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Clipper Equity signs $20M loan for newly completed rental in Crown Heights

Loan — 9/25/2023 9:02

Clipper Equity through the entity 1010 Pacific Owner LLC as borrower signed an initial loan with lender Valley National Bank valued at $20 million for the newly constructed rental building at 1010 Pacific Street in Crown Heights, Brooklyn. On the tax block, there were two new building construction projects totaling 150,574 square feet. The largest is a 175-unit, 118,994 square-foot residential (R-2) building submitted by…

William Su signs $22.3M refi with Cathay Bank for hotel in Chinatown

Loan — 9/25/2023 8:52

William Su through the entity 93 Bowery Holdings LLC as borrower signed a refi loan with lender Cathay Bank valued at $22.3 million for the Chinatown Wyndham Garden Hotel (H2) at 91 Bowery in Chinatown, Manhattan. The deal closed on September 13, 2023 and was recorded on September 22, 2023. The prior lender was Cathay Bank which held debt that had an original loan amount…

Griffon Ventures pays $3M to HK Organization for three properties in Morrisania

Sale — 9/25/2023 8:05

Griffon Ventures through the entity 988-992 GV LLC paid $3 million to HK Organization through the entity Boston Properties I, L.P. for the 15-unit residential walkup building (C1) at 988 Boston Road in Morrisania, Bronx, 16-unit residential walkup building (C1) at 992 Boston Road in Morrisania, Bronx, and development building (V3) at 585 East 164th Street in Morrisania, Bronx. The deal closed on September 14,…

Shaare Zion Congregation pays $5M for 2-family in Gravesend

Sale — 9/25/2023 8:02

Shaare Zion Congregation paid $5 million for the two-unit building (B1) at 2044 Ocean Parkway in Gravesend, Brooklyn. The deal closed on September 15, 2023 and was recorded on September 22, 2023. The property has 2,736 square feet of built space and 2,020 square feet of additional air rights for a total buildable of 4,765 square feet according to a PincusCo analysis of city data….

Carlyle Group pays $5.3M to Alon Ashourzadeh for mixed-use in Carroll Gardens

Sale — 9/25/2023 7:57

Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $5.3 million to Alon Ashourzadeh through the entity 423 Court LLC for the three-unit mixed-use building (S3) at 423 Court Street in Carroll Gardens, Brooklyn. The deal closed on September 19, 2023 and was recorded on September 22, 2023. The property has 3,200 square feet of built space and 4,366 square feet of additional air…

Wharton Properties sells 8-unit walkup in Williamsburg to Japanese firm for $9.8M

Sale — 9/25/2023 7:47

The Japanese company Creas Inc. paid $9.8 million to Wharton Properties through the entity 117 North 4th St LLC for the eight-unit residential walkup building (C1) at 117 North 4th Street in Williamsburg, Brooklyn. The deal closed on September 13, 2023 and was recorded on September 22, 2023. The property has 6,500 square feet of built space according to a PincusCo analysis of city data….

DII Stores pays $10.4M for retail in Sunset Park

Sale — 9/25/2023 7:35

Discount retailer DII Stores through the entity Sunset NYC Holdings LLC paid $10.4 million to Albert Mitrani through the entity Estjon, LLC for the retail building (K2) at 5105-5111 5th Avenue in Sunset Park, Brooklyn. The building has been long-occupied by Flamingo Furniture store. The deal closed on September 13, 2023 and was recorded on September 22, 2023. The property has 21,600 square feet of…

Itafin sells mixed-use in Lenox Hill through bankruptcy for $12.2M

Sale — 9/25/2023 7:18

The entity Frees NYC LLC paid $12.2 million to developer Itafin through the entity Adina 74 Realty Corporation for the five-unit mixed-use building (S5) at 6 East 74th Street in Lenox Hill, Manhattan. The buyer was identified in court papers at Sonia Cheng. The deal closed on September 13, 2023 and was recorded on September 22, 2023. The property has 8,360 square feet of built…

Emerald Equity loses 4 Harlem buildings through foreclosure to lender Ladder Capital

Sale — 9/25/2023 7:08

Lender Ladder Capital through the entity Lacp LLP acquired title from Emerald Equity Group for the 38-unit residential elevator building (D7) at 120 West 116th Street, the 31-unit residential elevator building (D7) at 1917 Adam C Powell Boulevard, the nine-unit residential walkup building (C7) at 110 St. Nicholas Avenue, and one other, in Harlem, Manhattan. Ladder Capital was the former lender and filed to foreclose…

Carlyle Group pays $7.1M for two walkups in Brooklyn

Sale — 9/22/2023 10:39

The Carlyle Group paid a total of $7.1 million for two walkup building to two separate sellers in Bushwick and in Bedford Stuyvesant, Brooklyn. In the first, Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $3.7 million to Eric P. Nachimovsky through the entity Adda Properties Group, LLC for the six-unit building at 128 Moffat Street in Bushwick, Brooklyn. The deal closed on…

