Sovereign Partners and HudsonPoint Capital paid a total of $378 million for the office and retail building a 575 Fifth Avenue in Midtown East, Manhattan, in two separate transactions. The sellers for the office portion were Beacon Capital Partners and MetLife, and for the retail the seller was only MetLife. MetLife acquired 575 Fifth Avenue in 2005 for $376.3 million and in 2008 structured the…
Howard Ng and Chung Ng through the entity Canton 270 LLC as borrower signed a refi loan with lender Goldman Sachs through the entity Goldman Sachs Bank USA valued at $6.7 million for the 11-unit residential walkup building (C1) at 270 Manhattan Avenue in Williamsburg, Brooklyn. The deal closed on April 21, 2026 and was recorded on April 23, 2026. The prior lender was Emerald…
Alma Realty through the entity 480 St. Marks Ave LLC (and others) as borrower signed a refi loan with lender Zions Bancorporation valued at $83 million for five residential elevator properties with 1,260 residential units including the 159-unit residential elevator building (D5) at 545 Prospect Place in Crown Heights, Brooklyn, 76-unit residential elevator building (D5) at 713 Classon Avenue in Crown Heights, Brooklyn, and 65-unit…
Farhad Bokhour through the entity 235 Pacific LLC as borrower signed a new construction loan with lender Unitas Funding through the entity Unitas Funding LLC valued at $9 million for the six-unit development project at92 Boerum Place, also known as 235-237 Pacific Street in Boerum Hill, Brooklyn. On the lot, there is one active new building construction project, B01188539, for a six-unit, 11,214 square-foot residential…
Pinky Schwartz, through the entity 1925 Grand Concourse NY LLC, signed a contract to acquire the development site located at 1925 Grand Concourse, which has an alternate address of 175 Echo Place, in the Mt Hope section of the Bronx for $8.25 million. The seller is New Covenant Faith and Miracle Arena, Inc., a religious corporation that received formal approval for the all-cash transaction from the…
Barings, the global investment manager and subsidiary of MassMutual, bought approximately 64 former New York City Signature Bank loans with an aggregated original principal of $342 million from Blackstone Group, Rialto Capital Management and Canada Pension Plan Investment Board, according to a PincusCo analysis of New York City property records. These appear to be a subset of a $373.3 million transaction, which likely includes some…
Environmental Services Group through the entity Stavlos Properties LLC paid $2.8 million to Modern Art Foundry through the entity Modern Art Foundry, Inc. for the industrial building (F4) at 18-70 41st Street in Ditmars Steinway, Queens. The expected use is owner-occupied. The deal closed on April 20, 2026 and was recorded on April 22, 2026. The property has 12,400 square feet of built space and…
Sam Sprei through the entity 1509 Pacific Group LLC paid $2.4 million to Sugar Hill Capital Partners through the entity 1509 Pacific Residences, LLC for the eight-unit residential walkup building (C1) at 1509 Pacific Street in Crown Heights, Brooklyn. The expected use is cash flowing. The deal closed on March 25, 2026 and was recorded on April 22, 2026. The property has 6,800 square feet…
Shimshon Grunstein through the entity 442 Commons LLC paid $5 million to the Roman Catholic Church of Saint Paul and Holy Rosary for the specialty building (M1) at 442 East 119th Street and 444 East 119th Street, in East Harlem, Manhattan. The expected use is ground up development. The purchase was in two transactions. On the lot, there is one active new building construction project,…
Chabad Lubavitch Upper East Side paid $4 million to Aryeh Realty through the entity Shesah LLC for the single-family building at 219 East 72nd Street in Lenox Hill, Manhattan. The expected use is owner-occupied. (The building is described as single-family in the transfer records and as a two-unit building in the city’s Department of City Planning records.) The deal closed on April 16, 2026 and…
The prior lender on the property, G4 Capital Partners through the entity 200 Kent I LLC acquired from Tessler Developments and Cornell Realty Management through the entity 206 Kent LLC, the office building (O5) at 206 Kent Avenue in Williamsburg, Brooklyn, in a transfer valued at $65 million. The deal closed on March 30, 2026 and was recorded on April 23, 2026. The property has…
The nonprofit autism treatment services organization A Friendly Face through the entity AFF Little Kids LLC paid $10.2 million to Savo Brothers through the entity 2025 Richmond Avenue LLC for the mixed-use building (K6) at 2025 Richmond Avenue in Willowbrook, Staten Island. The expected use is owner-occupied. The deal closed on March 10, 2026 and was recorded on April 23, 2026. The property has 28,250…
Sterling Town Equities through the entity Underhill Heights LLC as borrower signed a new construction loan with lender Valley National Bank through the entity Valley National Bank valued at $30 million for two industrial properties including the industrial building (G1) at 105 Underhill Avenue in Prospect Heights, Brooklyn and industrial building (G1) at 326 St Marks Avenue in Prospect Heights, Brooklyn. On these lots, there…
CSC Real Estate through the entity 300 East Holdings LLC as borrower signed a rehab construction loan with lender Slate Property Group through the entity Scale 770 2nd Ave Lender LLC valued at $108 million for the property at 300 East 42nd Street in Murray Hill, Manhattan. In August, 2025, Alberto Smeke of CSC Real Estate submitted a major alteration application for the conversion of…
Michuel Klein through the entity Beach 21 Holdings LLC paid $2.1 million to Stan Kotlyar through the entity Kotlar Realty LLC for the retail building (K4) at 10-27 Beach 20th Street in Far Rockaway, Queens. The expected use is ground up development. On the lot, there is one active new building construction project, Q01371758, for a 46-unit, 25,020 square-foot residential (R-2) building. The project was…
An affiliate of lender ACRES Capital filed a lawsuit on April 22, 2026, alleging AJ Capital Partners defaulted on a $76.5 million loan secured by a now-terminated leasehold covering, 22 North Loop Road, the Graduate by Hilton New York hotel building on Roosevelt Island. The action, brought by AMF Levered II, LLC and ACRES Real Estate SPE 10, LLC, seeks more than $79 million in outstanding…
Agree Realty through the entity Agree Limited Partnership paid $10 million to Maria Semilia-Nicolo through the entity 7506 Bay Ridge Realty, LLC for the retail building (K1) at 4051 Hylan Boulevard in Great Kills, Staten Island. The deal closed on April 10, 2026 and was recorded on April 22, 2026. The property has 12,487 square feet of built space and 8,420 square feet of additional…
UPDATED, 1:50 p.m., April 23, 2026: Moses Rabinovits through the entity Onderdonk Suites LLC paid $6.4 million to A&H Acquisitions through the entity 5723 Myrtle Avenue LLC for the retail building (K1) at 57-23 Myrtle Avenue and 914 Onderdonk Avenue in Ridgewood, Queens. The expected use is ground up development. The deal closed on March 27, 2026 and was recorded on April 22, 2026. The…
CBRE Investment Management through the entity Uslp Brooklyn Logistics Center, Lp as borrower signed a refi loan with lender Blackstone Group through the entity Re Bdc Loans Cl, LLC valued at $95.9 million for three industrial properties including the industrial building (E1) at 12555 Flatlands Avenue in East New York, Brooklyn, industrial building (E1) at 12595 Flatlands Avenue in East New York, Brooklyn, and industrial…
BD Hotels through the entity 400 Times Square Associates, LLC as borrower signed a refi loan with lender Wells Fargo valued at $179.1 million for The Pod Hotel at 400 West 42nd Street in Hell’s Kitchen, Manhattan. The deal closed on April 16, 2026 and was recorded on April 21, 2026. The prior lender was Wells Fargo which provided a loan in 2019 that had…
