Transfers

Hidrock Properties pays $36M to Baldwin Realty and others for future development site in Financial District

Hidrock Properties through the entity 72 Nassau Associates, LLC paid Baldwin Realty and others, $36 million for 72 Nassau Street in the Financial District. The deal closed on December 3, 2019, and was recorded on December 10, 2019. The transaction consists of 2 parcels, including the tax class commercial condominium unit in a mixed-use building. Hidrock bought out its former partners, and plans to build…

Juan Perez pays $12M to Michael Chiriac for property in Bushwick

Juan Perez through the entity Flushingper LLC paid Michael Chiriac’s Chiriac Holdings LLC $12.4 million for 1 St Nicholas Avenue in Bushwick. The deal closed on November 26, 2019, and was recorded on December 10, 2019. The transaction consists of 1 parcel, including the tax class semi-fireproof manufacturing building (F4). The property is 20,880 square feet. The parcel(s) have total development potential of 20,880 square…

Jeffrey Gershon’s Hope Street Capital pays $9M to Episcopal Diocese of Long Island for air rights in Clinton Hill

Jeffrey Gershon’s Hope Street Capital through the entity Superior Associates, LLC paid the Episcopal Diocese of Long Island’s Church Of St. Luke And St. Matthew $8.9 million for air rights from 520 Clinton Avenue to be given to 809 Atlantic Avenue in Clinton Hill. The deal closed on November 27, 2019, and was recorded on December 10, 2019. Hope Street purchased the church’s air rights…

East Williamsburg industrial building sells for $5M

961 Grand Street LLC paid Ovidiu Florin Carmocanu $5.4 million for 961 Grand Street in East Williamsburg. The deal closed on November 26, 2019, and was recorded on December 10, 2019. The transaction consists of 1 parcel, including the tax class light manufacturing building (F5). The property is 11,622 square feet. The parcel(s) have total development potential of 14,354 square feet. The average sale price…

David Moinian’s Moin Development borrows $110M from KeyBank for hotel development in Nomad

David Moinian’s Moin Development through the entity A&L 444 LLC as borrower signed a loan agreement with lender KeyBank valued at $110 million for 1 parcel, including the tax class luxury type hotel built prior to 1960 (H1) at 444 Park Avenue South in Nomad. The deal closed on December 2, 2019 and was recorded on December 10, 2019. The property contains a total of…

Catholic Charities Brooklyn & Queens borrows $55M from Greystone & Co. for property in Astoria

Catholic Charities Brooklyn & Queens through the entity Catherine Sheridan Housing Development Fund Comp as borrower signed a loan agreement with lender Greystone & Co. through the entity Greystone Funding Company, Inc. valued at $55.0 million for 1 parcel, including the tax class multifamily, miscellaneous (D9) and containing 241 residential units at 31-41 23rd Street in Astoria. The deal closed on October 31, 2019 and…

A&E Real Estate Holdings borrows $37M from Capital One for multifamily property in Washington Heights

A&E Real Estate Holdings through the entity 2 Ellwood Street, LLC as borrower signed a loan agreement with lender Capital One through the entity Capital One, National Association valued at $36.5 million for 2 parcels, including the tax class multifamily, semi-fireproof with stores (D7) and containing 338 residential units at 2 Ellwood Street, 64 Hillside Avenue in Washington Heights. The deal closed on November 26,…

Hidrock Properties borrows $28M from Citizens Bank for property in Financial District

Hidrock Properties through the entity 72 Nassau Associates as borrower signed a loan agreement with lender Citizens Bank valued at $27.9 million for the acquisition of 2 parcels, including the tax class commercial condominium unit (R5) and containing 10 residential units at 72 Nassau Street in Financial District. The deal closed on December 3, 2019 and was recorded on December 10, 2019. The property contains…

Lightstone Group borrows $20M from Banco Inbursa for property in Mott Haven

Lightstone Group through the entity 325 Exterior Street Associates LLC as borrower signed a loan agreement with lender Banco Inbursa through the entity Banco Inbursa, S.A., Institucion De Banca Multiple valued at $20.0 million for 1 parcel, including the tax class garage with two or more stories (G1) at 325 Exterior Street in Mott Haven. The deal closed on December 4, 2019 and was recorded…

Bentley Zhao’s New Empire Real Estate Development borrows $27M from Popular Bank for new development in Park Slope

Bentley Zhao’s New Empire Real Estate Development through the entity First Building Enterprises LLC as borrower signed a loan agreement with lender Popular Bank valued at $26.5 million for 269 4th Avenue in Park Slope. The deal closed on November 22, 2019 and was recorded on December 10, 2019. Zhao is developing a residential building. The last time the property sold was December 16, 2013,…

Kiumarz Geula’s Pillar Property Management borrows $15M from Bank of America for property in Morrisania