DiFalco Group pays $7.6M for retail in Upper West Side

Sale — 9/22/2023 10:25

DiFalco Group through the entity Local Broadway LLC paid $7.6 million to Adam America Real Estate and Hampshire Properties through the entity 2461 Broadway LLC for two retail condominium units with 2,984 square feet on the first floor of the 52-unit condo building The Westly at 2461 Broadway in Upper West Side, Manhattan. The deal closed on September 11, 2023 and was recorded on September…

RYCO Capital pays $13.2M for retail, office in SoHo

Sale — 9/22/2023 10:06

RYCO Capital through the entity West Lake 414-416 West Broadway LLC paid $13.2 million to Valerie Berk through the entity Valroge Corporation for a retail and an office condo at 414 West Broadway in SoHo, Manhattan. The deal closed on August 8, 2023 and was recorded on September 21, 2023. The two properties have 13,850 square feet of built space according to a PincusCo analysis…

Hedge fund investor pays $17M for two townhouses in Greenwich Village

Sale — 9/22/2023 9:52

An affiliate of hedge fund investor Louis Bacon through the entity 133-135 W. 13th Street Holdings, LLC paid $17 million to Kenneth Rosenblum through the entity 133 And 135 W 13th St, LLC for the six-unit mixed-use building (S5) at 133 West 13th Street in Greenwich Village, Manhattan and five-unit mixed-use building (S5) at 135 West 13th Street in Greenwich Village, Manhattan. The deal closed…

HELP USA pays $17M for 195-unit shelter in Mt Eden

Loan — 9/22/2023 9:47

HELP USA through the entity Help Inwood Housing Development Fund paid $17 million to Abraham Podolok through the entity J&S Tellerman LLC for the 195-unit homeless shelter development at 1298 Inwood Avenue in Mt Eden, Bronx. On the lot, there is one active new building construction project for a 195-unit, 123,422 square-foot R-1 building. The project was submitted by Court Square Real Estate Partners and…

Coney Island dev site flips for $46M, up from $44.6M five months ago

Sale — 9/22/2023 9:44

The anonymously owned entity Bayview Complex LLC paid $46 million to Oceangate Family Holdings LLC for a development parcel building (G7) at Bay View Avenue in Coney Island, Brooklyn. Oceangate Family Holdings LLC bought the property on April 25, 2023 from Starrett Companies for approximately $44.6 million, according to a person familiar with the transaction composed of about $22 million in air rights and $22.6…

Aziz Tareb pays $6.2M for 43-unit rental in Van Nest

Sale — 9/21/2023 9:00

Aziz Tareb through the entity 2009 Cruger LLC paid $6.2 million to Aida Balaj through the entity Bronxdale Properties LLC for the 43-unit residential elevator building (D7) at 2009 Cruger Avenue in Van Nest, the Bronx. The deal closed on September 6, 2023 and was recorded on September 20, 2023. The property has 49,260 square feet of built space according to a PincusCo analysis of…

Nissan Jusupov pays $6.5M to UN International School for school in Jamaica Estates

Sale — 9/21/2023 8:58

Nissan Jusupov through the entity R&N 173-53 Croyden LLC paid $6.5 million to the United Nations International School for the school building (W3) at 173-53 Croydon Road and the adjacent vacant parcel (V0) at 173-65 Croydon Road in Jamaica Estates, Queens. The United Nations Internationals School is an independent private school affiliated with the United Nations located on the East Side of Manhattan. The school…

TARGO Capital Partners pays $9M for residential walkup in Tribeca

Sale — 9/21/2023 8:39

TARGO Capital Partners through the entity 110 Reade Property Owner LLC paid $9 million to Jad Sayage through the entity 110 Reade Street, LLC for the five-unit residential walkup building (C5) at 110 Reade Street in Tribeca, Manhattan. The deal closed on September 14, 2023 and was recorded on September 20, 2023. The property has 8,500 square feet of built space and 670 square feet…

Donald Hearn pays $11.8M for industrial in Ridgewood

Sale — 9/21/2023 8:36

Donald Hearn through the entity 1124 Wyckoff LLC paid $11.8 million to Lawrence Ben Pomeroy through the entity Whitlock Group LLC for the industrial building (F5) at 11-24 Wyckoff Avenue in Ridgewood, Queens. This is the buyer’s second purchase in Ridgewood. The deal closed on September 12, 2023 and was recorded on September 20, 2023. The property has 13,300 square feet of built space and…

$77M pre-foreclosure at Walter & Samuels Garment District office building

Other — 9/21/2023 7:49

The special servicer for a $77 million loan secured by the Walter & Samuels’s 143,479-square-foot office building at 315 West 36th Street in the Garment District, Manhattan. The special servicer, Midland Loan Services, on behalf of Series 2018-COR3, filed the complaint in New York State Supreme Court yesterday. LINK Bisnow reported in July 2023 that the loan was in default after co-working firm WeWork vacated…

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