Tegern Capital through the entity 415 Smith Propco LLC paid $4.2 million to the Uchitel family’s Marchelo Smith LLC for the industrial building (G1) at 415-419 Smith Street in Carroll Gardens, Brooklyn. The property was marketed as a development site. The deal closed on December 4, 2024 and was recorded on January 8, 2025. The property has 5,670 square feet of built space and 6,930…
Bethpage-based gas station operator Macchia Group through the entity 3123 Atlantic Owners LLC paid $5.8 million to Doron Markowitz through the entity Paap Equities, Inc for the BP gas station (G4) at 3123 Atlantic Avenue in Cypress Hills, Brooklyn. The expected use is cash flowing. The deal closed on December 20, 2024 and was recorded on January 8, 2025. The property has 1,845 square feet…
Aron Langsam through the entity 4307-11 13th Avenue Realty, LLC paid $6 million to Hindy Caller through the entity Leknoy Realty, Inc. for the two-unit mixed-use building (S2) at 4311 13th Avenue in Borough Park, Brooklyn, mixed-use building (K4) at 4307 13th Avenue in Borough Park, Brooklyn, and mixed-use building (K4) at 4309 13th Avenue in Borough Park, Brooklyn. The expected use is cash flowing….
Nochum Goldshmid through the entity 400 Dewitt Avenue LLC paid $8 million to the entity 400 Dewitt, LLC for the industrial building (E1) at 386 De Witt Avenue in East New York, Brooklyn. The expected use is cash flowing. The deal closed on December 19, 2024 and was recorded on January 8, 2025. The property has 27,500 square feet of built space and 7,269 square…
Williams Equities through the entity 470 Park Ave South LLC paid $147.5 million to PGIM Real Estate and SJP Properties through the entity Prii Sjp 470 Park LLC for the office building (O6) at 470 Park Avenue South, the entire block front between 31st and 32nd streets in Midtown South, Manhattan. The expected use is cash flowing. The New York Post reported on this sale…
Special servicer LNR Partners filed a pre-foreclosure action alleging a $74 million loan secured by Walter & Samuels’s office buildings at 214 West 29th Street and 226 West 29th Street in Chelsea, Manhattan, was in default. The case was filed January 8, 2025, in New York State Supreme Court in Manhattan. The lender trust is Series 2019-BNK-20 and the borrower entity is Walsam New 29…
Sam Rubin’s Rubin Equities through the entity 286 Rider Avenue Owner LLC as borrower signed a new construction loan with lender Popular Bank through the entity Popular Bank valued at $36 million for the development building (V1) at 286 Rider Avenue in Mott Haven, Bronx. There is a new building project, 220707929, calling for a 107-unit, 76,626-square-foot residential (R-2) building originally submitted by Heritage Equity…
Tishman Speyer through the entity 160 Van Cortlandt Park South Housing Development as borrower signed a new construction loan with lender NYC Housing Development Corporation through the entity New York City Housing Development Corporation valued at $165.9 million for the development site (V0) at 160 Van Cortlandt Park South in Kingsbridge, Bronx. On the lot, there is one active new building construction project, X00757318, for…
Domain Companies through the entity 414 Gerard Owner LLC as borrower signed a refi loan with lender JLL through the entity JLL Real Estate Capital, LLC valued at $218.6 million for two residential elevator properties with 544 residential units including the 338-unit residential elevator building (D7) at 445 Gerard Avenue in Mott Haven, Bronx and 206-unit residential elevator building (D7) at 414 Gerard Avenue in…
The entity 180 Spring LLC paid $5.7 million to the entity Berry K LLC for the three-unit mixed-use building (S3) at 180 Spring Street at the corner of Thompson Street, in SoHo, Manhattan. The expected use is cash flowing. The deal closed on December 19, 2024 and was recorded on January 7, 2025. The property has 3,655 square feet of built space and 666 square…
