A Kassin Sabbagh Realty affiliate through the entity BK 38th Lender LLC acquired the 23-unit condominium building with retail and community facility at 142-28 38th Avenue in Flushing, Queens through a foreclosure auction. Kassin Sabbagh Realty won the auction with a credit bid of $23.5 million through a judicial foreclosure that followed a bankruptcy. The former owners included Ai Guang Chen and Jin Wu Yu….
Feil Organization through the entity 255 Mall LLC as borrower signed a refi loan with lender Mutual of Omaha through the entity United Of Omaha Life Insurance Co valued at $28 million for two retail properties including the retail building (K6) at 255-01 Union Turnpike and the retail building (K1) at 255-03 Union Turnpike in Glen Oaks, Queens. The deal closed on October 24, 2024…
Meshulem Twersky through the entity 31-61 Vernon Blvd LLC as borrower signed a refi loan with lender Golden Bridge Funding through the entity Golden Bridge R2 LLC valued at $28.5 million for two residential elevator properties with 102 residential units including the 51-unit residential elevator building (D3) at 31-59 Vernon Boulevard in Astoria, Queens and 51-unit residential elevator building (D3) at 11-24 31st Drive in…
Portfolio School through the entity North Moore Real Estate Group LLC paid $6.9 million to David Swersky through the entity S&S Investors Two LLC for the two commercial condominium units at 27 North Moore Street in Tribeca, Manhattan in two separate transactions. The expected use is owner-occupied. The Portfolio School’s affiliate Tribeca Community School occupies space in the building. The first deal closed on November…
Chestnut Holdings of New York through the entity 1964 Gc LLC paid $2.9 million to Elliot Wolbrom through the entity El-Wol Realty Corp. for the 35-unit residential elevator building (D7) at 1964 Grand Concourse in Mt Hope, Bronx. The expected use is cash flowing. The deal closed on November 7, 2024 and was recorded on November 18, 2024. The property has 32,000 square feet of…
Vista Property, with offices in New York, Chicago and London, through the entity 627 Avenue U LLC paid $4.5 million to Abraham Cohen and Jacob Tambor through the entity Ocean Villas II LLC for the development parcels (V0) at 617 and 629 Avenue U in Sheepshead Bay, Brooklyn. There are three other vacant lots that are part of the development site but not part of…
Avi Dishi’s Elysee Investment Corp through the entity Metropolitan Management LLC paid $5 million to Pan Am Equities through the entity Caroline Holdings, LLC for the retail condominium unit at 546 West 207th Street in Inwood, Manhattan. The expected use is cash flowing. The building is divided into two condominium units, the retail and a garage. The garage, owned by Related Companies, was not part…
A special servicer filed a pre-foreclosure action claiming a loan with an original principal of $127.9 million that is secured by Brookfield Properties’ office building at One Pierrepont Plaza at 300 Cadman Plaza West, was in a maturity default. The special servicer for the securitized trust Series 2019-CORE, CWCapital Asset Management, filed the action in New York State Supreme Court in Brooklyn on November 15,…
Prospect Ridge through the entity Cactus Street Propco LLC paid $59.8 million to KSL Capital Partners and Hersha Hospitality Trust through the entity Brisam Management (De) LLC for the Holiday Inn Express New York City – Chelsea building (H3) at 232 West 29th Street in Chelsea, Manhattan. The expected use is cash flowing. The deal closed on November 8, 2024 and was recorded on November…
RXR Realty through the entity Rxr 91 Dekalb Owner LLC as borrower signed a new construction loan with lender Otera Capital through the entity Otera Capital Investissements XIV Inc. valued at $158 million for the property at 91 Deklab Avenue in Fort Greene, Brooklyn. On the tax block, there was one new building construction project filed totaling 288,849 square feet. It is a 275-unit, 288,849…
Rockrose Development through the entity Linc Lic L.L.C. as borrower signed a refi loan with lender Wells Fargo valued at $249.4 million for the 709-unit residential elevator building (D6) at 43-10 Crescent Street in Long Island City, Queens. The deal closed on November 1, 2024 and was recorded on November 15, 2024. The prior lender was Series 2014-C19 which held debt that had an original…
Sports and entertainment investment company BSE Global through the entity One Hanson Retail, LLC, purchased the retail condominium unit at 1 Hanson Place in Fort Greene, Brooklyn, for $10.3 million. The transaction occurred through a foreclosure sale. The former owners were Madison Realty Capital and Siguler Guff & Company. The debt holder was Amherst Capital Management through the entity Acm Cre Fund I-L, LP. The…
Royal Waste Services through the entity M&P Reali Enterprises, Inc paid $12.3 million to Ciminello Property Associates through the entity Cpa Close Avenue LLC for the industrial building (E9) at 973 Close Avenue in Soundview, Bronx, industrial building (E9) at 960 Close Avenue in Soundview, Bronx, and industrial building (E9) at 945 Close Avenue in Soundview, Bronx. The expected use is cash flowing. The deal…
UPDATED 5:20 a.m., November 19, 2024: Lawrence Movtaday’s Movcap through the entity St Marks Property Owner LLC paid $27.5 million to UBS Realty Investors through the entity 19-23 St. Marks Place Apartments Owner LLC for the mixed-use residential and retail building (K2) at 19-23 St Marks Place in East Village, Manhattan. The expected use is cash flowing. The deal closed on November 8, 2024 and…
Empire State Realty Trust through the entity Esrt 111-115 North 6th Street, L.L.C. paid $35 million to L3 Capital through the entity L3 Berry And N 6 LLC for the retail building (K4) at 111 North 6th Street at the corner of Berry Street in Williamsburg, Brooklyn. The expected use is cash flowing. The deal closed on October 31, 2024 and was recorded on November…
The Japanese medical firm Arkray Inc. through the entity Arkray Marketing, Inc. paid $46 million to Aby Rosen’s RFR Holding through the entity 102 Greene LLC for the retail building (K4) at 102 Greene Street in SoHo, Manhattan. The expected use is cash flowing. The deal closed on November 8, 2024 and was recorded on November 15, 2024. The property has 10,139 square feet of…
Ian Bruce Eichner’s Continuum Company through the entity 26 East 35th Street LLC paid $66.2 million to the Community Church of New York through the entity The Community Church Of New York for the specialty building (M1) at 34 East 35th Street in Grand Central, Manhattan, nine-unit residential walkup building (C5) at 32 East 35th Street in Grand Central, Manhattan, and nine-unit residential walkup building…
Maverick Real Estate Partners through the entity Meatpacking Retail LLC acquired Thor Equities’ retail building at 446 West 14th Street in the Meatpacking District that had a $27 million judgment, through a foreclosure auction held on July 17, 2024, but only disclosed in court records last week. The transfer has not yet been recorded in city property records. The referee report of sale was dated…
Maverick Real Estate Partners acquired four Croman Real Estate rental building at 208 to 214 East 25th Street in Kips Bay, Manhattan, that as of this month had a total judgment of $43.4 million, through a foreclosure auction held November 13, 2024, in Manhattan, according to a foreclosure auction surplus monies form filed the following day. In late October, the auction was put on the…
Beach Point Capital Management on Friday moved a step closer to acquiring title to Chetrit Group’s Hotel Bossert, located at 98 Montague Street in Brooklyn Heights, when a State Supreme Court judge handed down a judgment of foreclosure and sale that allows the court appointed referee to set an auction date for the property, that has a $177 million judgment lien. The judge, Lawrence Knipel,…
