Invictus Capital Partners, by the petitioner Bill Wang, a director at the company, filed to place a parking garage condominium unit at 37-20 Prince Street in Flushing, Queens, valued at $7.6 million, into bankruptcy. Bankruptcy LINK This parking garage unit PU was owned by investor Kevin Wang but he lost the unit in a UCC sale to an affiliate of Invictus Capital Partners and CV…
A Vanbarton Group affiliate through the entity 31 Penn Plaza Senior LLC bought a note with an original principal of $168.4 million from Morgan Stanley secured by Vanbarton Group’s office building (O6) 31 Penn Plaza at 132 West 31st Street in Penn Plaza, Manhattan. Vanbarton Group bought the leasehold for $264.7 million in 2015 and bought the fee in January 2018 for $31 million, for…
Jacob Rosenberg through the entity YC Atlantic 2 LLC as borrower signed a new construction loan with lender Popular Bank valued at $20.8 million for two properties with 43 residential units including the 41-unit residential elevator building (D7) at 2767 Atlantic Avenue in Cypress Hills, Brooklyn and two-unit development building (V1) at 2777 Atlantic Avenue in Cypress Hills, Brooklyn. Michael Rosenberg of Urbane Management Team,…
Elad Group through the entity Civic Center Community Group Broadway LLC as borrower signed a refi loan with lender G4 Capital Partners through the entity G4 18250, LLC valued at $88.9 million for 48 unsold condominium units including 45 residential units two retail units and a parking garage unit, at 108 Leonard Street in Civic Center, Manhattan. The deal closed on May 23, 2023 and…
Abraham Gelbstein through the entity 1176 Nostrand LLC paid $2.5 million to Scott Kalb through the entity CK 1176 Realty LLC for the seven-unit residential walkup building (C7) at 1176 Nostrand in Prospect Lefferts Gardens, Brooklyn. The deal closed on May 15, 2023 and was recorded on May 31, 2023. The property has 6,400 square feet of built space according to a PincusCo analysis of…
Eili Blaleh through the entity EB Parkway Realty LLC paid $3.5 million to Itzhaki Acquisitions through the entity BH 431-433 Wythe Avenue LLC for the five-unit mixed-use building (S9) at 332 Rodney Street in Williamsburg, Brooklyn. The deal closed on May 23, 2023 and was recorded on May 31, 2023. The property has 4,400 square feet of built space according to a PincusCo analysis of…
Andy Lee through the entity Gmae1029 LLC paid $4 million to Mathew P. Angelone and Paul Angelone for the four-unit building (C3) at 328 Degraw Street in Carroll Gardens, Brooklyn. The deal closed on May 24, 2023 and was recorded on May 31, 2023. The property has 2,800 square feet of built space and 1,200 square feet of additional air rights for a total buildable…
Menachem Raskin through the entity 132 Montague St LLC paid $4.3 million to Roy Kirsh through the entity 132 Capulet Holdings, LLC for the six-unit mixed-use building (S9) at 132 Montague Street in Brooklyn Heights, Brooklyn. The deal closed on May 18, 2023 and was recorded on May 31, 2023. The property has 7,526 square feet of built space and 1,074 square feet of additional…
Manuel Diaz and Seneida Diaz through the entity Hugh Grant Circle Plaza LLC paid $6.3 million to Abro Management through the entity Tuckahoe Realty LLC for the retail building (K1) at 80 Hugh J Grant Circle in Unionport, Bronx. The deal closed on May 23, 2023 and was recorded on May 31, 2023. The property has 10,392 square feet of built space and 15,441 square…
Carlyle Group through the entity Bayside Gowanus Owner, L.L.C. bought a controlling stake for $100 million in Property Markets Group’s two-tower project in Gowanus, Brooklyn. Simultaneously with the loan, Carlyle Group and PMG obtained a $230 million construction loan from Apollo Global Management’s Athene Annuity and Life Company. PMG filed the plans in November 2021 for a 344-unit, 295,262-square-foot mixed-use building at 267 Bond Street…