New Jersey-based iLearn Schools through the entity 2800 Bruckner Blvd Owner, LLC paid $6.8 million to Martin Handler through the entity 2800 Bruckner Enterprises LLC for the office building (O2) at 2800 Bruckner Boulevard in Throgs Neck, Bronx. The expected use is owner-occupied. The deal closed on December 20, 2024 and was recorded on January 7, 2025. The property has 20,812 square feet of built…
Kings Capital through the entity 356 West 48th Jv LLC paid $7.6 million to Richard Scheiner through the entity 404-406 West 51st St. Realty Corp. for the 15-unit residential elevator building (D1) at 406 West 51st Street in Hell’s Kitchen, Manhattan and 10-unit residential walkup building (C4) at 404 West 51st Street in Hell’s Kitchen, Manhattan. The expected use is cash flowing. The deal closed…
Yeshiva Ketana Flushing paid $15 million to Kollel Avreichem Torah Veyirah through the entity S&O 741 Flushing LLC for the specialty building (I9) at 741 Flushing Avenue in Williamsburg, Brooklyn. The expected use is owner-occupied. The deal closed on January 2, 2025 and was recorded on January 7, 2025. The property has 22,430 square feet of built space according to a PincusCo analysis of city…
Prologis through the entity 440 Kingsland Ave LLC paid $120 million to ExxonMobil through the entity ExxonMobil Oil Corporation for the industrial building (F8) at 400 Kingsland Avenue in Greenpoint, Brooklyn. The expected use is ground up development. The deal closed on December 26, 2024 and was recorded on January 7, 2025. The property has 41,688 square feet of built space and 822,700 square feet…
MSquared and additional unidentified partners through the entity 3333 Broadway Owner, LLC paid $321.8 million to Brookfield Properties through the entity Bsrep Ua 3333 Broadway LLC for a ground lease that controls the 1,193-unit multifamily rental at 3333 Broadway in Manhattan. The expected use is cash flowing. Urban American Management was a part of the ownership with Brookfield, and remains so with MSquared. The deal…
Munich Re through the entity 320 Park Avenue Associates LLC paid $506.2 million through an entity level transaction to Mutual of America Life Insurance Company through the entity Mutual Of America Real Estate Holdings LLC for the office building (O4) at 320 Park Avenue in Midtown East, Manhattan. The New York Post reported Munich Re previously owned 25 percent, therefore this transaction values the entire…
Mack Real Estate Group filed a suit in Manhattan State Supreme Court yesterday seeking repayment of senior and mezzanine loans, along with additional fees, totaling nearly $223 million, alleging the loans secured by a Times Square hotel under renovation at 250 West 43rd Street, are in default. This is not a pre-foreclosure action. This is the second suit Mack filed against the Chetrit Group at…
Sage Hall Partners through the entity 46 Turtle Bay LLC as borrower signed a initial loan with lender Citizens Bank valued at $35 million for the 95-unit hotel building (HS) at 234 East 46th Street in Grand Central, Manhattan. The deal closed on November 21, 2024 and was recorded on January 6, 2025. The prior lender was Sage Hall Partners which held debt that had…
Sioni Group through the entity The Arabella Owner LLC as borrower signed a refi loan with lender Starwood Property Trust through the entity Starwood Property Mortgage Sub-6-A, LLC valued at $76.9 million for three properties commercial condos including the a residential unit with 160 apartments and two commercial units at 4720 3rd Avenue in Belmont, the Bronx. The deal closed on December 20, 2024 and…
Ilya Tolmasov and Daniel Arnel through the entity 77 Barrow LLC paid $6.7 million to the entity Barrow Grove Associates, Inc. for the 22-unit residential walkup building (C4) at 77 Barrow Street in West Village, Manhattan. The expected use is cash flowing. The deal closed on November 26, 2024 and was recorded on January 6, 2025. The property has 9,825 square feet of built space…
