Sunil Agarwal through the entity 39th Bayside LLC paid $5.9 million for the development site at 214-43 39th Avenue in Bayside, Queens. The former owner was to Faizulmunir Kazi who lost the building through a foreclosure process, under index number 718839/2019. The deal closed on July 8, 2024 and was recorded on July 23, 2024. The sale price per buildable square foot is $429 per…
The entity 7 Knickerbocker LLC paid $7 million to the entity Worthless Bricks LLC for the industrial building (E1) at 7 Knickerbocker Avenue in East Williamsburg, Brooklyn. The building is home to the arts organization Worthless Studios. It was unclear what impact the sale would have on the organization. The buyer and seller did not immediately respond to a request for comment. The property is…
Peter Hungerford’s PH Realty Capital and partner Rockledge paid $27.72 million to Sentinel Real Estate for four residential elevator buildings in Brighton Beach and Crown Heights, Brooklyn in four separate transactions. This is the second group of sales recorded between the parties, which is part of a 24-building, $179 million transaction. In the first of these newly recorded sales, PH Realty Capital and Rockledge through…
Joel Wiener’s Pinnacle Group sold an approximately 30 percent interest in the 331-unit rental building at 111 Worth Street in Manhattan’s Civic Center for $48.5 million to Brookfield Properties, according to documents filed with the Tel Aviv Stock Exchange. Pinnacle now holds no interest in the property. The sale closed on May 1, 2024, but has not yet been recorded in city records. As a…
LeFrak through the entity 180 Broadway Property LLC as borrower signed a refi loan with lender PGIM Real Estate through the entity Pgim Uscdf Scsp LP valued at $75.5 million for the retail condominium unit at 180 Broadway in Financial District, Manhattan. The deal closed on July 16, 2024 and was recorded on July 22, 2024. The prior lender was Northwestern Mutual Life Insurance which…
Madison Realty Capital through the entity 644 East 14th Street Owner LLC as borrower signed a new construction loan with lender Apollo Global Management through the entity Athene Annuity And Life Company valued at $102 million for the 200-unit residential development project at 644 East 14th Street in Alphabet City, Manhattan. Crain’s reported the total finance package was $130 million, and of that $102 was…
Samaritan Daytop Village through the entity Sdf Hb Transitional Housing Development Fund as borrower signed a new construction loan with lender NYC Housing Development Corporation, NYS Homeless Housing And Assistance Corporation, and Citibank valued at $270 million for the 422-unit development at 1387 University Avenue in Highbridge, Bronx. On the tax block, there was one new building construction project filed totaling 333,508 square feet. It…
REDA Holdings through the entity REDA Classon LLC paid $3.7 million to Related Companies through the entity Nysandy8 Brooklyn 2 LLC for the eight-unit residential walkup building (C1) at 788 Classon Avenue in Crown Heights, Brooklyn. The deal closed on June 25, 2024 and was recorded on July 22, 2024. The property has 5,850 square feet of built space and 2,925 square feet of additional…
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…
