ABCNY through the entity 140ny LLC paid $5.9 million through a foreclosure sale purchased the 36-unit residential elevator building (D7) at 140 Wadsworth Avenue in Washington Heights, Manhattan. The expected use is cash flowing. The former owner was Aaron Drazin . The former lender brought a foreclosure case, 850052/2023, which led to the auction. The deal closed on May 15, 2025 and was recorded on…
Longacre Asset Management, which is a joint venture of PH Realty Capital and Rockledge, paid $195.5 million to Related Companies for a 34-building rent regulated portfolio in the Bronx. Yesterday the transfer documents for the first group of properties, 11 buildings with 705 units, were recorded in city property records, totaling $68 million. The signatory for Related Companies was Matthew Becker . The signatory for…
Peak Capital Advisors through the entity 21st Owner LLC as borrower signed a refi loan with lender Starwood Capital Group through the entity SPT Real Estate Capital LLC valued at $21.5 million for two residential walkup properties with 48 residential units including the 24-unit residential walkup buildings (C7) at 231 and 233 East 21st Street in Gramercy, Manhattan. The deal closed on May 1, 2025…
The Durst Organization signed two refinancing loans totaling $440 million secured by three office buildings in Manhattan in two separate transactions. In the larger, Durst Organization through the entity Dolp 1155 Properties II LLC as borrower signed a refi loan with lenders Wells Fargo and JPMorgan Chase valued at $250 million for the office building (O4) at 1155 Avenue of the Americas in Midtown West,…
ABC Realty through the entity 559-7 LLC paid $5 million to David Boonshoft through the entity Boonco Industries LLC for the office condominium unit 7 at 599 Broadway in SoHo, Manhattan. The deal closed on May 7, 2025 and was recorded on May 21, 2025. The property has 7,505 square feet of built space according to a PincusCo analysis of city data. The sale price…
Frank Chan through the entity Evergold Fund LLC paid $33 million to George Terranova through the entity 224 Canal Street LLC for the office building (O6) at 224 Canal Street in Chinatown, Manhattan, retail building (K2) at 234 Canal Street in Chinatown, Manhattan, and office building (O6) at 232 Canal Street in Chinatown, Manhattan. The expected use is cash flowing. The deal closed on April…
Less than two months after Flagstar Bank filed a series of pre-foreclosure actions alleging a large portfolio of Pinnacle Group loans was in default, the borrower has placed most – but not all – of those properties into bankruptcy protection. Yesterday in U.S. Bankruptcy Court in Manhattan, Joel Wiener on behalf of the Pinnacle Group entities filed petitions for 82 entities that control 91 properties…
Deepak Raj through the entity 223 East 80th Street LLC as borrower signed a refi loan with lender Natixis through the entity Natixis Real Estate Capital LLC valued at $13 million for two mixed-use properties with nine residential units including the five-unit mixed-use building (S5) at 223 East 80th Street in Yorkville, Manhattan and four-unit mixed-use building (S4) at 7 East 19th Street in Flatiron…
Parkway Realty Associates through the entity St. Johns Flats LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $17.3 million for two residential elevator properties with 83 residential units including the 63-unit residential elevator building (D1) at 1539 St Johns Place and the 20-unit residential elevator building (D1) at 260 Buffalo Avenue in Crown Heights, Brooklyn. The deal closed on May…
Stonehenge NYC through the entity SP East 65 Street Owner LLC as borrower signed a initial loan with lender MetLife through the entity MetLife Real Estate Lending LLC valued at $45.9 million for the 159-unit residential elevator building (D6) at 360 East 65th Street with an alternate address of 1199 First Avenue in Lenox Hill, Manhattan. The deal closed on May 14, 2025 and was…
Yitzchok Katz of Goose Property Management through the entity 570 Fulton St LLC as borrower signed a refi loan with lender Affinius Capital through the entity SM Finance III LLC valued at $67 million for the 163-unit residential elevator building (D7) at 570 Fulton Street in Fort Greene, Brooklyn. The total amount of the financing was $80 million, but just $67 million was recorded in…
Mayer Leifer through the entity 70-78 West 126 Street LLC paid $3.5 million to Evangelical Lutheran Church In America through the entity Mnys West 126th LLC for the specialty building (M1) at 74 West 126th Street in Harlem, Manhattan, specialty building (M1) at 70 West 126th Street in Harlem, Manhattan, and specialty building (M3) at 72 West 126th Street in Harlem, Manhattan. The deal closed…
An affiliate of a family that owns the home furnishings textile firm Estex Home Fashions, JSI 304 LLC, by the signature of company president Jack Yakup Imir, paid $9.8 million to Dan Zhong through the entity The Development Group Of NYP, LLC for the office building (O6) at 304 Fifth Avenue in Penn Plaza, Manhattan. The expected use is owner-occupied. The deal closed on May…
Penn South Capital through the entity PSC State LLC paid $11 million to Kushner Companies and C-III Capital Partners through the entity KC3 – 354-356 State Street, LLC for the 20-unit residential walkup buildings (C1) at 354 and 356 State Street in Boerum Hill, Brooklyn. The expected use is cash flowing. The deal closed on May 13, 2025 and was recorded on May 20, 2025….
A federal bankruptcy judge yesterday denied the Manhattan Country School’s motion seeking up to $8 million in new debt superior to the approximately $24 million held by Flushing Bank, which is secured by the private school’s building at 150 West 85th Street on the Upper West Side of Manhattan. The school values the building at about $38 million. The judge’s ruling allows the school to…
Simkho Aranbayev through the entity 98 Metro Ik LLC paid $2.2 million to Michele Aditya through the entity Roama LLC for the retail building (K5) at 610 Utica Avenue in East Flatbush, Brooklyn. The expected use is cash flowing. The deal closed on May 6, 2025 and was recorded on May 16, 2025. The property has 3,400 square feet of built space and 23,195 square…
Yeshiva Yesoda Hatorah Vetz Chaim paid $4.7 million to Ronald Gilbert through the entity Centerland Brooklyn LLC for the specialty building (I9) at 9504 Glenwood Road in Canarsie, Brooklyn. The expected use is owner-occupied. The deal closed on May 9, 2025 and was recorded on May 16, 2025. The property has 12,400 square feet of built space according to a PincusCo analysis of city data….
RK Capital, Rafik Koptiev, and Bella Koptiev through the entity 1070 Dekalb Avenue LLC paid $5.3 million through an estate sale to Iosub Zaharia through the entity Estate Of Iosub Zaharia, Deceased for the two-unit mixed-use building (K4) at 40-23 and 40-25 Junction Boulevard in Corona, Queens. The expected use is cash flowing. The deal closed on May 8, 2025 and was recorded on May…
Sam Shalem’s Prestige Properties & Development through the entity Utopia Center Development, LLC as borrower signed a refi loan with lender Principal Real Estate Investors through the entity Principal Life Insurance Company valued at $44.5 million for the mixed-use building (K4) at 176-60 Union Turnpike in Jamaica Estates, Queens. The deal closed on May 6, 2025 and was recorded on May 19, 2025. The prior…
Italian design firm Pardgroup through the entity Pard RE USA LLC paid $5.5 million to Peter Arena through the entity L.R.A. Realty LLC for the industrial building (F4) at 58-18 64th Street in Maspeth, Queens. The expected use is owner-occupied. The deal closed on May 14, 2025 and was recorded on May 19, 2025. The property has 21,000 square feet of built space according to…
