Il Sun Lee and In Yong Lee of 1422 Juno Realty Corp. paid $3 million to Mayfair Ocean LLC for the six-unit mixed-use building (S5) at 1422 2nd Avenue in Lenox Hill, Manhattan. The deal closed on February 14, 2024 and was recorded on February 15, 2024. The property has 6,600 square feet of built space and 9,392 square feet of additional air rights for…
Tishman Speyer, through the entity 175 Varick, L.L.C., as tenant, extended its ground lease with Jonathan Lehman’s The Georgian Press, Inc., as landlord, at the office building (O6) at 175 Varick Street in Hudson Square, Manhattan. The extension had a value in city property records of $57 million, but only state taxes were paid. The expiration date of the ground lease was extended from December…
The Greenpoint Monitor Museum seeks to sell for $100 per square foot, up to approximately 337,000 square feet of air rights to the Picket family’s Gotham Organization and its development partner RiseBoro Community Partnership as part of a large new development called Monitor Point that will have approximately 1,000 rental units, new MTA facilities and a new Greenpoint Monitor Museum. The contract between the seller…
InterVest Capital Partners, the investment fund formerly known as Wafra Capital Partners, bought a $124.6 million 2019 loan from M&T Bank, secured by Tribeca Investment Group’s leasehold interest in the 477,000-square-foot office buildings at 30 Broad Street, in the Financial District, Manhattan, according to sources. The purchase price of the loan could not be determined, but some sources said it was at a significant discount…
First Central Savings Bank alleges a group of borrowers who own the 10-unit 251 Dekalb Avenue, in Clinton Hill, Brooklyn, is in default on a $7 million mortgage, and the lender filed a pre-foreclosure action yesterday in Brooklyn State Supreme Court. Case LINK According to the complaint, “Borrower defaulted under the Loan Documents by failing to timely make the payment due on November 1, 2023….
Zev Mayer through the entity 1268s LLC as borrower signed a refi loan with lender Valley National Bank valued at $27 million for the 90-unit residential elevator building (D1) at 1258-1268 Shakespeare Avenue in Highbridge, Bronx. On the lot, there is one active new building construction project for a 90-unit, residential (R-2) building. The project was submitted by Zev Mayer with plans filed March 14,…
Medhat K. Mohamed through the entity Astoria 2337 LLC paid $2 million to Theodore Douros through the entity 23-37 Astoria Blvd, LLC for the nine-unit residential walkup building (C1) at 23-37 Astoria Boulevard in Astoria, Queens. The deal closed on February 1, 2024 and was recorded on February 14, 2024. The property has 5,400 square feet of built space and 1,551 square feet of additional…
Tse C. Yuan through the entity Cp 2022 LLC paid $3 million to Little Flock Church through the entity The Little Flock Church for the specialty building (M1) at 69-38 47th Avenue in Maspeth, Queens. The deal closed on January 31, 2024 and was recorded on February 14, 2024. The property has 7,687 square feet of built space and 491 square feet of additional air…
UPDATED 4:30 a.m., February 16, 2024: Fannie Mae plans to deny all loans brokered by Meridian Capital Group submitted after March 4, 2024, according to a supplement the government sponsored entity disclosed in the past few days on its website. The move comes three months after Freddie Mac disclosed it would not accept loans brokered by Meridian Capital Group while it was under investigation by…
Leon Mann through the entity Broadway Stockton LLC as borrower signed a refi loan with lender TD Bank valued at $22 million for the 71-unit residential elevator building (D7) at 912 Broadway in Bedford Stuyvesant, Brooklyn. The deal closed on January 23, 2024 and was recorded on February 13, 2024. The prior lender was Metropolitan Commercial Bank which held debt that had an original loan…
Brause Realty through the entity New Second Avenue Owner LLC as borrower signed a new construction loan with lender JPMorgan Chase valued at $75 million for the 157-unit development project at 729 Second Avenue in Murray Hill, Manhattan. The deal closed on February 6, 2024 and was recorded on February 13, 2024. The signatory for Brause Realty was David A. Brause. This is a 128,983-square-foot,…
Bindu Dalal through the entity Marigold West LLC acquired the tenth floor office cooperative unit from Issac Sutton of Century Development & Leasing through the entity JSI 31st Holdings LLC for $4.2 million in the commercial cooperative building (O6) at 25 West 31st Street in Penn Plaza, Manhattan. The deal closed on February 6, 2024 and was recorded on February 13, 2024. The property has…
An affiliate of MKF Realty through the entity Property 46 East LLC bought a 31 percent stake in the MKF Realty retail building (K2) at 639 West 46th Street in Hell’s Kitchen, Manhattan, which valued the property at $13.75 million. The seller entity was 639 West 46 Street LLC. The specific identities of the buyers and sellers were not clear. The sale closed on January…
The nonprofit Stephen Siller Tunnel To Towers Foundation paid $17 million to another nonprofit, the Society of St. Paul through the entity Pious Society of St. Paul, Inc. for the specialty building (W7) at 2187 Victory Boulevard in Westerleigh, Staten Island. The deal closed on December 20, 2023 and was recorded on February 13, 2024. The property has 82,375 square feet of built space, according…
SC Holdings seeks termination of $26M Bowery Savings Bank contract: SC Holdings, which signed a contract to buy 130 Bowery, the landmarked former Bowery Savings Bank building, is seeking to terminate the contract and have its $1.3 million deposit returned. The contract vendee blames the bankrupt seller for dragging its feet in completing requirements outlined in the contract. SC Holdings declared the contract void on…
Anshel Fridman through the entity 91 Bruckner Blvd LLC as borrower signed a new construction loan with lender Bank Hapoalim valued at $25.1 million for the development site (V1) at 91 Bruckner Boulevard in Mott Haven, Bronx. On these lots, there is one active new building construction project for a 89-unit, 60,999 square-foot R-2 building. The project was submitted by Anshel Fridman and filed by…
Menachem Chazanow through the entity Crystal At Rockaway Park LLC as the buyer signed a contract with the Marcal Group through the entity Emerald Beach East LLC as the seller for the development site (V0) at 157 Beach 115th Street in Rockaway Park, Queens. No sale price was disclosed. On the lot, there is one active new building construction project for a 76-unit, 84,565 square-foot…
Marcel Fridman through the entity 3×4 Slope Bk LLC paid $2.1 million to Susan Sanders through the entity 499 Lanac LLC for the three-unit mixed-use building (S3) at 499 Canal Street in Hudson Square, Manhattan. The deal closed on February 1, 2024 and was recorded on February 12, 2024. The property has 2,684 square feet of built space and 1,948 square feet of additional air…
An anonymous buyer through registered at the law office of D. Paul Martin, through the entity Patchen Properties Associates LLC, paid $3.5 million to the entity Bapaz Patchen LLC for the five-unit residential walkup building (C2) at 18 Patchen Avenue and the five-unit residential walkup building (C2) at 20 Patchen Avenue in Bedford Stuyvesant, Brooklyn. The deal closed on February 8, 2024 and was recorded…
Penn South Capital through the entity 99ev1 LLC paid $4.8 million to Kushner Companies through the entity Ev 1st Avenue Property Owner, L.P. for the four-unit mixed-use building (S4) at 99 East 3rd Street in East Village, Manhattan. This is part of a $41 million portfolio sale. The deal closed on January 30, 2024 and was recorded on February 12, 2024. The property has 4,163…
