Hercules Argyriou of Mega Contracting Group through the entity 521 Tremont MM LLC paid $8.2 million to the Guarascio family through the entity Matrix Tremont, Inc. for the mixed-use building (K4) at 521 East Tremont Avenue, the retail building (K1) at 513 East Tremont Avenue, and the industrial building (G7) at 1904 Bathgate Avenue in Tremont, Bronx. On these lots, there is one active new…
Tennessee-based SRM Concrete through the entity Hollingshead Materials LLC paid $12.5 million to Almar Supplies through the entity New Ditmas Realty LLC for the industrial building (F2) at 9814 Ditmas Avenue in Brownsville, Brooklyn. The deal closed on April 5, 2024 and was recorded on May 3, 2024. The property has 9,435 square feet of built space and 45,272 square feet of additional air rights…
Maguire Capital Group through the entity Maguire Stone LLC bought a note with an original principal of $9 million from BEB Capital secured by Alicia Harper, Philip Harper, and Harold Harper’s four-unit mixed-use building (S9) at 53 Stone Street and the three-unit mixed-use building (S3) at 55 Stone Street in Financial District, Manhattan. The deal closed on April 8, 2024 and was recorded on May…
Joel Wieder through the entity Gw Universe LLC as borrower signed a refi loan with lender Valley National Bank valued at $17.2 million for the 47-unit development at 1892-1896 University Avenue in Morris Heights, Bronx. On the lot, there is one active new building construction project for a 47-unit, 27,740 square-foot R-2 building. The project was submitted by Chaim Schwartz with plans filed June 10,…
Sam Rubin through the entity 1351 Jerome Holdings LLC as borrower signed a new construction loan with lender Popular Bank through the entity Popular Bank valued at $51 million for the industrial building (G7) at 1351 Jerome Avenue in Mt Eden, Bronx. On the lot, there is one active new building construction project for a 131-unit, 89,176 square-foot R-2 building. The project was submitted by…
Jie Chen through the entity Leo International NY, LLC paid $2.4 million to Hon Y. Leung through the entity 5410 Slope Holding, LLC for the industrial building (E1) at 5410 3rd Avenue in Sunset Park, Brooklyn. The deal closed on April 16, 2024 and was recorded on May 2, 2024. The property has 7,160 square feet of built space according to a PincusCo analysis of…
Ben Asher and Farzad Asher through the entity Tbf Group Bayard LLC paid $3.5 million to Leslie Leong through the entity 104 Bayard St. Corp. for the 19-unit residential walkup building (C7) at 104 Bayard Street in Chinatown, Manhattan. The deal closed on April 10, 2024 and was recorded on May 2, 2024. The property has 9,250 square feet of built space according to a…
Yitzchok Schwartz through the entity Franklin Plaza II LLC paid $64 million to Isaac Hager and Daryl Hagler through the entity 960 Franklin LLC for the development site composed of three tax lots with the addresses 122 Montgomery Street and 960 Franklin Avenue in Crown Heights, Brooklyn. This is a flip. Isaac Hager and Daryl Hagler bought the property in November 2022 for $42.4 million….
