Daniel Lage through the entity Prospes Management Corp. paid $5 million for the vacant site (V1) at 5200 1st Avenue in Sunset Park, Brooklyn. The property was involved in a state tax foreclosure and a Florida bankruptcy case. The sale was through the state tax foreclosure. The former owner was John A. Luhrs. The deal closed on May 31, 2024 and was recorded on June…
Mordechai Piller through the entity Lm139 LLC paid $5.8 million to Janet Rush through the entity 139-58th St LLC for the industrial building (F4) at 139 58th Street in Sunset Park, Brooklyn. The deal closed on May 23, 2024 and was recorded on June 7, 2024. The property has 14,698 square feet of built space and 7,741 square feet of additional air rights for a…
Douglaston Development paid $124.5 million to the 97-year-old company Valeray Real Estate for two buildings in Carnegie Hill, including 175 East 82nd Street, that will be the site of a 72-unit high rise tower. The purchase was in two transactions. In the first, Douglaston Development through the entity East 82 Owner LLC paid $114.5 million to Valeray Real Estate through the entity 170 East 83rd…
The administrative agent and the servicer for the bondholders of the securitized trust Series 2020-522F filed a $224 million pre-foreclosure at RFR Holding’s nine office condominium units that make up the office portion of the retail and office building at 522 Fifth Avenue in Midtown West, Manhattan. The complaint alleges the $224 million originally provided by Credit Suisse’s Column Financial on August 27, 2020, is…
Artimus through the entity 1441 Owner LLC as borrower signed a new construction loan with lender Valley National Bank valued at $210 million for the 490-unit development building (V1) at 1440 Amsterdam Avenue in Harlem, Manhattan. On the lot, there is a new building project for a 490-unit residential (R-2) building submitted by Grid Group and filed by Yiannes Einhorn with plans filed December 17,…
Clipper Equity through the entity Waterview Developer, LLC as borrower signed a refinance of a senior loan with lender JPMorgan Chase valued at $330 million for the 720-unit residential elevator building (D6) at 77 Commercial Street in Greenpoint, Brooklyn. In addition, Clipper Equity borrowed $100 million in a mezzanine loan from JPMorgan Chase, for a total of $430 million. The deal closed on May 10,…
Gibralter Management through the entity 494 Audubon Avenue LLC paid $2.9 million to James O. Vance through the entity Russley Co., Inc.. for the 25-unit residential walkup building (C7) at 494 Audubon Avenue in Washington Heights, Manhattan. The buyer The PincusCo database currently indicates that Gibralter Management owned at least 10 commercial properties with 112 residential units in New York City with 98,985 square feet…
Chaskel Landau through the entity 144 West LLC paid $9.3 million to Caspi Development through the entity Fhrb LLC for the 22-unit residential elevator building (D6) at 144 West Street in Greenpoint, Brooklyn. Landau bought the ground lease position. The fee is owned by Point Equities Realty. The deal closed on May 14, 2024 and was recorded on June 6, 2024. The property has 24,015…
The nonprofit Asian Americans for Equality through the entity 345 Ovington Avenue Housing Development Fund Corp. paid $10.3 million through a bankruptcy court related to the entity 345 Ovington LLC, for the 25-unit residential elevator building (D1) at 345 Ovington Avenue in Bay Ridge, Brooklyn. The former developer had plan to sell the units as condominiums. The deal closed on May 23, 2024 and was…
Jacob Landau through the entity 50 Sackman LLC paid $11.5 million to Anthony J. Caggiano through the entity Kinsella Realty Inc for the development site at 2246 Fulton Street also known as 50 Sackman Street, in Cypress Hills, Brooklyn. On the lot, there is one active new building construction project for a 123-unit, 83,976 square-foot residential (R-2) building. The project was submitted by TOT Developers…
Highgate Hotels through the entity 700 Eighth Owner LP acquired the ground leased fee position of the Row NYC hotel at 700 Eighth Avenue in Hell’s Kitchen, Manhattan, from David Werner Real Estate Investments through the entity 700 Milford Holdings LLC, in a deal valued at $275 million. At the same time, Highgate assumed a $275 million loan, so it appears there was no additional…
An entity affiliated with Michael Bloomberg through the entity 980 Madison Avenue Holdings LLC paid $560 million to Aby Rosen’s RFR Holding through the entity 980 Madison Owner LLC for the office building (O5) at 980 Madison Avenue in Lenox Hill, Manhattan. The deal closed on June 5, 2024 and was recorded on June 6, 2024. The property has 118,635 square feet of built space…
Maguire Capital Group through the entity Maguire Lex LLC bought a note from G4 Capital Partners with an original principal of $7.5 million secured by Skyland Management’s stalled development of a 48-key hotel at 120-124 Lexington Avenue in NoMad, Manhattan. The sale closed on June 4, 2024, and has not been recorded in public records as of publication. The loan covers three tax lots, with…
Diamond National Investments through the entity 1010 Claremont Village LLC as borrower signed a new construction loan with lender Popular Bank through the entity Popular Bank valued at $63 million for the 218 unit development at 1010 Washington Avenue in Morrisania, Bronx. On these lots, there is one active new building construction project for a 218-unit residential (R-2) building. The project was submitted by Joel…
Namdar Realty Group, Klosed Properties, and partners including Silber Investment Properties through the entity 117 W57 Bh LLC and others as borrowers signed a refi loan with a lender in care of Israel-based Reznik Paz Nevo Trusts valued at $147.1 million for 20 properties with 267 residential units including the 59-unit residential elevator building (D1) at 312 Manhattan Avenue in Harlem, Manhattan, 32-unit hotel building…
BWH Group through the entity 2510 Cia LLC paid $2.8 million to Glenn L. Gubner through the entity 2510/18 C.I.A. L.L.C. for the industrial building (GU) at 2510 Coney Island Avenue in Sheepshead Bay, Brooklyn. The built sale price per foot of $1,866 indicates it is likely a development site. The deal closed on June 3, 2024 and was recorded on June 5, 2024. The…
Rockrose Development through the entity Joralemon Retail L.L.C. paid $3 million to the entity 186 Remsen Street LLC for the retail and office building (O8) at 193 Joralemon Street in Brooklyn Heights, Brooklyn. The deal closed on May 29, 2024 and was recorded on June 5, 2024. The property has 4,550 square feet of built space. The sale price per built square foot is $659….
Eckstrom NYC through the entity Eckstrom Clinton LLC paid $6.4 million to the estate of Josephine Caminiti for the five-unit residential walkup building (C2) at 323 Clinton Street in Cobble Hill, Brooklyn. The deal closed on May 17, 2024 and was recorded on June 5, 2024. The property has 6,000 square feet of built space and 844 square feet of additional air rights for a…
Buyers paid $10.3 million to the Weprin family through the entity Olim Associates LLC for the seven-unit residential walkup building (C1) at 5 East 10th Street in Greenwich Village, Manhattan. The deal closed on May 30, 2024 and was recorded on June 5, 2024. The property has 7,489 square feet of built space and 487 square feet of additional air rights for a total buildable…
Kimchung Chan through the entity Lc 78 Street Realty LLC paid $3.3 million for the 16-unit residential walkup building (C1) at 1624 78th Street in Bensonhurst, Brooklyn. The deal closed on May 22, 2024 and was recorded on May 31, 2024. The property has 16,350 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot…
