The Brodsky Organization, GFP Real Estate and the Sorgente Group, plan to convert the Flatiron Building at 175 Fifth Avenue into 39 condominium units with retail on the ground floor, with the plans disclosed in documents filed with the city’s Department of City Planning, under application 2024M0252. The Commercial Observer first reported on the conversion plans filed with the city, and at the time the…
Steelpoint Property Group through the entity 30-44 32nd Street Astoria Owner LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $15.5 million for three residential walkup properties with 61 residential units including the 24-unit residential walkup building (C7) at 34-04 34th Avenue in Astoria, Queens, 20-unit residential walkup building (C1) at 30-42 32nd Street in Astoria, Queens, and 17-unit residential walkup…
Express Builders through the entity Boynton Properties 2 LLC as borrower signed a refi loan with lender Castellan Capital through the entity 1580 Story LLC valued at $23 million for the development site at 1580 Story Avenue in Soundview, Bronx. The deal closed on August 30, 2024 and was recorded on September 4, 2024. The prior lender was Blackstone Group which held debt that had…
M&R Hotel Management through the entity Glsc 48 Special, LLC as borrower signed a refi loan with lender Israel Discount Bank through the entity Israel Discount Bank Of New York valued at $38.7 million for the hotel building (H3) at 532-540 West 48th Street in Hell’s Kitchen, Manhattan. The deal closed on August 16, 2024 and was recorded on September 4, 2024. The prior lender…
Congregation Yetev Lev D’Satmar through the entity Congregation Yetev Lev Of 58th Street paid $1.5 million to Paula Leibowitz through the entity 5802 New Utrecht LLC for the two-unit mixed-use building (K4) at 5802 New Utrecht Avenue in Borough Park, Brooklyn. The expected use is ground up development. The congregation also owns the adjacent properties with the address 5804-5806 New Utrecht Avenue. Plans were filed…
Abraham Silberstein through the entity Abe Franklin LLC paid $2 million to Margate Atlantic Properties through the entity Dhm 594 Franklin LLC for the four-unit building (C3) at 594 Franklin Avenue in Crown Heights, Brooklyn. The expected use is cash flowing. The deal closed on August 22, 2024 and was recorded on September 4, 2024. The property has 3,296 square feet of built space and…
Updated 9:25 a.m., September 5, 2024: Simkho Aranbayev through the entity Jackson 37th Ave LLC paid $6 million to Deborah Levine through the entity Hy-Ann Realty Corp for the retail building (K2) at 96-01 37th Avenue in North Corona, Queens. The expected use is cash flowing. The deal closed on August 21, 2024 and was recorded on September 4, 2024. The property has 8,000 square…
Customers Bank filed a $6.2 million pre-foreclosure at the 47-unit rental building 620 East 178th Street in Tremont, the Bronx. The bank filed the complaint in Bronx County on September 2, 2024. Case 813819/2024E LINK Bashi Singer and Martin Kirzner, as trustee under a trust, obtained a $6.2 million loan from Customers Bank in 2017, the complaint says. Court filings represent the position of one party and…
An Algin Management affiliate through the entity LHL West LLC bought a note with an original principal of $115 million from JPMorgan Chase secured by Algin Management’s 301-unit residential elevator building (D6) at 229 West 60th Street in Lincoln Square, Manhattan. LHL West LLC is located at the address and suite number of Algin Management. The deal closed on August 29, 2024 and was recorded…
Good Fortune Realty of New York through the entity KH Realty Of Flushing LLC as borrower signed a refi loan with lender NewBank valued at $7.6 million for the ground floor commercial condominium at 42-76 Main Street in Flushing, Queens. The deal closed on July 31, 2024 and was recorded on September 3, 2024. The prior lender was Hirshmark Capital which held debt that had…
Shaban Mehaj through the entity MH Fordham LLC paid $8 million to Peter Kindler through the entity 125 Fordham LLC for the retail building (K1) at 125 East Fordham Road in Fordham Manor, Bronx. The deal closed on August 29, 2024 and was recorded on September 3, 2024. The property has 6,400 square feet of built space and 15,616 square feet of additional air rights…
An affiliate of investor Uttkarsh Lal through the entity 14th Street Commercial Unit LLC paid $8.5 million to Joseph Sutton and Marc Sutton, who are executives of Kids Town Inc., through the entity 10 East 14th Street Realty Associates, LLC for the retail condominium unit at the base of 10 East 14th Street in Greenwich Village, Manhattan. The expected use is cash flowing. The block-through,…
The urban fashion brand Carhartt WIP through the entity Ed Real Us, LLC paid $10.5 million to L3 Capital through the entity Rs Jz Bedford – N 6th, LLC for the retail building (K2) at 132 Bedford Avenue in Williamsburg, Brooklyn. This is Carhartt WIP’s second commercial purchase in New York City. Carhartt WIP, founded in 1994, is a licensee of the original Carhartt, Inc….
