The transportation service Sentry Management Solutions through the entity Semaso LLC paid $4.5 million to RXR Realty through the entity RXR 9 Bruckner Owner LLC for the industrial building (F9) at 9 Bruckner Boulevard in Mott Haven, Bronx. The expected use is owner-occupied. The deal closed on March 19, 2025 and was recorded on April 1, 2025. The property has 16,205 square feet of built…
Signatory Eric Hanninen through the entity 369 W46 LLC paid $5.5 million to James Glenn through the entity G -Squared R.E. Inc for the two-unit mixed-use building (K4) at 369 West 46th St in Hell’s Kitchen, Manhattan. The expected use is cash flowing. The deal closed on March 19, 2025 and was recorded on April 1, 2025. The property has 4,709 square feet of built…
The nonprofit Covenant House through the entity Covenant House Innovation Center LLC paid $7.5 million to Gotham Organization through the entity GO Covenant LLC for a commercial condominium unit at 475 West 40th Street in Hudson Yards, Manhattan. The expected use is owner-occupied. This is a long-planned transaction that was part of the development deal involving Gotham as developer in exchange, in part, for the…
Yisroel Blatter and Mayer Weber through the entity 1315 60th Street Realty LLC paid $11 million to Henry Kaszirer through the entity Kasmon, L.L.C for the industrial building (E1) at 1314 59th Street in Borough Park, Brooklyn. The expected use is owner-occupied. The property is already occupied by Aura Electrical Supply, which is affiliated with the Blatter and Kaszirer families. The deal closed on March…
Lone Star Funds through the entity Lsred7 Size Loan Trust 2024 bought a note with an original principal of $22.7 million from Flagstar Bank secured by SYU Properties’s two-unit office building (O6) at 247 West 30th Street in Penn Plaza, Manhattan. The deal closed on February 26, 2025 and was recorded on March 31, 2025. The prior lender was Flagstar Bank which held debt that…
W&L Group through the entity Hkony West 37 LLC as borrower signed a refi loan with lender CTBC Bank valued at $14.9 million for the 25-foot-wide hotel building (H3) at 11 West 37th Street in Grand Central, Manhattan. The deal closed on March 4, 2025 and was recorded on March 31, 2025. The prior lender was Berkshire Bank which held debt that had an original…
Cheskel Schwimmer through the entity Eleven W46 Realty LLC as borrower signed a additional construction loan with lender Valley National Bank valued at $95 million for a development site at Hell’s Kitchen, Manhattan. This is an additional $25 million in construction debt. On these lots, there are new building construction projects. The largest, M01020109, is a new building project for a 121-unit, 127,613 square-foot residential…
Griffon Ventures through the entity 152 GV LLC paid $3.6 million through a judicial foreclosure for the 41-unit residential walkup building (C1) at 152 Sherman Avenue in Inwood, Manhattan. The expected use is cash flowing. The prior owner that lost the building in this foreclosure was Barberry Rose Management Company. The deal closed on February 27, 2025 and was recorded on March 31, 2025. The…
David Switzer through the entity 86 Up LLC paid $8 million to Gould Investors through the entity Gould 86 University Place LLC for the four-unit mixed-use building (K4) at 86 University Place in Greenwich Village, Manhattan. The expected use is cash flowing. The deal closed on March 26, 2025 and was recorded on March 31, 2025. The property has 6,816 square feet of built space…
Malachite Group through the entity John Nassau LLC paid $18.4 million to Hidrock Properties through the entity 72 Nassau Associates LLC for the 10-unit mixed-use property at 72 Nassau Street in Financial District, Manhattan. To finance the deal, Malachite borrowed $12.1 million from Flushing Bank. Hidrock Properties paid $36 million for the property in 2019 where it planned to build a 30-story hotel on the…
Allied Realty & Development through the entity Allied IX LLC as borrower signed a refi loan with lender Customers Bank valued at $8.8 million for the retail building (K1) at 3002 Mermaid Avenue in Coney Island, Brooklyn. The deal closed on March 6, 2025 and was recorded on March 28, 2025. The prior lender was Alma Bank which held debt that had an original loan…
FBE Limited through the entity 1900 Acquisition LLC as borrower signed a refi loan with lender Genesis LLC through the entity NEG Financing 10 LLC valued at $36.8 million for five properties that make up the Marine Basin Marina including the specialty building (Q9) at 1900 Shore Parkway, the garage building (G1) at 1860-1900 Shore Parkway, and the vacant lot (V1) at 41st Street, all…
Harbor Group International through the entity 2101 564 St. Johns, LLC as borrower signed a refi loan with lender NewPoint Real Estate Capital valued at $76.2 million for the 193-unit residential elevator building (D1) at 564 St Johns Place in Crown Heights, Brooklyn. The deal closed on March 26, 2025 and was recorded on March 28, 2025. The prior lender was Flagstar Bank which held…
ZHL Group through the entity 237 East 77 LLC paid $4.2 million to Craig Filipacchi through the entity East Seven Seven, LLC for the development building (V1) at 235 East 77th Street in Lenox Hill, Manhattan. The expected use is ground up development. The deal closed on March 27, 2025 and was recorded on March 28, 2025. The property has zero square feet of built…
Lian Ping Chen and Yinjie Cai through the entity AIC Richland LLC paid $4.3 million to Jia Lin through the entity Bayside Re Group LLC for the retail building (K2) at 214-17 41st Avenue and the adjacent two-unit mixed-use building (S9) at 214-11 41st Avenue in Bayside, Queens. The expected use is cash flowing. The deal closed on March 14, 2025 and was recorded on…
Joel Zupnick through the entity 449 39th St. Realty Corp. acquired ownership from Samuel Benitez valued at $11.5 million for office building (O2) at 449 39th Street in Sunset Park, Brooklyn. The transaction was an entity level sale, not a deed transfer. The seller was facing a $4 million pre-foreclosure filing from 2023 from Providence Bank. The deal closed on March 19, 2025 and was…
Texas-based Lone Star Funds bought four loans from Flagstar Bank with an aggregate original principal of $220 million secured by properties owned by Olnick Organization, RXR Realty, Handler Real Estate Organization and Shamie family. The purchase of a loan does not necessarily imply distress. For example, at the same time as Lone Star Loans purchased these loans, it also acquired an $80 million note from…
Manny Malekan’s Malachite Group through the entity Mmm Funding LLC bought a note with an original principal of $6 million from Flushing Bank secured by Daniel Feinstein’s Feinstein Iron Works’s industrial building (G8) at 30-35 College Point Boulevard in College Point, Queens. The deal closed on March 17, 2025 and was recorded on March 27, 2025. The prior lender was Flushing Bank which held debt…
Joseph Torres through the entity 77 Box Street Holding Company LLC as borrower signed a refi loan with lender Morgan Stanley through the entity Morgan Stanley Bank valued at $41 million for the Box House Hotel building (H3) at 77 Box Street and 59 Box Street in Greenpoint, Brooklyn. The deal closed on March 13, 2025 and was recorded on March 27, 2025. The prior…
Stellar Management through the entity Croisic Building LLC as borrower signed a refi loan with lender Lone Star Funds through the entity Lsref7 Size LLC valued at $80 million for the office building (O6) at 218 Fifth Avenue in NoMad, Manhattan. Stellar Management controls the property as a ground lease tenant. The landlord is an affiliate of Dino Tomassetti Jr. The deal closed on February…
