Transfers

With pricing reset triggering surge in owner demand for agency refinancings, Eastern Union is hiring 50 new brokers: sponsored

Owner and investor demand for agency refinancings of multi-family properties has surged in response to a market-resetting quarter-point fee — with no back-end fees — recently introduced by Eastern Union, one of the country‚Äôs largest commercial real estate finance companies. To meet the demand triggered by the new fees, Eastern Union is on course to hire 50 additional brokers by the end of August. In…

Alex Adjmi pays $4.7M to Ponce Bank for retail in Longwood Melrose adjacent to parcels he owns

Alex Adjmi’s ACHS Management Corp. through the entity 30 East 170th Street Acquisitions LLC paid Ponce Bank $4.7 million for 30 East 170th Street in Longwood Melrose. The deal closed on July 27, 2020, and was recorded on August 6, 2020. The transaction consists of 1 parcel, including the tax class bank building with or without parking (K7). The property is 12,960 square feet. The…

Eric Miller borrows $31.3M from New York Community for multifamily in Brooklyn

Eric Miller refinanced $31.3 million from New York Community in four separate transactions covering multifamily buildings in Brooklyn. In the first, Eric Miller through the entity Ocean152 LLC as borrower signed a loan agreement with lender New York Community Bank valued at $9.6 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 72 residential units at 135 Ocean Avenue…

Abro Management refinances $25.4M for multifamily in Upper East Side, Jamaica

Abro Management refinanced $25.4 million in two transactions with two separate banks, with the larger on the Upper East Side and the other in Jamaica. In the first transaction, Abro Management through the entity 115-117 East Realty LLC as borrower signed a loan agreement with lender New York Community Bank valued at $17 million for 1 parcel, including the tax class multifamily, fireproof (standard construction…

Ivy Realty refis $20.8M from Aetna Life for office property in Rosedale

Ivy Realty through the entity Ivy CIP Land Holdings, LLC as borrower signed a loan agreement with lender Aetna Life Insurance Company valued at $20.8 million for 8 parcels, including the tax class office building with two to six stories (O2) at 133-33 Brookville Boulevard, 242-08 133rd Avenue, 242-12 133rd Avenue, 242-18 133rd Avenue, and others in Rosedale. The deal closed on August 1, 2020…

Albert Srour borrows $6.6M from New York Community for multifamily in Bay Ridge

Albert Srour through the entity 8300 4th Avenue Mgt Corp. as borrower signed a loan agreement with lender New York Community Bank valued at $6.6 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 69 residential units at 8300 4th Avenue in Bay Ridge. The deal closed on August 4, 2020 and was recorded on August 6, 2020. The…

Urban View Development Group borrows $6M from Terra Solid Capital for residential construction in Ridgewood

Nadav Hamo’s Urban View Development Group through the entity Summerfield Group Ventures LLC as borrower signed a loan agreement with lender Terra Solid Capital Ltd. valued at $6 million for 1 parcel, including the tax class not available at 1661 Summerfield Street in Ridgewood. The deal closed on July 10, 2020 and was recorded on August 6, 2020. The now-bankrupt company Brookland Capital filed plans…

Alex Adjmi borrows $5.1M from Signature Bank to buy retail in Longwood Melrose

Alex Adjmi’s ACHS Management Corp. through the entity 30 East 170th Street Acquisitions LLC as borrower signed an acquisition loan agreement with lender Signature Bank valued at $5.1 million for 1 parcel, including the tax class bank building with or without parking (K7) at 30 East 170th Street in Longwood Melrose. The deal closed on July 27, 2020 and was recorded on August 6, 2020….

Prana pays $7M for multifamily in Fordham, 7th city buy since November

Prana Investments through the entity 2105 Walton Ave. LLC paid Sharp Management’s 2105 Walton LLC $7 million for 2105 Walton Avenue in Fordham. The deal closed on July 28, 2020, and was recorded on August 5, 2020. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 55 residential units. The property is 51,165 square feet….