The lender G4 Capital Partners through the entity G4 18254, LLC acquired the office building (O6) at 76 8th Avenue in the West Village, Manhattan, from former borrowers and developers Sang Lee and Chun Lee through the entity 76 8th Ave Holdings LLC, in a transaction valued at $44.1 million. In March 2019, G4 Capital Partners provided a $39.6 million acquisition and construction loan to…
An all-woman Brooklyn Masonic Lodge is seeking New York State court approval to sell a vacant parcel at 441 Willoughby Avenue in Bedford Stuyvesant to developer Tomer Erlich for $4.3 million, but the sale has been delayed because the Attorney General has alleged the property is worth more, and the property has been the subject of a public dispute over the demolition of the 19th…
Hee Nam Bae through the entity City Lights Properties LLC paid $5.5 million to Jason Maalouly through the entity Maalouly Realty Corp. for the retail building (K2) at 2148 3rd Avenue in East Harlem, Manhattan and development building (V1) at 183 East 117th Street in East Harlem, Manhattan. The deal closed on April 25, 2024 and was recorded on May 1, 2024. The two properties…
Ayush Kapahi and Michael Froning’s SKF Development through the entity 6014 BCD Realty LLC as beneficial owner acquired from Atlantis Management Group through the entity 3083 Webster Realty LLC the development site at 3083 Webster Avenue in Norwood, Bronx, in a $7 million transaction. The nominal buyer was 3083 Webster Avenue Housing Development Fund Corp. The deal closed on April 25, 2024 and was recorded…
Li Fang Ruan through the entity Yang Creations LLC paid $9.6 million to a group of tenant-in-common owners including Cjc Cotard LLC for the industrial building (E1) at 20 Anthony Street in East Williamsburg, Brooklyn, specialty building (Z9) at 30 Anthony Street in East Williamsburg, Brooklyn, and specialty building (Z9) at 509 Vandervoort Avenue in East Williamsburg, Brooklyn. The prior signatory for the seller entities…
Bungalow Projects and Bain Capital Real Estate through the entity Nym 145 Wolcott, LLC paid $35.1 million to Four Points through the entity Red Hook Jv LLC for the industrial building (G2) at 63-79 Ferris Street in Red Hook, Brooklyn, industrial building (G7) at 186-196 Conover Street in Red Hook, Brooklyn, and industrial building (G7) at 184 Conover Street in Red Hook, Brooklyn. The buyers…
L+M Development Partners through the entity KV Owner LLC paid Stellar Management through the entity Kvi Holdings LLC $84.6 million for control of the 1590-unit historic affordable housing development built in 1934 known as Knickerbocker Village, an elevator complex (D6) at 10-20 Monroe Street in Two Bridges, Manhattan. The deal closed on April 25, 2024 and was recorded on May 1, 2024. The property has…
UPDATED, 6:15 a.m., May 2, 2024: Principal Real Estate Investors turned over the 311,501-square-foot office building 1370 Sixth Avenue in Midtown West, Manhattan, to Barings, an asset manager and subsidiary of MassMutual Financial Group, in a deed-in-lieu of foreclosure transfer valued at $160.98 million. That figure is $10.98 million more than the amount Principal borrowed from MassMutual in 2014. MassMutual through its Massachusetts Life Insurance…
David Lifschitz’s Gehr Group through the entity Times Square Hospitality II, LLC as borrower signed a refi with lender MidFirst Bank valued at $18.2 million for the hotel building (H2) at 330 West 40th Street in Garment District, Manhattan. The hotel operating in the building is the Fairfield Inn & Suites by Marriott New York Manhattan/Times Square. This Gehr Group entity controls the property though…
Heatherwood Luxury Rentals through the entity 544 Union DE LLC as borrower signed a refi loan with lender Walker & Dunlop valued at $33.2 million for the 95-unit residential elevator building (D6) at 544 Union Avenue in Williamsburg, Brooklyn. The deal closed on April 26, 2024 and was recorded on April 30, 2024. The prior lender was a securitized entity with the name Series 2015-K43…
United Construction & Development Group through the entity Archer Ave Realty De, LLC as borrower signed a refi loan with lender State Bank of Texas valued at $52.2 million for the hotel building (H2) at 148-22 Archer Avenue in Jamaica, Queens. The deal closed on April 8, 2024 and was recorded on April 30, 2024. The prior lender was Acore Capital which held construction debt…
Carlyle Group through the entity SS NYC 121st Street, L.L.C. (and others) as borrower signed an acquisition loan with lender Prudential Financial through the entity the Prudential Insurance Company of America valued at $83 million for four industrial properties including the industrial building (E7) at 87-16 121st Street in Richmond Hill, Queens, industrial building (E7) at 145 18th Street in Greenwood Heights, Brooklyn, and industrial…
