Lender A10 Capital filed a complaint seeking to restrain borrower Serabjit Singh Malhotra from selling or transferring assets in order for the lender to collect on a $31.8 million judgment. Malhotra counters in court filings that he is willing to settle but the lender’s terms are too onerous. A10 Capital states it holds an entirely unsatisfied $31.8 million judgment from 2022 against Malhotra (Brooklyn 521370/2021)…
The senior housing and services nonprofit, the New York Foundation for Senior Citizens is seeking a ruling from a state Supreme Court judge to force a long-vacant Walter & Samuels’ building at the corner of Second Avenue and 96th Street in Yorkville, to take down scaffolding that has been up for years. The New York Foundation for Senior Citizens owns the 26-story 1850 Second Avenue…
Carlyle Group through the entity SS NYC 121st Street, L.L.C. paid $50.3 million to Equity Resource Investments and SNL Storage through the entity SNL XVIII, LLC for the storage building at 87-16 121st Street in Richmond Hill, Queens. This is the fourth of four storage buildings Carlyle Group purchased from Equity Resource Investments and SNL Storage, in a deal totaling $110.4 million. The other properties…
Dora C. Gliagias and Christos Gliagias through the entity Gnva Realty LLC paid $7.2 million to Michael Virgilio through the entity Virgilio Associates LLC for the mixed-use building (K2) at 36-41 Bell Boulevard in Bayside, Queens. The deal closed on April 11, 2024 and was recorded on April 25, 2024. The property has 12,250 square feet of built space according to a PincusCo analysis of…
Poise Property Group, led by Val Katayev and Daniel Kaykov through the entity 55 Eckford St LLC paid $7.2 million at a foreclosure auction for the stalled 26-unit project at 55 Eckford Street in Greenpoint, Brooklyn. The former owners were Xi Hui Wu and Chaim Miller, according to property and court records. A prior owner, David Schwartz of 55 Eckford Street, Brooklyn LLC, submitted a…
Partners DH Property Holdings, Bridge Industrial and Oak Capital Partners through their entity SIP Holdings Venture, sold a $13.5 million parcel at 73 20th Street in Sunset Park with a new building to a food importer, and paid that same importer $11.5 million for 60 20th Street, in a long-planned move to consolidate SIP’s large, multi-lot development site. Referring to the illustration below, SIP Holdings…
The Gural family’s GFP Real Estate and TPG Real Estate Partners through the entity Broadway 2024 Propco, LLC paid $147.5 million to DWS Group through the entity Rar2-222 Broadway Owner SPE, LLC for the office building (O4) at 222 Broadway in the Financial District, Manhattan. The deal closed on April 18, 2024 and was recorded on April 25, 2024. The property has 756,138 square feet…
The date for a foreclosure auction to sell Madison Realty Capital’s landmarked retail condominium unit at the base of the residential condo conversion One Hanson Place is set for May 29, according to marketing materials from the brokers. Madison Realty Capital and private equity firm Siguler Guff & Company, through the entity OHP Retail Owner LLC bought the unit in 2015 for $18 million. They…
Jyotiben Panwala through the entity 33rd St Bpm Brooklyn LLC as borrower signed a refi loan with lender Dime Community Bank valued at $8 million for the hotel building (H3) at 137 to 147 33rd Street in Greenwood Heights, Brooklyn. The deal closed on March 27, 2024 and was recorded on April 24, 2024. The prior lender was Dime Community Bank which held debt that…
Zehao Fang and Simon Hung through the entity FH 2Bro Builder Corp. as borrower signed a new construction loan with lender Ponce Bank valued at $10 million for the 47-unit development at 37-42 30th Street in Long Island City, Queens. On the lot, there is one active new building construction project for a 47-unit, 39,427 square-foot residential (R-2) building. The project was submitted by Zehao…
The Gindi family’s ASG Equities through the entity 502/12 86th Street LLC as borrower signed a renovation construction loan with lender Oceanview Life and Annuity Company valued at $29 million for the retail building (K4) at 8613 5th Avenue in Bay Ridge, Brooklyn. The deal closed on April 18, 2024 and was recorded on April 24, 2024. The prior lender was North American Company for…
The entity Triple 6 On Grand LLC paid $2.2 million to Bendicta Cordero Aloyo for the six-unit mixed-use building (S5) at 666 Grand Street in Williamsburg, Brooklyn. The deal closed on April 16, 2024 and was recorded on April 24, 2024. The property has 5,500 square feet of built space and 2,005 square feet of additional air rights for a total buildable of 7,496 square…
Joel Freund paid $2.5 million to Sharon Hakmon through the entity 3109 Buhre Ave Corp. for the stalled, 18-unit development site at 3109 Buhre Avenue in Pelham Bay, the Bronx, according to the brokers on the deal. The sale went into contract on December 18, 2023, and closed on April 18, 2024. The sale has not yet been recorded in city records. The sale was…
Peak Capital Advisors through the entity 51 5th Owner LLC paid $4.3 million to Wilfredo Garrastegui and Gladys Garrastegui for the six-unit mixed-use building (S5) at 51 5th Avenue in Park Slope, Brooklyn. Peak Capital Advisors is one of the city’s most active buyers of multifamily properties. The deal closed on April 22, 2024 and was recorded on April 24, 2024. The property has 6,316…
Lam Group through the entity 233 West 125th Street Danforth, LLC paid $19.2 million to Harlem Community Development Corporation for four commercial condominium units for retail, hotel, residential and garage, in the new construction building at 233 West 125th Street in Harlem, Manhattan. The deal closed on April 12, 2024 and was recorded on April 24, 2024. The signatory for Harlem Community Development Corporation was…
Carlyle Group through the entity Ss Nyc Eny, L.L.C. paid $20 million to Equity Resource Investments and SNL Storage through the entity Snl Orix Eny Avenue, LLC for the industrial building (E7) at 1690-1696 East New York Avenue in Brownsville, Brooklyn. The deal closed on April 12, 2024 and was recorded on April 24, 2024. The property has 61,951 square feet of built space according…
Yellowstone Real Estate Investments through the entity YS 1740 Broadway Owner LLC paid $185.9 million to Blackstone Group through the entity Bre 1740 Broadway LLC for the office building (O4) at 1740 Broadway in Midtown West, Manhattan. The deal closed on April 19, 2024 and was recorded on April 24, 2024. The property has 519,600 square feet of built space according to a PincusCo analysis…
GDC Properties through the entity Peregrine Funding, LLC as borrower signed a refi loan with lender Webster Bank valued at $12.5 million for the retail and residential building at 625 Driggs Avenue in Williamsburg, Brooklyn. The deal closed on March 27, 2024 and was recorded on April 23, 2024. The prior lender was KeyBank which held debt that had an original loan amount of $11.5…
Lightstone Group through the entity Bedford Avenue Associates LLC as borrower signed a refi loan with lender Western Alliance Bank valued at $86 million for the hotel building (H2) at 361 Bedford Avenue in Williamsburg, Brooklyn, occupied by Marriott International’s Moxy Brooklyn Williamsburg. The deal closed on April 19, 2024 and was recorded on April 23, 2024. The prior lender was G4 Capital Partners which…
Penn South Capital through the entity Vrh 430 E 13 LLC paid $3.4 million to Bernice Harris through the entity 430 East 13th LLC for the 15-unit residential walkup building (C1) at 430 East 13th Street in East Village, Manhattan. The deal closed on April 18, 2024 and was recorded on April 23, 2024. The property has 6,364 square feet of built space and 3,655…