Kiumarz Geula’s Pillar Property Management through the entity 1114 Washington Avenue Realty LLC as borrower signed a loan agreement with lender Bank of America valued at $14.6 million for 4 parcels, including the tax class licensed parking lot (G6) at 1108 Washington Avenue, 1110 Washington Avenue, 1114 Washington Avenue, 3403 3rd Avenue in Morrisania. The deal closed on November 21, 2019 and was recorded on…

Yoel Goldman’s All Year Management borrows $13M from Dov Braun’s Nexus Capital Investments for property in East Williamsburg

Yoel Goldman’s All Year Management through the entity Flushing Stewart LLC as borrower signed a loan agreement with lender Dov Braun’s Nexus Capital Investments through the entity ZF Capital Holdings LLC valued at $12.5 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 25 Stewart Avenue in East Williamsburg. The deal closed on November 26,…

Erik Ekstein’s E+T Development Group borrows $11M from S3 Capital for acqusition of vacant land in Bushwick

Erik Ekstein’s E+T Development Group through the entity 1333 Broadway LLC as borrower signed a loan agreement with lender S3 Capital through the entity S3 Re Funding Iii LLC valued at $11.3 million for 1 parcel, including the tax class zoned primarily residential, except not Manhattan below 110th Street (V3) at 1325 Broadway in Bushwick. The deal closed on December 6, 2019 and was recorded…

Giorgio Armani buys co-op unit from John Legere for $17.5M

Giorgio Armani purchased a cooperative unit from outgoing T-Mobile CEO John Legere for $17.5 million at 91 Central Park West in Lincoln Square. The deal closed on November 25, 2019 and was recorded on December 10, 2019. Direct link to Acris document. link Direct link to the city’s interactive property map, ZOLA. link

iStar’s Safehold Inc. pays $617M to Nuveen (formerly TIAA) for property in Plaza District

iStar’s Safehold Inc. through the entity 425 Park Ave Ground Owner LLC paid Nuveen (formerly TIAA) through its T-C 425 Park Avenue, LLC $616.8 million for the ground-leased fee under 425 Park Avenue in the Plaza District. The deal closed on November 25, 2019, and was recorded on December 9, 2019. L&L Holding Company controls the office building through a long-term ground lease. The last…

Erik Ekstein’s E+T Development Group pays $17M to Jeremy Markowitz’s Heritage Real Estate Partners for vacant property in Bushwick

Erik Ekstein’s E+T Development Group through the entity 1333 Broadway LLC paid Jeremy Markowitz’s Heritage Real Estate Partners’s 1325 Broadway Holdings LLC $16.7 million for 1325 Broadway in Bushwick. The deal closed on December 6, 2019, and was recorded on December 9, 2019. The transaction consists of 1 parcel, including the tax class zoned primarily residential, except not Manhattan below 110th Street (V3). The sale…

Ciril Stern pays $7M to Shlomo Hershkop for property in Ocean Parkway

Ciril Stern through the entity 705 Mcdonald Ave LLC paid Shlomo Hershkop’s Deerhead Properties $7.0 million for 705 McDonald Avenue in Ocean Parkway. The deal closed on November 19, 2019, and was recorded on December 9, 2019. The transaction consists of 1 parcel, including the tax class car sales/rental without showroom (GU). The property is 16,452 square feet. The parcel(s) have total development potential of…

iStar’s Safehold Inc. borrows $202M from AIG for property in Plaza District

iStar’s Safehold Inc. through the entity 425 Park Ave Ground Owner LLC as borrower signed a loan agreement with lender AIG through the entity American General Life Insurance Company valued at $201.5 million for the ground-leased fee under 425 Park Avenue in Plaza District. The deal closed on November 25, 2019 and was recorded on December 9, 2019. The property contains a total of 666,996…

Invesco, Crown Acquisitions borrow $115M from Fifth Third Bank for retail property in Times Square

Invesco Real Estate and Crown Acquisitions through the entity Gateway Times Square Retail, L.P. as borrower signed a loan agreement with lender Fifth Third Bank valued at $115.0 million for two retail condominium units at 1466 Broadway in Times Square. The deal closed on November 27, 2019 and was recorded on December 9, 2019. Retailer JD Sports signed a lease for approximately 31,000 square feet…

Fairstead Capital, NYC Housing Partnership borrow $50M from Suntrust Bank for multifamily property in Sunset Park

Fairstead Capital Management and NYC Housing Partnership through the entity Sunset Park Owner I LLC as borrower signed a loan agreement with lender Suntrust Bank valued at $50.0 million for 18 parcels, including the tax class multifamily, over six families without stores (C1) and containing 187 residential units at 5319 6th Avenue, 5213 6th Avenue, 5211 6th Avenue, 5209 6th Avenue, 5207 6th Avenue, and…

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