Hee Nam Bae, who in May sold three buildings for $50.1 million, paid $12 million to Kemal Ilgar Peker and Ahmet Yildizel through the entity 386 Third LLC for the mixed-use building (K2) at 386 Third Avenue just south of 28th Street, in Kips Bay, Manhattan. The expected use is cash flowing. Hee Nam Bae bought the building through the entity City Lights Properties LLC….
The Elghanayan family’s TF Cornerstone paid $174.1 million to Jack Guttman‘s Pearl Realty Management for two development sites, 57 West Street and 24 Oak Street, on the Greenpoint waterfront in two separate transactions. In the first, TF Cornerstone through the entity 2 Noble North LLC paid $144.1 million to Pearl Realty Management through the entity 57 West LLC for the vacant lot at 43 West…
Joseph Sutton and Gorjian Real Estate Group through the entity 371 Broome Street LLC paid $12.8 million to Jackson Mak through the entity Good Luck Realty Corp. for the 30-unit residential walkup building (C7) at 373 Broome Street at the corner of Mott Street, in Little Italy, Manhattan. The expected use is cash flowing. The deal closed on August 2, 2024 and was recorded on…
The special servicer for $55 million in debt secured by Winter Properties 10-story commercial loft building at 57-59 East 11th Street in Greenwich Village, Manhattan, alleged the loan is in default. The servicer, LNR Partners, filed the pre-foreclosure action yesterday in New York State Supreme Court in Manhattan. Case LINK Court filings represent the position of one party and are not necessarily accurate or complete….
A Blackstone Group affiliate filed a pre-foreclosure action yesterday in Brooklyn alleging a $45.3 million loan Signature Bank gave in January 2023 to the owners of 6208 8th Avenue in Sunset Park, Brooklyn, including Watermark Capital Group, is now in default. There is currently a job application B00754062 for a 497-unit, 646,443-square-foot mixed-use tower at the property with the addresses 6128 8th Avenue and 6202…
UPDATED 2:25 p.m., August 12, 2024: Mortar Group through the entity Npl Mortar Owner LLC as borrower signed a refi loan with lender Hirshmark Capital through the entity 1132 31 Ave Funding LLC valued at $18 million for the 29-unit building at 11-32 31st Avenue in Astoria, Queens. On the lot, there is one active new building construction project, 421133295, for a 29-unit, 29,900 square-foot…
Safehold Inc. through the entity 500 West 23rd Street Ground Owner LLC as borrower signed an initial loan with lender John Hancock Life Insurance through the entity John Hancock Life Insurance Company (U.S.A.) valued at $20.6 million for the 111-unit residential elevator building (D8) at 500 West 23rd Street in Chelsea, Manhattan. Safehold Inc. is the fee owner, Equity Residential is the ground lessor. The…
Ruslan Musaev through the entity 40 East 20th LLC paid $3.1 million to Walter & Samuels through the entity Walsam 40 East 20 LLC for the retail condo at 40 East 20th Street in Flatiron District, Manhattan. The expected use is cash flowing. This is the fourth property Walter & Samuels has sold since March 2024. The deal closed on July 25, 2024 and was…
Erjon Pacaj through the entity West LLC paid $3.8 million to Robert Miller through the entity 610 W. 204th Realty Co., LLC for the 48-unit residential walkup building (C1) at 610 West 204th Street in Inwood, Manhattan. The expected use is cash flowing. The deal closed on July 12, 2024 and was recorded on August 7, 2024. The property has 35,000 square feet of built…
Developer Joel Schwartz through the entity 22 Frost St LLC paid $4.2 million to Jarrett Huddleston through the entity 22 Frost LLC for the development building (V1) at 22 Frost Street in Williamsburg, Brooklyn. The expected use is ground up development. The deal closed on August 1, 2024 and was recorded on August 7, 2024. The property has zero square feet of built space and…
Alembic Community Development through the entity HSVS Alembic Manager LLC acquired control from the Rabizadeh family and others through the entity 3rd Avenue Retail Enterprises LLC for the industrial building (G6) at 245 Clarkson Avenue in Prospect Lefferts Gardens, Brooklyn. The sale price was $10.5 million. The expected use is ground up development. The deal closed on August 2, 2024 and was recorded on August…
Sam Sprei through the entity 3052 Brighton Properties LLC paid $13.1 million to Madison Realty Capital through the entity 3052 Brighton St Owner LLC for the 41-unit residential elevator building (D7) at 3052 Brighton 1st Street in Brighton Beach, Brooklyn. The expected use is cash flowing. The deal closed on July 8, 2024 and was recorded on August 7, 2024. The property has 72,715 square…
The Srour family’s Jay Suites through the entity Jay On 38th Street, LLC paid $35 million to parnership for the office building (O6) at 8 West 38th Street in Grand Central, Manhattan. The expected use is cash flowing. The purchase was financed with a $19 million loan from Citibank. The deal closed on July 31, 2024 and was recorded on August 7, 2024. The property…
Florida billionaire Jeff Greene through the entity 62 Wooster, LLC as borrower signed a loan modification with lender Goldman Sachs through the entity Goldman Sachs Bank USA valued at $19 million for the seven-unit residential elevator building (D7) at 62 Wooster Street also known as 476 Broome Street in SoHo, Manhattan. The financing closed on July 26, 2024 and was recorded on August 6, 2024….
Sabah Shemel, David Shemel, and Danny Mashal through the entity Ka-No Realty, LLC (and others) as borrower signed a refi loan with lender JPMorgan Chase valued at $29 million for the 49-unit residential elevator building (D7) at 232 7th Avenue in Chelsea, Manhattan. The deal closed on August 2, 2024 and was recorded on August 6, 2024. The prior lender was Bank Hapoalim which held…
ABJ Properties paid $6.85 million to Related Companies for three residential walkups in Brooklyn at 32 Garnet Street, 132 Norman Street and 196 Sackett Street in three transactions. Related Companies bought the three buildings in 2015 for $10.8 million. In the first, ABJ Properties through the entity 32 Garnet LLC paid $2.7 million to Related Companies through the entity Nysandy8 Brooklyn 4 LLC for the…
Moishe Herman through the entity 596 E 170 St LLC paid $5 million to Atlantis Development through the entity East 170th Street Properties LLC for the 20-unit residential walkup building (C1) at 596 East 170th Street in Morrisania, Bronx. The expected use is cash flowing. The deal closed on July 16, 2024 and was recorded on August 6, 2024. The property has 13,080 square feet…
Ioannis Likidis through the entity Astoria Hoyt LLC paid $7 million to Helen Young through the entity Grecian Flame Realty Corp. for the mixed-use building (K2) at 25-02 31st Street in Astoria, Queens. The expected use is cash flowing. The deal closed on July 31, 2024 and was recorded on August 6, 2024. The property has 4,634 square feet of built space and 1,292 square…
Holliswood Development through the entity Edifice Columbia, LLC paid $7.1 million to Edward Lubin through the entity M.Lubin LLC for the nine-unit residential walkup building (C1) at 21 Columbia Place and the adjacent nine-unit residential walkup building (C1) at 19 Columbia Place in Brooklyn Heights, Brooklyn. The deal closed on July 30, 2024 and was recorded on August 6, 2024. The two properties have 8,924…
Piece of Cake Moving & Storage through the entity Group 24 46th Ave Realty LLC paid $12 million to Bonita Tarkenton through the entity 10-15 Realty, LLC for the storage building (F5) at 10-15 46th Avenue in Long Island City, Queens. The expected use is cash flowing. The deal closed on July 26, 2024 and was recorded on August 6, 2024. The property has 41,800…
