Tahari Capital through the entity 1875 Lex LLC paid $11.8 million to David Moore through the entity 1875 Lexington LLC for the 31-unit residential elevator building (D7) at 1875 Lexington Avenue at the corner of East 117th Street, in East Harlem, Manhattan. The expected use is cash flowing. The deal closed on December 30, 2024 and was recorded on January 6, 2025. The property has…
Osaka Biso Co. through the entity Osaka Biso Co., Ltd. paid $14 million to the entity 314 West 51 LLC for the 10-unit residential walkup building (C4) at 314 West 51st Street in Hell’s Kitchen, Manhattan. The expected use is cash flowing. The deal closed on December 23, 2024 and was recorded on January 6, 2025. The property has 7,605 square feet of built space…
Joyland Group, partnering with Borough Developers, paid $33.6 million to Mount Sinai Beth Israel for two hospital buildings, at 313-319 East 17th Street and 321 East 17th Street in Gramercy, Manhattan in two transactions. Borough Developers filed plans to convert each of the building into a residential use, yielding a total of 96 units at the two buildings. In the larger purchase, Joyland Group through…
CNY Group through the entity 143 Franklin Owner LLC paid $35.6 million to Krinos Holdings through the entity Krinos Properties for the mixed-use building (K4) at 143 Franklin Street in Tribeca, Manhattan. The expected use is cash flowing. The deal closed on December 31, 2024 and was recorded on January 6, 2025. The property has 33,800 square feet of built space and 1,710 square feet…
Arbor Realty Trust acquired five residential walkups in Concourse Village, the Bronx, in five transactions recorded over three days with a total valuation of $10.9 million through deeds-in-lieu of foreclosure. The former owner was Monarch Realty Holdings. Monarch paid $16.9 million for the buildings in 2018. In the largest, Arbor Realty Trust through the entity 1060 Sheridan Avenue Owner LLC acquired in a $3.5 million…
Partners Path paid $4.2 million to Marcel Fridman for two residential walkups, 1348 Willoughby Avenue and 329 Menahan Street in Bushwick, Brooklyn, in separate transactions. In the first, Partners Path through the entity 1348 Willoughby Owner LLC paid $2.1 million to Marcel Fridman through the entity 886 Frank Ave LLC for the six-unit residential walkup building (C2) at 1348 Willoughby Avenue in Bushwick, Brooklyn. The…
Jacky Levy through the entity 701 Realty LLC paid $3.7 million to MJ Orbach Associates through the entity 701 Brighton Realty LLC for the mixed-use building (K4) at 701 Brighton Beach Avenue in Brighton Beach, Brooklyn. The expected use is cash flowing. The deal closed on December 23, 2024 and was recorded on January 3, 2025. The property has 3,720 square feet of built space…
Multifamily landlord UDR, which controls the condominium boards at five large Upper West Side rental buildings it purchased from the Chetrit Group in 2012 for $630 million, alleges the Chetrit Group owes $6.2 million in condominium fees and late charges related to the retail units it still owns in those buildings. One of the main retail tenants is Whole Foods. The cases were filed December…
A Corona-based real estate developer filed a petition in U.S. Bankruptcy Court in Brooklyn yesterday seeking chapter 11 protection for the 105 unsold residential units in a 134-unit residential development called the Allura Waterfront condominium at 109-09 15th Avenue in College Point, Queens. Developer Choy Ling Lam filed the petition on behalf of himself and Ching Lam on January 6, 2025. This is the second…
InterVest Capital Partners through the entity 720 Wea Ventures LLC as borrower signed a refi loan with lender Deutsche Bank through the entity Deutsche Bank Ag, New York Branch valued at $200 million for the 132-unit condominium conversion building at 720 West End Avenue in Upper West Side, Manhattan. The deal closed on December 18, 2024 and was recorded on January 3, 2025. The prior…
