Grid Group through the entity Loves Lane Owner LLC as borrower signed a refi loan with lender Deutsche Bank valued at $66.8 million for the industrial building (G1) at 142 West 21st Street in Chelsea, Manhattan. On the lot, there is one active major alteration construction project for a 22-unit, 61,256 square-foot R-2 building. The project was submitted by Yiannes Einhorn with plans filed August…
Vaya Development through the entity 1940 Jerome Ave Holdings LLC as borrower signed a new construction loan with lender NYS Housing Finance Agency and NYC Department of Housing Preservation and Development valued at $65.6 million for the 114-unit development at 1940-1942 Jerome Avenue in Mt Hope, Bronx. On the lot, there is one active new building construction project for a 114-unit, 77,855 square-foot, affordable residential…
Azimuth Development Group through the entity East 158th Street Affordable Owners LLC as borrower signed a new construction loan with lender NYS Housing Finance Agency and the NYC Department of Housing Preservation and Development valued at $68.9 million for two properties, in Melrose, the Bronx, at 450 East 158th Street in Melrose, Bronx and 407-409 East 158th Street. On these lots, there are two active…
Derby Copeland Capital paid $21.15 million to Page Management for four walkup properties in Chelsea at 253-255 West 15th Street and 236 West 15th Street in two separate transactions. In the first, Derby Copeland Capital through the entity Derby Curtain 153, LLC paid $10.7 million to Page Management through the entity Chelsea Development, LLC for the 20-unit residential walkup building (C4) at 253 West 15th…
Elliot T. Sohayegh through the entity Nyc Chris Holdings LLC paid $12 million to Michael Aryeh through the entity Horatio Street Partners LLC for the 40-unit residential walkup building (C4) at 42 Horatio Street in West Village, Manhattan. The deal closed on April 4, 2024 and was recorded on April 10, 2024. The property has 15,785 square feet of built space according to a PincusCo…
Goose Property Management through the entity Bergen St Equity LLC paid $39.7 million to Dillon Realty Interests through the entity Bnw3 Re-Gen, LLC for the industrial building (F2) at 268 Bergen Street in Boerum Hill, Brooklyn, office building (O1) at 287 Wyckoff Street in Boerum Hill, Brooklyn, and industrial building (G7) at 273 Wyckoff Street in Boerum Hill, Brooklyn. The acquisition was financed with a…
Real estate developer Yitzchak Tessler, of Tessler Developments alleges he made a $3 million loan to Isaac Hager, who is also known as Yitzchok Hager, on February 10, 2020, but that loan has not been repaid. Tessler is seeking repayment of the loan and additional interest, which the filing says amounts to more than $4.3 million. Isaac Hager has developed properties through the firm Cornell…
Robert Cerrone of Park Construction paid $6.6 million for a development site at 38-24 32nd Street in Long Island City, Queens, on April 3, 2024, according to bankruptcy documents. The property is currently occupied by a 10,000-square-foot building. Cerrone bought the building through the entity 32nd Realty Associates LLC. The contract date was August 23, 2023. The former owner, Joseph Torres, placed the 10,000-square-foot commercial…
Skyward Developers through the entity 53 E 177 Realty LLC as borrower signed a refi loan with lender Castle Lanterra through the entity CL Credit Opportunities Lender LLC valued at $24 million for the 81-unit residential elevator building (D7) at 53 East 177th Street in Mt Hope, Bronx. The deal closed on March 25, 2024 and was recorded on April 9, 2024. The prior lender…
Joel Wieder through the entity Gw Ryer LLC as borrower signed a new construction loan with lender NorthEast Community Bank valued at $34.8 million for the 102-unit project at 2047 Ryer Avenue in Fordham Heights, Bronx. On the lot, there is a new building project for a 102-unit, 67,673 square-foot residential (R-2) building submitted by Spaxel and filed by Gzim Hasandjekic with plans filed March…
Williams Equities through the entity 23rd Street Properties LLC as borrower signed a refi loan with lender Citibank through the entity Citi Real Estate Funding Inc. valued at $155 million for the office building (O3) at 28 to 40 West 23rd Street in Flatiron District, Manhattan. The deal closed on April 5, 2024 and was recorded on April 9, 2024. The prior lender was Series…
Joel Werzberger sold a two-parcel development site at 1118 57th Street and 1122 57th Street in Borough Park, Brooklyn for $5 million in two separate transactions. The buyer was an entity in the care of the Brooklyn law firm Treff & Lowy. In the first, the entity 57th Dev LLC paid $2.5 million to Joel Werzberger through the entity 1172 57 LLC for the development…
Dunn Development, a major affordable housing developer, through the entity Bronx Affordable Holdings LLC paid $2.7 million to Sasha Mehdyzadeh’s SilverRock Development Company through the entity 860 Bronx LLC for the development parcel (V0) at 860 East 147th Street in Mott Haven, Bronx. This is the first purchase by Dunn Development that PincusCo has tracked since at least the start of 2020. The deal closed…
Prabesh Gajurel, Bijaya Khadka, and Oscar E. Proano through the entity Realta LLC paid $2.9 million for the industrial building (F4) at 52-09 Van Dam Street in Long Island City, Queens. The deal closed on March 28, 2024 and was recorded on April 9, 2024. The property has 6,035 square feet of built space according to a PincusCo analysis of city data. The sale price…
Ruben Rafailov, Ilyazar Rafailov, and Yakov Rafailov through the entity 9815 Jamaica LLC paid $3.1 million to the Branchinelli family through the entity Branchinelli Food Distribution Corp. for the industrial building (E9) at 98-15 Jamaica Avenue in Woodhaven, Queens. The deal closed on March 26, 2024 and was recorded on April 9, 2024. The property has 10,500 square feet of built space according to a…
First Atlantic Capital through the entity Deb Holding S.R.L. acquired a 78.1 percent interest from First Atlantic Capital through the entity Atlantic Investments S.P.A. valued at $18.8 million for two retail and commercial condominium units and one garage condominium unit at 215 North 10th Street in Williamsburg, Brooklyn. The transfer appears to be between two affiliated entities. PincusCo is reporting on the transfer since First…
Healthpeak Properties, a real estate investment trust, acquired an 86.48 percent stake valued at $51.3 million in the medical building (I9) at 6010 Bay Parkway in Bensonhurst, Brooklyn. The seller was Physicians Realty Trust. The transaction is part of a merger deal valued at $21 billion between Healthpeak Properties and Physicians Realty Trust, with the new company known as Healthpeak Properties. The sale closed on…
Shmuel S. Schlaff through the entity 4902 Spv LLC as borrower signed a new construction loan with lender Ponce Bank through the entity Ponce Bank valued at $27 million at 4902 14th Avenue in Borough Park, Brooklyn. On this lot there was a 67,791 square-foot assembly (A-3) building submitted by Manuel Scharf with plans filed August 28, 2018 and permitted June 2, 2023. The loan…
Vijay Gogia through the entity Rvmim LLC as borrower signed a refi loan with lender Argentic Investment Management through the entity Argentic Real Estate Investment 2 LLC valued at $28 million for the 90-unit project at 2481 Crotona Avenue in Belmont, the Bronx. The deal closed on April 2, 2024 and was recorded on April 8, 2024. The prior lender was Golden Bridge Funding which…
L+M Development Partners through the entity Mgx Associates Phase 2 Ce LLC as borrower signed a new construction loan with lender NYS Housing Finance Agency and the NYC Department of Housing Preservation and Development valued at $106.6 million for eight properties in Brownsville, Brooklyn. On these lots, there are two active new building construction projects and major alteration projects with initial costs more than $5…
