Axos Financial, the holding company for Axos Bank, alleges three loans originally totaling $23.5 million that were given in May 23, 2018, to fund the renovation of 148 Duane Street in Tribeca, are in default and the lender is seeking to foreclose on the loans now at $16.5 million. The borrowers are affiliates of Swig Equities and individual investors including Kent Swig, his family and…
APF Properties through the entity 183 Madison Owner Apf Lp as borrower signed a refi loan with lender LoanCore Capital through the entity Lcc Ss Trs Holdco LLC valued at $177.4 million for the office building (O6) at 183 Madison Avenue in Park Avenue South, Manhattan. The deal closed on January 8, 2025 and was recorded on January 10, 2025. The prior lender was LoanCore…
JEMB Realty through the entity Herald Center Department Store Of New York LLC as borrower signed a refi loan with lender Bank of Montreal through the entity Bank Of Montreal valued at $300 million for the retail building at 1293 Broadway in Penn Plaza, Manhattan. The deal closed on January 3, 2025 and was recorded on January 10, 2025. The prior lender was Series 2015-C25…
Giovanni Valerio’a Valerio Realty Group through the entity Valerio Realty Group LLC paid $2.5 million to the entity 127 Realty Company for the industrial building (F5) at 139 42nd Street in Sunset Park, Brooklyn. The two buildings on either side of this one are also owned by the same family that sold this building. The deal closed on December 20, 2024 and was recorded on…
Shlomo Zaga through the entity 1700 Utica LLC paid $3 million to Medoff Realty Corp. for the single-story retail buildings (K1) from 1700 to 1714 Utica Avenue in Flatlands, Brooklyn, with approximately 155 feet of frontage on Utica Avenue. The deal closed on November 20, 2024 and was recorded on January 10, 2025. The seven properties have 10,855 square feet of built space and 4,630…
Congregation Binyan Shloime through the entity Congregation Binyan Shloime paid $3.9 million for the three-unit building (C0) at 1542 47th Street in Borough Park, Brooklyn. The congregation paid $2.9 million in October for the three-unit building next door, at 1554 47th Street. The deal closed on December 24, 2024 and was recorded on January 10, 2025. The property has 4,416 square feet of built space…
SolaREIT through the entity SolaREIT2-A-II LLC paid $4.9 million to Abingdon Square Partners through the entity 435 Devoe LLC for the development building (V1) at 439 Devoe Avenue in Van Nest, Bronx. The expected use is ground-up development. The deal closed on December 5, 2024 and was recorded on January 10, 2025. The property has zero square feet of built space and 16,892 square feet…
Gilbane Inc. through the entity Manhattanville Owner LLC signed a 99-year ground lease valued at $4.9 million with the New York City Housing Authority for the 1,272-unit residential (D3) building complex at 1470 Amsterdam Avenue in Harlem, Manhattan. At the same time, Gilbane borrowed $445.9 million. The expected use is cash flowing. The deal closed on December 12, 2024 and was recorded on January 10,…
Harvey Lyons through the entity Tuskegee Storage Facility LLC paid $5.4 million through an estate sale to Fred Stark through the entity Elizabeth Farrell for the industrial building (G7) at 157-02 Tuskegee Airmen Way in Jamaica, Queens. The deal closed on January 9, 2025 and was recorded on January 10, 2025. The property has zero square feet of built space and 61,410 square feet of…
Lenders filed commercial pre-foreclosure actions on Friday where the combined original debt totals more than $71 million, at properties affiliated with owners such as Namdar Realty Group, Madison Realty Capital and Yoel Goldman. Namdar and Madison Realty Capital are large companies holding billions of dollars in assets. Namdar has purchase several office buildings in Manhattan, taking advantage of the steep decline in values for that…
Georgia Malone’s brokerage George Malone & Company filed a petition Friday asking a New York State Supreme Court judge to help the firm collect on a $6.7 million judgment awarded in February 2024 that followed 10 years of litigation in which the firm battled major multifamily owner Irving Langer and his partners, who did not pay a $3.4 million brokerage commission after they bought an…
Carlyle Group and Greenbrook Partners through the entity Townhouse Rental II, L.L.C. paid $3.6 million to Castro Harper Fund and Sapir Development Group through the entity 368 Weirfield Group LLC for the six-unit residential walkup building (C2) at 368 Weirfield Street in Bushwick, Brooklyn. The expected use is cash flowing. The deal closed on January 3, 2025 and was recorded on January 9, 2025. The…
Dan Shavolian of Foremost Real Estate through the entity 1932 Jerome Ave LLC paid $4.8 million to Ronald Gilbert through the entity Mikal Management Co., Inc. for the industrial building (G2) at 1932 Jerome Avenue in Mt Hope, Bronx. The expected use is ground up development. The deal closed on January 6, 2025 and was recorded on January 9, 2025. The property has 10,300 square…
DK Construction through the entity Apeks Group LLC paid $5.5 million to Vital Transportation through the entity Vti Realty, Inc. for 41-24 38th Street in Sunnyside, Queens. The deal closed on December 20, 2024 and was recorded on January 9, 2025. The property has 16,950 square feet of built space. The signatory for Vital Transportation was Berj Haroutunian. The signatory for DK Construction was Denis…
Touro University paid $42 million to New York College of Podiatric Medicine for the specialty building (W6) at 53 East 124th Street in East Harlem, Manhattan. The expected use is owner-occupied. The deal closed on January 1, 2025 and was recorded on January 9, 2025. The property has 55,770 square feet of built space and 118,381 square feet of additional air rights for a total…
UPDATED 9:05 a.m., January 26, 2025 with buyer info: A buyer entity registered with the law firm DLA Piper, 2457 Acquisition LLC, paid $67.2 million to APF Properties through the entity 24 West 57 APF LLC for the office building (O6) at 24 West 57th Street in Midtown West, Manhattan. The Real Deal reported on January 24 that the buyer was Stefan Soloviev who leads…
The Chabad of Gramercy Park filed for chapter 11 protection in U.S. Bankruptcy Court in Brooklyn on Wednesday, stating assets valued at $13.7 million related to five Manhattan properties, and debts above $24 million, most of which is a loan M&T Bank originated in 2020 for $23 million, which the bank sold to Ellington Management Group last year. Rabbi Naftali Rotenstreich, as president of the…
Investor Arthur Gabriel paid $8.275 million to Oak Tree Residential for three walkup buildings in the Brooklyn neighborhoods of Prospect Heights and Crown Heights, in three transactions. In the first, Arthur Gabriel through the entity 306 Prospect Pl Realty LLC paid $3.2 million to Oak Tree Residential through the entity Ota 306 Prospect, LLC for the eight-unit residential walkup building (C1) at 306 Prospect Place…
Partners Path through the entity 7 Ridgewood Owner LLC paid $3.6 million to Jacob Hager through the entity 7 Ridgewood Equities LLC for the eight-unit residential walkup building (C1) at 7 Ridgewood Place in Bushwick, Brooklyn. The expected use is cash flowing. The deal closed on December 23, 2024 and was recorded on January 8, 2025. The property has 6,000 square feet of built space…
Khalil Sikander through the entity 656 Manhattan LLC paid $4.2 million to Aulder Capital through the entity St. Nicholas Ave Apartments LLC for the 30-unit residential elevator building (D1) at 656 St Nicholas Avenue in Harlem, Manhattan. The expected use is cash flowing. The deal closed on December 31, 2024 and was recorded on January 8, 2025. The property has 20,640 square feet of built…
