Two80 Real Estate Ventures through the entity 246 Wadsworth Realty LLC paid $3.9 million to Stellar Management through the entity Two Forty Six Wadsworth Associates for the 26-unit residential walkup building (C1) at 248 Wadsworth Avenue in Washington Heights, Manhattan. The deal closed on July 17, 2024 and was recorded on July 22, 2024. The property has 20,810 square feet of built space according to…
Aurec Capital and Golden Arc through the entity Dmc Gc Property L.P. paid $4.6 million to the Roman Catholic Church of the Blessed Sacrament for the townhouse building (M4) at 133 West 70th Street in Lincoln Square, Manhattan. The deal closed on July 10, 2024 and was recorded on July 22, 2024. The property has 6,396 square feet of built space and 1,600 square feet…
Hersel Torkian’s Torkian Group through the entity 120 Greenwich Investors LLC paid $5 million to Joseph Sitt’s Thor Equities and ASB Capital Management through the entity Thor ASB 120 Greenwich LLC for three retail condominium units at 120 Greenwich Street in Financial District, Manhattan. Thor and ASB Capital Management bought the retail units in July 2014 for $31.1 million. The sale represents an 84 percent…
Peter Hungerford’s PH Realty Capital and David Kaye and Joe Listhaus’s Rockledge CRE paid $54.8 million to Sentinel Real Estate for six rental buildings in Upper Manhattan with a total of approximately 332 apartments in six separate transactions. These are the first sales recorded in an overall transaction valued at $179 million for 24 rental buildings the partnership is buying from Sentinel Real Estate, according…
Ayush Kapahi signed for the entity 2324 Webster Realty LLC as borrower for a new construction loan with lender Popular Bank valued at $9.9 million for the 40-unit development at 2324 Webster Avenue in Belmont/Little Italy, Bronx. On the lot, there is one active new building construction project for a 40-unit, 31,987 square-foot R-2 building. The project was submitted by Darwin Torres and filed by…
An investment group led by David Berley’s Walter & Samuels placed a NoHo rental building just west of Bowery at 4 Bleecker Street into bankruptcy, declaring it was worth just $1.6 million but had debts of $15 million. The petition was filed July 16, 2024, in U.S. Bankruptcy Court in Manhattan. Case 24-11237-mew LINK Chapter 11 pdf The property has a complex ownership structure and…
The Israel-based LENY Group, led by Rudy Gabsi, filed its second bankruptcy this year at the 40-unit rental property 190 Berry Street in Williamsburg, Brooklyn. This new filing by the owner entity LENY Berry Holdings LLC, is to facilitate a quick sale of the property with an anticipated auction on September 4, and a closing date of September 9. (bid procedures pdf) LENY Group filed…
The special servicer for bondholders of a securitized loan, GS Mortgage Securities Corporation II Commercial Mortgage Pass-Through Certificates, Series 2017-GS5, filed a pre-foreclosure action against the Argentinian owners of 20 West 37th Street, a 69,701-square-foot office building in the Garment District, Manhattan. The building is owned by affiliates of the Neuss Group, which manages assets of the Neuss family of Argentina. The lender representative filed…
Lagfin, a Luxembourg-based company that manages the assets of the billionaire Garavoglia family of Italy, through the entity Boulevardier Spritz LLC (and others) as borrower signed an initial loan with lender Deutsche Bank through the entity Deutsche Bank Luxembourg SA valued at $34 million for six Manhattan properties with 23 residential units. Lagfin is the controlling shareholder of spirits producer the Campari Group. The Lagfin…
Sachs Companies through the entity 155 East Property Owner LLC as borrower signed a refi loan with lender 3650 REIT through the entity 3650 Real Estate Investment Trust 2 LLC valued at $50.5 million for two properties with 161 residential units including the 56-unit office building (O6) at 155 East 55th Street in Midtown East, Manhattan and 105-unit residential elevator building (D6) at 210 East…
George Huang through the entity G&T Consulting Company Spe, LLC as borrower signed a refi loan with lender Greystone & Co. through the entity Greystone Select Company II LLC valued at $31 million for the retail building (K6) at 1580 Bruckner Boulevard in Soundview, Bronx. The deal closed on July 9, 2024 and was recorded on July 18, 2024. The prior lender was Flagstar Bank…
Borough Developers through the entity 448 P LLC paid $4.8 million to Eliezer Meisels through the entity 446-448 Park Ave LLC for a development site at 446 and 448 Park Avenue in Bedford Stuyvesant, Brooklyn. On these lots, there is a new building project for a seven-unit, 9,702 square-foot R-2 building submitted by Black Steel Developers and filed by Yoel Horowitz with plans filed October…
Eckstrom NYC through the entity 29 Willow LLC paid $8.2 million to the entity Percy Management, Inc. for the 10-unit residential walkup building (C1) at 29 Willow Street in Brooklyn Heights, Brooklyn. This was Eckstrom NYC’s 18th purchase totaling more than $90 million over the past two years. The deal closed on June 27, 2024 and was recorded on July 18, 2024. The property has…
The Cayre family’s Midtown Equities and Albir Allahham, the owner of Reserve Cut steakhouse, through the entity AL 40 Broad Realty LLC paid $18 million to Zev Marmurstein through the entity 40 Broad Associates No. 1 LLC for three retail condos at 40 Broad Street in Financial District, Manhattan. Reserve Cut is located at 40 Broad Street. The deal closed on July 8, 2024 and…
Hawkins Way Capital through the entity 20th Street Owner, LLC paid $30 million to The New School for the dormitory condominium at 300 West 20th Street in Chelsea, Manhattan. The deal closed on July 1, 2024 and was recorded on July 18, 2024. The property has 31,363 square feet of built space according to a PincusCo analysis of city data. The sale price per built…
South Korea-based Bando Construction through the entity Bando Geny 2 LLC paid $99.2 million to Sherwood Equities through the entity Sherwood 48 Associates for the retail condo at 2 Times Square in Times Square, Manhattan. The deal closed on July 15, 2024 and was recorded on July 18, 2024. The property has 31,365 square feet of built space according to a PincusCo analysis of city…
Qi Gui Zheng and Liuyun Lin through the entity 67 & 18 Associates LLC paid $6 million to the Lam Group through the entity Perfect Jsk 6701 18 Ave LLC for the retail building (K1) at 6701 18th Avenue in Bensonhurst, Brooklyn. The deal closed on July 2, 2024 and was recorded on July 17, 2024. The property has 8,450 square feet of built space…
Aleksander Lakaj through the entity 4119 Third LLC paid $7.5 million to affiliates of Abraham Strulovitch through the entity Hinde Development, LLC for the office building (O7) at 4133 3rd Avenue in Tremont, Bronx, industrial building (G7) at 4121 3rd Avenue in Tremont, Bronx, and development building (V1) on 3rd Avenue in Tremont, Bronx. The deal closed on July 1, 2024 and was recorded on…
Blackstone Group through its loan subservicer Rialto Capital Advisors alleged in two related court filings this week that loans with a combined original principal totaling $140 million and secured by the McGraw-Hill Building at 330 West 42nd Street in Hell’s Kitchen, Manhattan, were in default. Blackstone acquired both loan when it purchased a loan portfolio of the shuttered Signature Bank. The two cases were filed…
Harbor Group International filed a $52.5 million pre-foreclosure action at the newly constructed 143-unit Astoria mixed-use rental building called the Astor at 36-20 Steinway Street. The lender, which is also a major residential property owner, alleges in the complaint that the loan originated in 2021 by the Harbor Group affiliate HGI Commercial Funding I LLC, went into default as of October 1, 2023, because the…
