UPDATED, 1:10 p.m., January 16, 2025: Canadian-Israeli apparel manufacturer Joey Schwebel and the investment firm Arkhouse Partners through the entity Butler NY Owner LLC paid $13 million through a bankruptcy to Benjamin Akkad and Nathan Akkad through the entity 255 Butler LLC for the industrial building (F2) at 255 Butler Street in Gowanus, Brooklyn. The expected use is unknown. The joint venture assumed a $10.3…
UPDATED 7:15 a.m., February 10, 2025: Metro Loft Management, which focuses on conversions of commercial properties to residential, through the entity 767 Third Property Owner LLC, partnered with Idan Ofer’s Quantum Pacific Group, and paid $88 million to Kaufman Organization through the entity 767 Third Avenue LLC for the office building (O4) at 767 Third Avenue in Midtown East, Manhattan. The expected use is conversion…
Ponte Equities through the entity 270 West Street, LLC paid $7.3 million to Sierra Real Estate through the entity 971 Ice Glen LLC for the 18-unit residential walkup building (C7) at 971 First Avenue in Sutton Place, Manhattan. The expected use is cash flowing. The deal closed on January 7, 2026 and was recorded on January 13, 2026. The property has 14,875 square feet of…
Jacob Rosenberg through the entity 406 Remsen Partners LLC as borrower signed a new construction loan with lender Popular Bank valued at $27.5 million for the 95-unit development parcel (V0) at 406 Remsen Avenue in East Flatbush, Brooklyn. Simultaneously with the loan, Rosenberg bought the parcel for $2 million from Amit Itshaik. On the lot, there is one active new building construction project, 340751813, for…
Zara Realty Holding through the entity Hillside Place LLC as borrower signed a refi loan with lender Customers Bank through the entity Customers Bank valued at $47 million for two residential elevator properties with 266 residential units including the 130-unit residential elevator building (D6) at 87-50 167th Street in Jamaica Hills, Queens and 136-unit residential elevator building (D3) at 166-33 89th Avenue in Jamaica, Queens….
Alloy Development through the entity 378 Schermerhorn Street LLC as borrower signed a refi loan with lender Maxim Capital Group through the entity Maxim Credit Group, LLC valued at $42.5 million for the conversion of the three-story former home of the Khalil Gibran International Academy school building (W1) at 362 Schermerhorn Street in Boerum Hill, Brooklyn, to retail, under Department of Buildings Job B01019436. The…
Stuart Podolsky and Jay Podolsky and the Chetrit Group through the entity West 63 Empire Associates LLC as borrower signed a refi loan with lender Benefit Street Partners through the entity Fbred Bdc Finance, LLC valued at $120 million for the Empire Hotel building (H1) at 1889 Broadway in Lincoln Square, Manhattan. The prior loan was held by bondholders of the trust Series 2013-GC10 which…
GFP Real Estate and TPG Real Estate Partners through the entity Broadway 2024 Lessor, LLC as borrower signed a renovation construction loan with lender BDT & MSD Partners [transactions & more] through the entity BDT & MSD RSLP Lending B, LLC valued at $222.8 million for the office building (O4) at 222 Broadway in Financial District, Manhattan. On the lot, there is one active major…
Fereydoun Khalili and David Khalili through the entity Jackson 26 LLC paid $4.7 million for the retail and office building (O5) at 83-20 Roosevelt Avenue in Elmhurst, Queens. The expected use is cash flowing. The deal closed on December 30, 2024 and was recorded on January 14, 2025. The property has 5,117 square feet of built space and 7,534 square feet of additional air rights…
Sadia Malik through the entity S & S Assets LLC paid $7.1 million to Nathan Lev Ari and Shahar Spitzer through the entity 1281 Arthur Kill Road, LLC for the retail building (K1) at 1281 Arthur Kill Road in Arden Heights, Staten Island. The expected use is cash flowing. The deal closed on December 12, 2024 and was recorded on January 14, 2025. The property…
UPDATED, 5:15 a.m., January 23, 2025: Jacob Fulop through the entity Fort Hamilton Lofts LLC paid $10 million to Madison Realty Capital through the entity 4202 Holdings LLC for the development building (V1) at 4202-4212 Fort Hamilton Parkway in Borough Park, Brooklyn. The expected use is ground up development. The deal closed on January 8, 2025 and was recorded on January 14, 2025. The property…
Maheshchand Ratanji through the entity Essence Hotel Ii LLC paid $14 million to SMA Group NYC through the entity Orchard Lodging LLC for the hotel building (H3) at 449 West 36th Street in Hudson Yards, Manhattan. The expected use is cash flowing. PincusCo reported on this transaction in October 2024 after the parties recorded a memorandum of contract. The deal closed on December 30, 2024…
Acadia Realty Trust through the entity 73 Wooster Retail LLC paid $25.4 million to EPIC LLC through the entity Epic 387 LLC for the retail condo at 73 Wooster Street in SoHo, Manhattan. The expected use is cash flowing. The deal closed on January 9, 2025 and was recorded on January 14, 2025. The property has 8,920 square feet of built space according to a…
Special servicer Rialto Capital Advisors, representing the securitized trust known as Series 2014-C23, halted the action it had initiated in early December to foreclose on a $180 million loan secured by RFR Holding’s 17 State Street in the Financial District. The motion to discontinue the case was filed yesterday in New York State Supreme Court in Manhattan. The filing does not provide any reason why…
Lone Star Funds bought three loans from Deutsche Bank with a combined original principal of just over $162 million that are secured by three A&E Real Estate Holdings rental buildings in Queens. In the first, Lone Star Funds through the entity Lsref7 Size, LLC bought a note with an original principal of $59.4 million from Deutsche Bank secured by A&E Real Estate Holdings’s 122-unit residential…
Rockpoint Group through the entity Rp Wimbledon Owner, L.L.C. as borrower signed a refi loan with lender KKR & Co. through the entity Forethought Life Insurance Company valued at $100.1 million for the 230-unit residential elevator building (D6) at 200 East 82nd Street in Yorkville, Manhattan. The Commercial Observer reported the total loan was $123 million, indicating a portion of the loan may be mezzanine…
Domain Companies through the entity 5-17 47th Ave LLC signed a memorandum of contract as buyer with the Graduate Center Foundation Housing Corporation as seller for the development site made up of parcels including 5-13 47th Avenue and 5-19 47th Avenue in Long Island City, Queens. The expected use is ground up development. The deal closed on November 14, 2024 and was recorded on January…
Upholstery designer Jouffre through the entity Atelier LIC Holdings 42-20 LLC paid $7.5 million to Jeffrey Levien through the entity Ermus Holdings, LLC for the industrial building (E1) at 42-20 13th Street in Long Island City, Queens. The expected use is owner-occupied. Jouffre purchased the adjacent property 42-26 13th Street in 2021 for $8.05 million. The deal closed on December 30, 2024 and was recorded…
The entity Amba 180 Holdings LLC paid $9.2 million to Robert Stern through the entity 180 Second LLC for the six-unit mixed-use building (S5) at 180 Second Avenue in East Village, Manhattan. The expected use is cash flowing. The deal closed on December 20, 2024 and was recorded on January 13, 2025. The property has 11,587 square feet of built space according to a PincusCo…
Golden Arc paid $27.57 million to Gavriel Sakaff for two new rental buildings in Brooklyn at 1590 East 19th Street in Midwood and 1669 East 19th Street two blocks south, in Sheepshead Bay. In the larger transaction, Golden Arc through the entity East 19th 1590 Daf LLC paid $14.4 million to Gavriel Sakaff through the entity 1590 East 19th Street LLC for the 22-unit building…