Meir Daus and Elad Ben-Kimon through the entity Devoe Condominiums LLC as borrower signed a new construction loan with lender Genesis Capital through the entity Genesis Capital, LLC valued at $10 million for at 107 to 109 Devoe Street in Williamsburg, Brooklyn. On these lots, there is one active new building construction project, 321590854, for a eight-unit, 9,998 square-foot R-2 building. The project was submitted…
Mendel Greisman through the entity 274 Sullivan Pl. LLC as borrower signed a new construction loan with lender S3 Capital through the entity S3 Re Funding III LLC valued at $13.3 million for the development 268 Sullivan Place in Crown Heights, Brooklyn, two-unit 1-4 family building (B1) at 270 Sullivan Place in Crown Heights, Brooklyn, and two-unit 1-4 family building (B1) at 274 Sullivan Place…
Double U Realty through the entity 723 Manhattan Gl LLC as borrower signed a refi loan with lender Citibank through the entity Citi Real Estate Funding Inc. valued at $28.3 million for the 48-unit residential elevator building (D7) at 723 Manhattan Avenue in Greenpoint, Brooklyn. The deal closed on August 21, 2024 and was recorded on August 30, 2024. The prior lender was Colorado Federal…
Congregation Yetev Lev D’Satmar through the entity Congregation Yetev Lev Of 58th Street paid $2.7 million to Paula Leibowitz through the entity 5804-5806 New Utrecht LLC for the retail building (K2) at 5804 and 5806 New Utrecht Avenue in Borough Park, Brooklyn. The expected use is ground up development. The congregation also owns the adjacent property with the address 5802 New Utrecht Avenue, according to…
Liberty One Group, led by executives including Jojo Rabinowitz, through the entity 1587 Third Investors LLC paid Marvin Azrak’s Maguire Capital Group through the entity MPLC Lender LLC $9.5 million for the storage building (E7) at 1587 Third Avenue in Yorkville, Manhattan. The prior owner was Daniel Ohebshalom’s Keystone Management. Ohebshalom lost the building to Maguire Capital in a foreclosure. Ohebshalom, also known as Dan…
Gerald Shallo through the entity 55 W 19 Aiovs LLC paid the former lender, Series 2017-C42, $7.6 million for an office building (O5) at 55 West 19th Street in Flatiron District, Manhattan, through a foreclosure process. The building was constructed in 1854, city records show. The deal closed on August 28, 2024 and was recorded on August 30, 2024. The property has 9,508 square feet…
Sunlight Development through the entity Sunrise Brooklyn LLC paid $9.8 million to William Chou through the entity Koban Properties, LLC for the nine-unit residential elevator building (D6) at 816 58th Street in Sunset Park, Brooklyn. The expected use is to complete construction. On the lot, there is one active new building construction project, 321192188, for a nine-unit, 22,614 square-foot residential (R-2) building. The project was…
