Abraham Brach through the entity 58 Gerry St LLC as borrower signed a loan agreement with lender BridgeCity Capital through the entity Bridgecity Capital Qob LLC valued at $20 million for 18 parcels at 66 Gerry Street and 25 Bartlett Street in East Williamsburg. The deal closed on February 17, 2021 and was recorded on April 15, 2021. BridgeCity refinanced a $20 million loan Madison…
Developer Rafi Manor, who between 2015 and 2018 submitted plans for 20 condominium projects in Brooklyn with 134 units, filed for chapter 11 bankruptcy protection yesterday in Brooklyn’s Eastern District, claiming assets of just $315,000 and liabilities above $6.3 million. Manor was identified as a sponsor on those 20 projects which had a total sellout of $140 million, according to a PincusCo analysis of Attorney…
All Year Management is in contract to sell a small group of buildings including 95 Walworth Street for $12.4 million, according to a filing on the Tel Aviv Stock Exchange last month. All Year, founded by Yoel Goldman, is under financial strain and is negotiating with investors seeking to buy large blocks of assets. Many of All Year’s portfolio is tied to debt issued on…
Fred Guindi through the entity Vhf 34th LLC paid Steve Russo’s Russo 34 Realty, LLC $4.5 million for office condo unit 1 at 15 West 34th Street in the Garment District. The deal closed on March 23, 2021 and was recorded on April 14, 2021. The transaction consists of 1 parcel, including the tax class commercial condo (CC). The property is 5,191 square feet. The…
Carter Management through the entity Lazarus 5, LLC as borrower signed a loan agreement with lender Raith Capital Partners, LLC valued at $33 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 14 residential units at 305 East 61st Street in Lenox Hill. The deal closed on March 19, 2021 and was recorded on April 14, 2021. The property…
Ciampa Organization refinanced $33.2 million with Capital One for 255 units in Queens in two separate transactions. In the first, Ciampa Organization through the entity Ciampa Bell LLC as borrower signed a loan agreement with lender Capital One, National Association valued at $22.5 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 152 residential units at 16-70…
Gabrielli Truck Sales through the entity Gabrielli Jfk Associates LLC as borrower signed a loan agreement with lender HSBC Bank valued at $10.5 million for 1 parcel, including the tax class garage with showroom (G8) at 153-20 South Conduit Avenue in Queens. The deal closed on August 24, 2020 and was recorded on April 14, 2021. The property contains a total of 61,880 square feet…
Shawn Khodadadian through the entity 147 East 26th Street LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $8.5 million for 1 parcel, including the tax class professional-type office building (O7) at 147 East 26th Street in Flatiron. The deal closed on March 17, 2021 and was recorded on April 14, 2021. The property contains a total of 14,814 square…
Courts roundup for Tuesday, April 13, 2021: There were no New York City real estate bankruptcies. There was one commercial foreclosure, detailed below. Please note that court filings are the positions of each party and are not necessarily accurate or complete. $21.3M pre-foreclosure at Joseph Banda, Cheskie Weisz Bed-Stuy rental: The trustees of a securitized $21.33 million loan given to Cheskie Weisz and Joseph Banda…
Morris Sarway through the entity 647 West 169th LLC paid Alison Weinsweig’s 647 West 169Th Street L.L.C. $3.1 million for 647 West 169th Street in Washington Heights. The deal closed on March 18, 2021 and was recorded on April 13, 2021. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 21 residential units. The property…
Stephen Schor borrowed $44.3 million from New York Community Bank for three buildings with a total of 241 residential units in Brooklyn in three separate transactions. In the first, Stephen Schor through the entity 699-711 Bklyn Realty LLC as borrower signed a loan agreement with lender New York Community Bank valued at $18.8 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores)…
L+M Development Partners and Camber Property Group through the entity Cross Bronx Preservation LLC as borrower signed a loan agreement with lender New York City Housing Development Corporation valued at $40.5 million for 2 parcels, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 722 residential units at 1805-1811 Crotona Avenue and 1860-1870 Schieffelin Avenue in Claremont, the Bronx. The deal…
Chaim Simkowitz through the entity 2045 Linden LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $8.5 million for 1 parcel, including the tax class public elementary junior and senior high schools (W1) at 2045 Linden Boulevard in East New York. The deal closed on March 25, 2021 and was recorded on April 13, 2021. The property contains a total…
Gac Haxhari through the entity G & E Walton Developers LLC as borrower signed a new construction loan agreement with lender Northeast Community Bank valued at $6.7 million for the development of a project with 43 residential units at 2026 Walton Avenue in Tremont. The deal closed on March 18, 2021 and was recorded on April 13, 2021. The property contains a total of 30,810…
Courts roundup for Monday April 12, 2021: There was one New York City real estate bankruptcy with assets valued at $6.3 million, and one small commercial foreclosure. 3 Greenpoint rentals valued at $6.3M put in bankruptcy: Tal August through his BK4 LLC as the owner of three adjacent Greenpoint rentals, filed for chapter 11 bankruptcy protection citing real estate assets of $6.3 million and liabilities…
Sam Applegrad through the entity 151 Estates LLC paid Steven Satz’s 151 Realty LLC $2.4 million for 151 Bruckner Boulevard in Mott Haven. The deal closed on March 24, 2021 and was recorded on April 12, 2021. The transaction consists of 1 parcel, including the tax class multifamily, old law tenements (C4) and containing 13 residential units. The property is 14,100 square feet. The parcel(s)…
Greenbrook Partners and the Carlyle Group through the entity Greenbrook THR Owner, L.L.C. as borrower signed a loan agreement with lender Invesco Real Estate through the entity Invesco CMI Investments CB Seller, LLC valued at $65.6 million for 11 parcels, including the tax class multifamily, five to six families (C2) and containing at least 37 residential units at 310 Menahan Street, 312 Menahan Street, 1236…
Nathan Berman’s Metro Loft Management through the entity 135 William Street Associates, LLC as borrower signed a loan agreement with lender Valley National Bank valued at $20 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 30 residential units at 135 William Street in Financial District. The deal closed on March 31, 2021 and was recorded on April 12,…
Kokot Realty Enterprises through the entity Dos Passos LLC as borrower signed a loan agreement with lender Citigroup through Citi Real Estate Funding Inc. valued at $15 million for 7 parcels, including the tax class multifamily, artists in residence (D2) and containing 128 residential units at 217 East 22nd Street, 239 West 15th Street, 106 East 7th Street, 638 East 14th Street, 640 East 14th…
Samuel Z. Plotkin through the entity 630 West 52Nd LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $10.1 million for 1 parcel, including the tax class warehouse or self storage (E7) at 631 West 51st Street in Clinton. The deal closed on March 24, 2021 and was recorded on April 12, 2021. The property contains a total of 36,184…