Herman Stark pays $2.1M for tax delinquent retail property in Tremont

Herman Stark through the entity Starco Tremont LLC paid Louis Joseph Russo, III, Esq. as Referee in the tax delinquent sale, $2.1 million for 929 East Tremont Avenue in Tremont. The deal closed on July 22, 2020, and was recorded on August 5, 2020. The transaction consists of 1 parcel, including the tax class one-story store building (K1). The property is 3,600 square feet. The…

Arker, Domain borrow $62.3M from PNC Bank for Spring Creek Gardens in New Lots

Arker Companies and the Domain Companies through the entity Spring Creek Apartments Preservation LLC as borrower signed a loan agreement with lender PNC Bank valued at $62.3 million for 10 parcels, including the tax class commercial condominium unit (R5) and containing 582 residential units at 902 Drew Street and 901 Drew Street and others at Spring Creek Gardens in New Lots, Brooklyn. The deal closed…

Nasser Ghorchian borrows $14.8M from TD Bank for Brooklyn portfolio

Nasser Ghorchian through the entity Safi 121, LLC as borrower signed a loan agreement with lender TD Bank valued at $14.8 million for seven parcels, including the tax class three-family (C0) and containing 65 residential units at 57 Hicks Street, 145 Atlantic Avenue, 101 Graham Avenue, 99 Graham Avenue, 121 Atlantic Avenue, and others in Brooklyn. The deal closed on November 22, 2019 and was…

Sherry-Netherland co-op in Plaza District borrows $10.7M in new debt from Union Fidelity

The Sherry-Netherland cooperative hotel through the entity The Sherry-Netherland, Inc. as borrower signed a loan agreement with lender Union Fidelity Life Insurance Company valued at $10.7 million for 1 parcel, including the tax class cooperative (D4) and containing 169 residential units at 781 Fifth Avenue in the Plaza District. The deal closed on July 2, 2020 and was recorded on August 5, 2020. The property…

Vincens Gjonaj borrows $5.9M from New York Community Bank for multifamily in Riverdale

Vincens Gjonaj through the entity 3536 Hull LLC as borrower signed a loan agreement with lender New York Community Bank valued at $5.9 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 66 residential units at 3536 Hull Avenue in Riverdale. The deal closed on July 23, 2020 and was recorded on August 5, 2020. The property contains a…

Edward Ostad borrows $5.4M from New York Community Bank for multifamily in East Village{

Edward Ostad through the entity East Village Re Holdings LLC as borrower signed a loan agreement with lender New York Community Bank valued at $5.4 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 9 residential units at 105 Avenue C in East Village. The deal closed on April 13, 2020 and was recorded on August…

Benzion Eisenberg borrows $5M from Ellington Management for multifamily in Sheepshead Bay

Benzion Eisenberg through the entity 1711 East 15 Street LLC as borrower signed a loan agreement with lender Ellington Management Group’s EPO II SBC 2018-1 LLC valued at $5 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 12 residential units at 1711 East 15th Street in Sheepshead Bay. The deal closed on July 21, 2020 and…

Jeffrey Farkas pays $10M to Adam Kaufman for multifamily property in the Upper West Side

Jeffrey Farkas through the entity 105 Partners LLC paid Adam Kaufman’s Delf Estates, Inc. $10.0 million for 227 West 105th Street in the Upper West Side. The deal closed on July 28, 2020, and was recorded on August 4, 2020. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 40 residential units. The property is 42,312 square…

Blackstone sells $553.5M in debt on Extell’s One Manhattan to life fund-led group

Blackstone Group sold the $553.5 million in debt on Extell Development’s One Manhattan Square to Life Insurance Company, Prudential Credit Opportunities and two funds managed by M&G Investments. The loan was secured by unsold units at the 815-unit One Manhattan Square at 252 South Street in Chinatown. Blackstone in January 2020 sold the loan with a maximum value of $553.5 million to Forethought Life Insurance…

LibreMax Capital borrows $32.5M from Axos Bank for development project in East Williamsburg

LibreMax Capital through the entity Lexington Umbrella VF, LLC as borrower signed a loan agreement with lender Axos Bank valued at $32.5 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 69 residential units at 710 Metropolitan Avenue in East Williamsburg. The deal closed on July 27, 2020 and was recorded on August 4, 2020. The…

Michael Grunberg borrows $20.8M from Apple Bank for office property in Flatiron

Michael Grunberg through the entity Grunberg 928 LLC as borrower signed a loan agreement with lender Apple Bank For Savings valued at $20.8 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 928 Broadway in Flatiron. The deal closed on February 19, 2020 and was recorded on August 4, 2020. The property contains a total…

PREVIOUS