RXR Realty and Blackstone Group through the entity RXR SL Owner LLC as borrower signed a loan modification with a group of lenders led by Morgan Stanley including Deutsche Pfandbriefbank, Alabama One Asset Management, MetLife, Aozora Bank, Sun Life Assurance Company of Canada, Woori Bank, and Blackstone Group through the entity Mortgan Stanley Mortgage Capital Holdings LLC valued at $900 million for the office building…
The Marchica family’s Georgia-based Lumar Capital through the entity 194 Stuyvesant LLC paid $3.3 million to Nir Sapir through the entity Stuyvesant LLC for the eight-unit residential walkup building (C1) at 194 Stuyvesant Avenue in Bedford Stuyvesant, Brooklyn. The expected use is cash flowing. The deal closed on December 16, 2024 and was recorded on January 3, 2025. The property has 7,907 square feet of…
B Square Realty through the entity BS LIC Realty LLC paid $3.5 million for the two-unit building (B9) at 42-46 27th Street in Long Island City, Queens. The expected use is ground up development. This property is in the footprint of B Square Realty’s revised plans for a 56-unit development at 42-38 27th Street on the tax block. The deal closed on December 24, 2024 and…
UPDATED, 11:35 a.m., January 6, 2025: Christopher Leahy’s New Jersey-based MRM Equity through the entity Gowanus PLD LLC paid $7.2 million to Candor Capital through the entity Third Ave Holdings 489 LLC for the eight-unit property at 489 3rd Avenue in Gowanus, Brooklyn. The expected use is cash flowing. The deal closed on December 23, 2024 and was recorded on January 3, 2025. The property…
Berggruen Holdings and Firebird Grove through the entity Atlantic Gardens LLC paid $25 million to Thor Equities through the entity Thor Atlantic Gardens LLC for nine adjacent properties from 525 Atlantic Avenue through 541 Atlantic Avenue in Boerum Hill, Brooklyn. The expected use is cash flowing. The deal closed on December 18, 2024 and was recorded on January 3, 2025. The nine properties have 33,759…
Terreno Realty Corporation through the entity Terreno Maspeth Ave, LLC paid $50 million to XPO Inc. through the entity Con-Way Freight Inc. for the industrial building (E1) at 49-15 Maspeth Avenue in Maspeth, Queens. The deal closed on December 27, 2024 and was recorded on January 3, 2025. The property has 35,658 square feet of built space and 193,736 square feet of additional air rights…
California-based cybersecurity firm Fortinet through the entity Fortinet, Inc. paid $50.5 million to Atlas Capital Group through the entity 548 W 22 Holding LLC for the retail and commercial building (K2) at 548 West 22nd Street in Chelsea, Manhattan. The expected use is owner-occupied. The deal closed on December 31, 2024 and was recorded on January 3, 2025. The property has 38,100 square feet of…
The Malachite Group, led by Manouchehr Malekan , paid $52.9 million to Imperial Sterling for eight retail properties in Rego Park, Queens, in the second group of transactions totaling $66 million between the parties. The first transaction of the $66 million was recorded last week, and was for $13.1 million, for 96-16 Queens Boulevard, in Rego Park. In the largest of the new group of…
The Zaccaro family company P. Zaccaro through the entity 1-3 Mott And 218 Lafayette Street Partners, LLC as borrower signed a refi loan with lender Oceanview Life and Annuity Company valued at $76.6 million for five properties with 50 residential units including the 11-unit residential elevator building (D9) at 73-75 Sullivan Street in SoHo, Manhattan, 12-unit residential elevator building (D6) at 68-70 Spring Street in…
Breaking Ground through the entity 1760 Third Avenue Housing Development Fund Corp as borrower signed a rehab construction loan with lender NYS Housing Finance Agency through the entity People Of The State Of New York, Acting Through valued at $120.8 million for the hotel building (H8) at 1760 3rd Avenue in Carnegie Hill, Manhattan. Crain’s reported previously that Breaking Ground planned to convert the building…
