22, 2013.
The owners according to the Department of Housing Preservation and Development include Thomas Makkos, head officer and George Makkos, officer. The business entity is 476 Ninth Avenue, Llc.

Direct link to Acris document. link

In the fourth, SKW Funding and Bain Capital through the entity Skw-B Acquisitions Seller C, LLC bought a note with an original principal of $3.7 million from BankUnited secured by Thomas Makkos’s 14-unit rental (C7) at 474 9th Avenue in Hell’s Kitchen, Manhattan.
The deal closed on November 30, 2021 and was recorded on December 10, 2021.
The property has 10,743 square feet of built space and 4,191 square feet of additional air rights for a total buildable of 14,929 square feet according to PincusCo analysis of city data.
The owner bought the property on July 14, 2006, for $2.7 million.

The owners according to the Department of Housing Preservation and Development include Thomas Makkos, head officer and George Makkos, officer. The business entity is 474 Ninth Ave Realty Holdings,Llc.

Direct link to Acris document. link

In the fifth, SKW Funding and Bain Capital through the entity Skw-B Acquisitions Seller C, LLC bought a note with an original principal of $2.9 million from BankUnited secured by Thomas Makkos’s three-unit mixed-use building (S3) at 472 9th Avenue in Hell’s Kitchen, Manhattan.
The deal closed on November 30, 2021 and was recorded on December 10, 2021.
The property has 5,913 square feet of built space and 8,858 square feet of additional air rights for a total buildable of 14,773 square feet according to PincusCo analysis of city data.

The owners according to the Department of Housing Preservation and Development include Thomas Makkos, head officer and George Makkos, officer. The business entity is 472 Ninth Avenue Llc.

Direct link to Acris document. link

In the sixth, SKW Funding and Bain Capital through the entity Skw-B Acquisitions Seller C, LLC bought a note with an original principal of $4.9 million from BankUnited secured by Thomas Makkos’s two-unit mixed-use building (S2) at 478 9th Avenue in Hell’s Kitchen, Manhattan and three-unit mixed-use building (S3) at 356 West 37th Street in Hell’s Kitchen, Manhattan.
The deal closed on November 30, 2021 and was recorded on December 10, 2021.
The two properties have 8,350 square feet of built space and 11,476 square feet of additional air rights for a total buildable of 19,835 square feet according to PincusCo analysis of city data.

The owners according to the Department of Housing Preservation and Development include George Makkos, head officer and Thomas Makkos, officer. The business entity is 356 West 37th St Llc.

Direct link to Acris document. link