Piermont Properties through the entity 188-11 Hillside Partners LLC as borrower signed a refi loan with lender entity Davis Hillside LLC valued at $29.2 million for the development at 188-11 Hillside Avenue in Holliswood, Queens. On the lot, there is one active new building construction project for a 93-unit, 72,308 square-foot R-2 building. The project was submitted by Piermont Properties and filed by Michael Grey…
Quinlan Development Group through the entity 41 Flatbush Owner, LLC as borrower signed a loan modification with lender PCCP through the entity PCCP Credit IX Reit-Sub Holdco, LLC valued at $137.5 million for the office building (O6) at 41 Flatbush Avenue in Fort Greene, Brooklyn. The deal closed on May 23, 2023 and was recorded on May 30, 2023. The prior lender was PCCP which…
Isidore Heimann through the entity 109 South 3rd LLC paid $3.9 million to Tobias Strulovitch through the entity 109 South 3rd Street LLC for the four-unit building (C3) at 109 South 3rd Street in Williamsburg, Brooklyn. The deal closed on May 16, 2023 and was recorded on May 30, 2023. The property has 3,000 square feet of built space and 4,534 square feet of additional…
Assembly OSM through the entity 247 E 117 Street LLC paid $4.1 million to HAP Investments through the entity 247-249 East 117th Street Mazal LLC for the development site (V1) at 247 East 117th Street in East Harlem, Manhattan. On this parcel is a 48-unit, 35,347 square-foot residential (R-2) project submitted by HAP Investments and filed by Monzer Khafagy with plans filed December 8, 2017…
RJ Capital Holdings through the entity RJ Blvd IV LLC paid $7.5 million to A&R Properties Group through the entity 138-13 QB Holdings LLC for the retail building (K1) at 138-13 and 138-21 Queens Boulevard in Briarwood, Queens. The deal closed on May 24, 2023 and was recorded on May 30, 2023. The two properties have 8,890 square feet of built space and 26,550 square…
Empire Automotive Group through the entity MB 108 Merrick Realty, LLC paid $9.2 million to Robert Gans through the entity 108 Merrick Boulevard LLC for the industrial building (E9) at 108-16 Merrick Boulevard in Jamaica, Queens and industrial building (E9) at 108-02 Merrick Boulevard in Jamaica, Queens. This sale is under the auspices of the jointly administered bankruptcies Robert Gans filed for entities that controlled…
Rockledge through the entity Rockledge 401 Edgecombe LLC paid $11.3 million to Peter Takiff and partners through the entity 401 Edgecombe Partners LLC for the 66-unit residential walkup building (C1) at 401 Edgecombe Avenue in Harlem, Manhattan. The deal closed on May 18, 2023 and was recorded on May 30, 2023. The property has 53,815 square feet of built space and 36,450 square feet of…
Stagg Group through the entity 435 West 238 Street LLC paid $18 million to Manhattan College for the 95-unit residential elevator building (D1) at 3801 Waldo Avenue in Fieldston, Bronx. The deal closed on May 17, 2023 and was recorded on May 30, 2023. The property has 92,000 square feet of built space according to a PincusCo analysis of city data. The sale price per…
The special servicer for a loan in foreclosure secured by the 16-unit rental at 1442 Lexington Avenue in Carnegie Hill alleged in a filing yesterday the borrower owes a total of $16.7 million on a loan provided in 2018 with an original principal of $11.6 million. No sale date has been set, but the court in December 2021 awarded the lender summary judgment for the…
Board at Continuum’s NoMad condo alleges $9M in construction problems: The board of the Continuum Company-developed condominium at 45 East 22nd Street alleges construction issues. According to the complaint, “The Offering Plan promised purchasers a building that would be designed and constructed in compliance with all applicable laws and the terms of the plan, and that would be safe to live in. Instead, the unit…