SMS Financial through the entity SMS Financial CRE Fund, LLC bought a note with an original principal of $21.6 million from Fulton Bank secured by Jacob Fulop’s industrial building (E9) at 545 Broadway in Williamsburg, Brooklyn. The deal closed on March 21, 2025 and was recorded on April 3, 2025. The prior lender was Fulton Bank which held debt that had an original loan amount…
Feil Organization, BLDG Management, and Nakash Holdings through the entity FGN 140 Fee Owner LLC as borrower signed a rehab construction loan with lender Deutsche Bank valued at $65 million for the conversion of the office building (O6) at 134-140 West 57th Street in Midtown West, Manhattan to 47 residential units. Feil submitted conversion plans last month, as PincusCo first reported. The deal closed on…
Marx Development Group through the entity Boulevard Alp Associates, L.L.C. as borrower signed a refi loan with lender Tel Aviv Stock Exchange bondholders through the entity Mishmeret Trust Company Ltd valued at $76.8 million for two specialty properties with 204 residential units including the 204-unit specialty building (I7) at 71-61 159th Street in Flushing, Queens and specialty building (I7) at 636 Louisiana Avenue in East…
CIM Group through the entity 25-30 Columbia Heights (Brooklyn), LLC as borrower signed a refi loan with lender JPMorgan Chase and an affiliate of CIM Group, Panorama (Brooklyn) Lender LLC, valued at $245 million for four properties including the office building (O6) at 25 Columbia Heights, 51-67 Furman Street and a vacant lot (V1), all in Brooklyn Heights, Brooklyn. The deal closed on March 31,…
Zailan Xu through the entity Golden Circle 6623 LLC paid $3.5 million to Maria Andrews through the entity 6623 Realty Consultants LLC for the 27-unit residential walkup building (C7) at 6623 Ft Hamilton Parkway in Dyker Heights, Brooklyn. The expected use is cash flowing. The deal closed on March 28, 2025 and was recorded on April 3, 2025. The property has 24,001 square feet of…
Diamond National Investments through the entity Crystal House At East Harlem LLC paid $4 million to Assembly OSM through the entity 247 E 117 Street LLC for the development site (V1) at 247 East 117th Street in East Harlem, Manhattan. The expected use is ground up development. On the lot, there was one new building construction project, 123265484, for a 48-unit, 35,347 square-foot R-2 building….
Pinches Abowitz through the entity 1821 Cornaga LLC paid $5.8 million to Mark Weiss through the entity Morse Realty LLC for the specialty building (I5) at 18-21 Cornaga Avenue in Far Rockaway, Queens, retail building (K1) at 18-27 Cornaga Avenue in Far Rockaway, Queens, and industrial building (G7) at Morse Court in Far Rockaway, Queens. The deal closed on March 25, 2025 and was recorded…
Dan Min Wang through the entity C&W Queens LLC paid $7 million to the estate of Jerome Barshov through the entity 60-10 Maurice Avenue LLC for the industrial building (F4) at 60-10 Maurice Avenue in Maspeth, Queens. The expected use is cash flowing. The deal closed on March 20, 2025 and was recorded on April 3, 2025. The property has 15,000 square feet of built…
Camber Property Group through the entity Fsfhp Owner LLC paid $12.2 million through a real estate owned to Maguire Capital Group through the entity Fhp 26 LLC for the development site at 4218 Ft Hamilton Parkway in Borough Park, Brooklyn. The expected use is ground up development. The deal closed on March 28, 2025 and was recorded on April 3, 2025. The property has 7,972…
North Hill Capital Management through the entity 195 Chrystie Street Owner LLC as borrower signed a refi loan with lender Peapack Private Bank & Trust valued at $16.6 million for the three-unit office building (O6) at 195 Chrystie Street in Lower East Side, Manhattan. The deal closed on March 31, 2025 and was recorded on April 2, 2025. The prior lender was Fort Amsterdam Capital…
