The entity NYC Amsterdam Cap, LLC in care of the law firm Deutsch & Schneider, bought a note with an original principal of $12 million from M&T Bank secured by Albert Malekan’s office building (O5) at 75 Greene Street in SoHo, Manhattan. The deal closed on August 12, 2024 and was recorded on September 12, 2024. The prior lender was M&T Bank which held debt…
Jeff Sutton’s Wharton Properties through the entity 101 Wooster LLC as borrower signed a refi loan with lender U.S. Century Bank valued at $20 million for a retail space on the ground floor and lower level of the cooperative building at 101 Wooster Street in SoHo, Manhattan. The deal closed on August 9, 2024 and was recorded on September 12, 2024. The signatory for Wharton…
A group of investors including Atlas Capital Group, Fairstead, Blackstone Group, and Island Capital through the entity Mmp 162 Owner LLC as borrower signed a refi loan with lender Bridge Investment Group through the entity BDS IV Mortgage Capital LLC valued at $272.7 million for 11 properties with 625 residential units including the 200-unit residential elevator building (D9) at 250 West 19th Street in Chelsea,…
Habif Real Estate through the entity 453 Hudson LLC paid $6.4 million to the Vianna family through the entity Hudson Street Trust, Inc. for the seven-unit residential walkup building (C4) at 453 Hudson Street in West Village, Manhattan. The expected use is cash flowing. The deal closed on September 5, 2024 and was recorded on September 12, 2024. The property has 7,612 square feet of…
The Japanese investment firm Norbil Trust Co. through the entity Norbil Investment paid $10.1 million to Icon Realty Management through the entity 405 East 78 Realty LLC for the 16-unit residential walkup building (C1) at 405 East 78th Street in Lenox Hill, Manhattan. The expected use is cash flowing. The deal closed on August 29, 2024 and was recorded on September 12, 2024. The property…
The Great Neck-based Metropolitan Realty Group through the entity West 135th Apts Owner LLC paid $64 million to Jonathan Rose Companies through the entity West 135th Apartments, LLC for 10 rental buildings in Harlem including the 22-unit residential walkup building (C7) at 131 West 135th Street, the 22-unit residential walkup building (C7) at 123 West 135th Street, and the 18-unit residential elevator building (D3) at…
Gary Barnett’s Extell Development signed a contract in July to sell the development site with an address of 180 East 125th Street, also known as 2288 Third Avenue, for approximately $70 million, according to a recent filing with the Tel Aviv Stock Exchange. The filing did not identify the buyer or a buyer LLC. TASE pdf document with contract information A potential purchaser is Jacob…
Robert Gilardian’s Gilar Realty and Joseph Banda’s Ranco Capital through the entity Third Avenue Pavilion Residences, LLC as borrower signed a new construction loan with lender BridgeCity Capital through the entity BridgeCity Hilltop LLC valued at $82 million in senior debt and $5 million in mezzanine for the approximately 155-unit project at 540 Third Avenue, in Murray Hill, Manhattan. On the tax block, there is…
ZD Jasper Realty through the entity Zdj W 37 LLC as borrower signed a refi loan with lender Maxim Capital Group through the entity Maxim Credit Group, LLC valued at $35 million for the development site at 430 West 37th Street in Hudson Yards, Manhattan. On the lot, there is one active new building construction project, M00813221, for a 128-unit, 128,331 square-foot R-2 building. The…
ZD Jasper Realty through the entity Zdj Woodside 52 LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $35 million for the 87-unit residential elevator building (D6) at 43-15 52nd Street in Sunnyside, Queens. On the lot, there is one active new building construction project, Q00649207, for a 87-unit, 68,999 square-foot R-2 building. The project was submitted by Kathy Ho with…
Stagg Group through the entity Gunhill BH LLC as borrower signed a refi loan with lender Berkadia Commercial Mortgage valued at $42.2 million for the 134-unit residential elevator building (D7) at 739 East Gun Hill Road in Williamsbridge, Bronx. The deal closed on August 30, 2024 and was recorded on September 11, 2024. The prior lender was Valley National Bank which held debt that had…
Mendel Steiner through the entity 1801 50th Street Units LLC paid $5.3 million to Paula Claire Gold through the entity 1801 50th Street LLC for the 34-unit residential walkup building (C7) at 1801 50th Street in Borough Park, Brooklyn. The expected use is cash flowing. The deal closed on September 5, 2024 and was recorded on September 11, 2024. The property has 31,200 square feet…
Amerasia Bank through the entity Amerasia Bank paid $5.4 million to Jackson Group and ACHS Management through the entity 2147 86 Street LLC for the retail building (K2) at 2147 86th Street in Bensonhurst, Brooklyn. The expected use is owner-occupied. The deal closed on September 4, 2024 and was recorded on September 11, 2024. The property has 5,700 square feet of built space and 3,999…
French skincare retailer Caudalie through the entity Soixante Dix LLC paid $9.8 million to TriState Equities through the entity 130 Greene TIC LLC for the retail condo at 130 Greene Street in SoHo, Manhattan. The expected use is owner-occupied. The deal closed on September 6, 2024 and was recorded on September 11, 2024. The property has 3,048 square feet of built space according to a…
The former lender Madison Realty Capital through the entity 4452 Broadway Owner LLC acquired from HAP Investments through the entity 4452 Broadway Mazal LLC, the partially constructed 129-unit residential elevator building (D7) at 4452 Broadway and the adjacent development parcel (V1) at 44 Fairview Avenue in Washington Heights, Manhattan. The city’s transfer value was $26.5 million, which is often the value of the defaulted loans….
The New York City Azerbaijani Jewish congregation, Beit Juhuro, paid $2.5 million to Oleg Bezenchuk through the entity 2320 Avenue U, LLC for the single-story office building (O7) at 2320 Avenue U in Sheepshead Bay, Brooklyn. The deal closed on August 30, 2024 and was recorded on September 10, 2024. The property has 5,040 square feet of built space according to a PincusCo analysis of…
Yitzchok Weinberg of Griffon Ventures through the entity FCF 1860 LLC paid $4.8 million to Morris Neuman through the entity Jdm Realty Group LLC for the three-unit mixed-use building (K4) at 1860 Flatbush Avenue in Flatlands, Brooklyn. The deal closed on September 5, 2024 and was recorded on September 10, 2024. The property has 14,940 square feet of built space according to a PincusCo analysis…
The Blackstone Group through the entity SIG CRE 2023 Venture LLC filed a $19 million pre-foreclosure at the Chelsea office building at 151 West 25th Street. Berl Jacobowitz through the entity Royal Equities bought the building for $3.8 million in 1985, then in 2006 the name was changed to Royal Equities Operating LLC, which in February 2016 borrowed $19 million from Signature Bank. The lender…
Mack Real Estate Group says Meyer Chetrit of the Chetrit Group owes the lender $18.5 million because of a payment guaranty related to a mezzanine loan at the stalled Hudson Yards, twin-towered hotel project at 545 West 37th Street. The Commercial Observer reported in February 2023 that an $85 million loan package was being marketed for sale, composed of $53.7 million in senior debt and…
Citizens Bank filed eight pre-foreclosure actions alleging eight loans secured by multifamily rental buildings in Harlem and Washington Heights totaling $67.8 million were in default. The properties are owned by limited liability companies that are connected with real estate investors Chaim Katzman and Shaul Rikman, the court filings said. The owners bought the buildings between 2012 and 2015. In each case, the signatory for each…
