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…
Eckstrom NYC through the entity 285 Pacific LLC paid $3.9 million for the four-unit building (C3) at 285 Pacific Street in Boerum Hill, Brooklyn. The deal closed on May 15, 2024 and was recorded on May 31, 2024. The property has 3,800 square feet of built space and 697 square feet of additional air rights for a total buildable of 4,500 square feet according to…
Watermark Capital Group through the entity Three Thirty M LLC paid $5.5 million to Israel Perlmutter through the entity Melrose Deals, Inc. for the industrial building (F4) at 330 Melrose Street in Bushwick, Brooklyn. The deal closed on May 15, 2024 and was recorded on May 31, 2024. The property has 13,500 square feet of built space according to a PincusCo analysis of city data….
Nack Gyeun Mun through the entity 51-55 West 35th Street Realty Inc. paid $16.5 million to Diana Jong through the entity Ding Sheng Realty Corp. for the 24-unit residential walkup building (C7) at 51-55 West 35th Street in the Garment District, Manhattan. The deal closed on May 30, 2024 and was recorded on June 4, 2024. The property has 36,109 square feet of built space…
Slate Property Group through the entity Coyle Street Owner LLC paid $24.4 million to Robert Fischman of Berkoff Supply through the entity Coyle Properties LLC for the mixed-use building (K1) at 2134 Coyle Street in Sheepshead Bay, Brooklyn and property at 2114 Coyle Street in Sheepshead Bay, Brooklyn. The deal closed on May 23, 2024 and was recorded on June 4, 2024. The two properties…
Watermark Capital Group through the entity 175 Pearl Street LLC paid $66.5 million to Cannon Hill Capital Partners through the entity Maple 3p KRL 175 Pearl Owner, LLC for the office building (O6) at 175 Pearl Street in Downtown Brooklyn, Brooklyn. The Commercial Observer reported the buyer intends to convert the office building to residential. The deal closed on May 29, 2024 and was recorded…
Freddie Mac and Sabal Capital Partners, on behalf of the securitized bondholders of Series 2019-SB63, filed 12 additional pre-foreclosure actions against Mack Real Estate Group totaling $54.7 million on East Harlem properties formerly owned by Emerald Equity Group. The new cases were filed on June 3 and June 4 in New York State Supreme Court. The new filings included the properties 1575 Lexington Avenue, 1571…
W Financial REIT filed a $16.75 million pre-foreclosure action yesterday against Paramdeep Singh and other alleged guarantors who own the hotel building at 129 West 46th Street in Midtown West, Manhattan. The lender filed the complaint in New York State Supreme Court. Case LINK According to the complaint, “The Borrower has defaulted under the Loan Documents by failing to make payments of amounts due under…
A bankruptcy restructuring specialist placed the entity that owns unsold residential and commercial condominium units at Tessler Developments’ mixed-use Midtown South tower at 172 Madison Avenue, at the corner of 33rd Street, into chapter 11 bankruptcy protection yesterday. The petition notes assets of $100.6 million and liabilities of $66.5 million. Case 24-22500-pb LINK Chapter 11 bankruptcy pdf This bankruptcy was filed the day of a…
Fairstead through the entity Park 79 Preservation Lp as borrower signed a refi loan with lender Merchants Capital through the entity Merchants Capital Corp. valued at $38.8 million for the affordable rental building (H3) at 117 West 79th Street in Upper West Side, Manhattan. The deal closed on May 23, 2024 and was recorded on June 3, 2024. The prior lender was Freddie Mac which…
UPDATED 12:10 p.m., June 5, 2024: Rabsky Group through the entity President Union LLC as borrower signed a new construction loan with lender G4 Capital Partners through the entity G4 18231, LLC valued at $228 million for projects at 395 Carroll Street and 313 Bond Street, also known as 325 Bond Street. The total debt is $286 million, the Real Deal reported last month. On…