Pillar Property Management and Bronx Academy of Promise Charter School as borrower signed a refi loan with lender Self-Help Credit Union valued at $19 million for the specialty building (W3) at 1366 Cromwell Avenue in Mt Eden, Bronx. The deal closed on March 27, 2025 and was recorded on April 2, 2025. The property has 50,959 square feet of built space and 9,079 square feet…
Artifact and Ashok Khubani through the entity 1861 Amsterdam Avenue LLC as borrower signed a new construction loan with lender Bravo Capital through the entity BPT WSS Funding LLC valued at $36.8 million for three development properties with four residential units including the development building (V1) at 1861 and 1871 Amsterdam Avenue in Harlem, Manhattan. On these lots, there are two active new building construction…
Aetna Realty paid $13.5 million to Kinsey Equities for four adjacent properties at the corner of West 20th Street and Seventh Avenue in Chelsea, Manhattan, in three separate transactions. In the first, Aetna Realty through the entity 344 Bowery Retail LLC paid $4.5 million to Kinsey Equities through the entity Barmil Realty Associates LLC for the nine-unit mixed-use building (K4) at 201-203 West 20th Street…
The special servicer for a $265 million securitized loan filed a pre-foreclosure action in U.S. District Court in Manhattan yesterday alleging the loan secured by Metro Loft Management’s 573-unit rental building at 180 Water Street, in the Financial District, Manhattan, was in a maturity default. This action was not a surprise, as it was previously reported the loan was heading to special servicing by CWCapital…
Lender Morgan Stanley filed a $44 million pre-foreclosure action this week alleging the loan secured by the 122-room Hotel Hayden at 127 West 28th Street, in Chelsea, Manhattan, was in default. Morris Moinian, who leads the Fortuna Realty Group, also known as Fortuna Hotel Collection, owns the building. Court filings represent the position of one party and are not necessarily accurate or complete. Case LINK…
Michael Goldstein of Goldstein Group Equity and Goldstein Group NY Equities, through the entity 114-118 15th Street Note LLC bought a note with an original principal of $13.3 million from East West Bank secured by Bob Delidemitriou’s 19-unit residential elevator building (D3) at 116 15th Street in Gowanus, Brooklyn. The deal closed on March 27, 2025 and was recorded on April 1, 2025. The prior…
Joseph Vogel through the entity Crown 286 4th Avenue LLC as borrower signed a refi loan with lender JLL’s LaSalle Debt Investors through the entity LRECS Holdings IA, L.L.C. valued at $33 million for the 66-unit residential elevator building (D7) at 290 4th Avenue in Gowanus, Brooklyn. The deal closed on March 28, 2025 and was recorded on April 1, 2025. The prior lender was…
Related Companies through the entity Riverwalk 6, LLC as borrower signed a refi loan with a lender in care of Lionheart Strategic Management, GDF 405 Main LLC, valued at $75 million for three properties with 242 residential units including the 155-unit rental condo at 405 Main Street in Roosevelt Island, Manhattan, 87-unit rental condo at 405 Main Street in Roosevelt Island, Manhattan, and retail condo…
Goose Property Management through the entity Lorimer St Holdings LLC as borrower signed a refi loan with lender Apollo Global Management through the entity Athene Annuity And Life Company valued at $108.5 million for three properties including the property at 597 Grand Street in Williamsburg, Brooklyn. There was a 134-unit, 93,259 square-foot residential (R-2) building submitted by Yitzchok Katz with plans filed February 3, 2022…
Hazir Lushaj through the entity Apec Realty LLC paid $4 million to MB Capital Assets’ affiliate MAC Multifamily Investments through the entity MAC Bronx Portfolio I LLC for the 48-unit residential walkup building (C1) at 1161 Elder Avenue in Soundview, Bronx. The expected use is cash flowing. The deal closed on March 19, 2025 and was recorded on April 1, 2025. The property has 36,500…
