Penn South Capital through the entity 170-174ev1 LLC paid $22 million to Kushner Companies through the entity Village Kf 2 Associates LLC for the 36-unit residential walkup building (C7) at 170 East 2nd Street in Alphabet City, Manhattan and nine-unit residential walkup building (C7) at 174 East 2nd Street in Alphabet City, Manhattan. This is the second part of a $41 million deal reported earlier….
$23M LIC condo dev loan pre-foreclosure: Cathay Bank seeks to foreclose on a $23 million construction loan lent in 2018 for the development of the 86-unit Meridian Towers condominium at 37-19 32nd Street in Long Island City with an alternate address of 37-21 32nd Street. The sponsor is Shangri-La Astoria Inc. that includes various individuals signing loan documents, as sponsor and named in the court…
RYCO Capital through the entity West Lake 135-139 Avenue LLC as borrower signed an acquisition loan with lender Derby Copeland Capital through the entity Cf Dcope Fin LLC valued at $17 million for the 31-unit residential elevator building (D9) at 135 Avenue A in East Village, Manhattan. The deal closed on December 20, 2023 and was recorded on February 7, 2024. The property has 27,266…
MHANY Management through the entity MHANY 2023 HOLDINGS LLC as borrower signed a renovation construction loan with lender Community Preservation Corporation through the entity CPC Funding SPE 1 LLC valued at $26.4 million for two residential walkup properties with 51 residential units including the 25-unit residential walkup building (C7) at 609 West 158th Street in Washington Heights, Manhattan and 26-unit residential walkup building (C1) at…
Gary Herwitz through the entity J & G Prince Street LLC paid $3.6 million to the entity 193 Prince St. LLC for a 50 percent stake in the two-unit mixed-use building (S2) at 193 Prince Street in SoHo, Manhattan. The deal closed on January 31, 2024 and was recorded on February 7, 2024. The property has 5,992 square feet of built space and 721 square…
Damien Smith’s Prosper Property Group through the entity Walker Street Owner LLC paid $5.2 million to Virgil Chong through the entity Hop Yee, Inc., for the mixed-use building (K4) at 305-307 Church Street in Tribeca, Manhattan. The deal closed on February 2, 2024 and was recorded on February 7, 2024. The property has 2,514 square feet of built space and 5,065 square feet of additional…
Lawrence Movtady’s Movcap through the entity W 85th Street Holdco LLC paid $5.2 million to Kokot Realty Enterprises through the entity 85 West Associates, L.P. for the 13-unit residential walkup building (C1) at 211 West 85th Street in Upper West Side, Manhattan. The deal closed on January 29, 2024 and was recorded on February 7, 2024. The property has 13,015 square feet of built space…
Gary Blond through the entity 41 13 YC LLC paid $6.2 million to Moshe Khoshkheraman through the entity 308 Hicks St LLC for the nine-unit residential walkup building (C1) at 308 Hicks Street in Brooklyn Heights, Brooklyn. The deal closed on January 31, 2024 and was recorded on February 7, 2024. The property has 7,220 square feet of built space and 59 square feet of…
UPDATED: Bobby Adjmi through the entity 17 East 70th Holdings LLC paid $7.5 million to J.T. Tai & Co. Foundation for the 13-unit residential elevator building (D5) at 17 East 70th Street in Lenox Hill, Manhattan. The deal closed on January 31, 2024 and was recorded on February 7, 2024. The property has 12,075 square feet of built space and 13,026 square feet of additional…
iPark through the entity 350 West 42nd Street Garage LLC paid $12 million to HUBB NYC through the entity 350 W 42nd St Retail LLC for the garage unit at the base of the 551-unit rental building at 350 West 42nd Street in Hell’s Kitchen, Manhattan. The deal closed on January 19, 2024 and was recorded on February 7, 2024. The garage property has 37,525…
Salomon Cojab through the entity 232 Adelphi Realty Co LLC paid $12.1 million to Serabjit Singh Malhotra through the entity Beards Of Delaware LLC for the 12-unit rental building at 232 Adelphi Street in Fort Greene, Brooklyn. The former lender had filed a pre-foreclosure action in 2022, but the sale occurred before an auction was scheduled. The building is a former church. The deal closed…
William Koeppel’s 137-unit Turtle Bay rental property with $32 million in senior debt had been embroiled in class-action landlord-tenant litigation since 2011, but now will be sold through a bankruptcy-led marketing campaign, according to an order confirming the bankruptcy plan signed January 18, 2024. Tenants at 350 East 52nd Street filed a complaint in 2011 alleging rent overcharges related to J-51 improvements, and the parties…
Edison Properties through the entity Edison Garage Lender LLC bought a note with an original principal of $5 million from Apple Bank for Savings secured by Edison Properties’s industrial building (G1) at 257 West 47th Street in Hell’s Kitchen, Manhattan. The deal closed on January 31, 2024 and was recorded on February 6, 2024. The prior lender was Apple Bank for Savings which held debt…
Om Dhiman through the entity 259 Broome LLC as borrower signed a refi loan with lender JPMorgan Chase through the entity Jpmorgan Chase Bank, N.A. valued at $6 million for the 48-unit residential elevator building (D7) at 259-261 Broome Street in Lower East Side, Manhattan. The deal closed on January 31, 2024 and was recorded on February 6, 2024. The prior lender was Northfield Bank…
Frank DeFalco through the entity Boerum Place Properties, LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $8.9 million for the 46-unit residential elevator building (D9) known as the Trolley House at 129 Boerum Place in Boerum Hill, Brooklyn. The deal closed on February 1, 2024 and was recorded on February 6, 2024. The prior lender was Citizens Bank which held…
Jing Wei Zeng and Wei Ying Zen through the entity Dz818 Bergen LLC paid $3.1 million to Daniel Zuckerman through the entity 673 Fifth Partners LLC for the six-unit residential walkup building (C2) at 536 Bergen Street in Prospect Heights, Brooklyn. The deal closed on January 23, 2024 and was recorded on February 6, 2024. The property has 5,826 square feet of built space according…
Chris Furie through the entity CF Richmond LLC paid Brookfield Properties through the entity Staten Island Frosty Outparcel LLC $3.2 million for the strip retail building (K5) at 26 Richmond Hill Road in New Springville, Staten Island. The deal closed on February 2, 2024 and was recorded on February 6, 2024. The property has 3,337 square feet of built space and 22,180 square feet of…
Theodore Shane through the entity 873 E 228th Owner, LLC paid $4.7 million to Andrea Gjini through the entity 873 East 228 Street LLC for the 16-unit residential walkup building (C1) at 873 East 228th Street in Wakefield, Bronx. On the lot, there was a new building construction project for a 16-unit, 10,166 square-foot residential (R-2) building. The project was submitted by L. Leguci with…
Richard Watson through the entity Emerge Capital – QB LLC paid $5 million to Samuel B. Akuoku through the entity Vas Development Corp for the retail building (O5) at 224-14 to 224-22 Merrick Boulevard in Laurelton, Queens. The deal closed on January 26, 2024 and was recorded on February 6, 2024. The six property has 14,000 square feet of built space and 7,035 square feet…
UPDATED: Parag Sawhney and Raymond Chera’s Penn South Capital paid $14.7 million to Kushner Companies for two walkup buildings at 325 East 10th Street and 23 Avenue A in Alphabet City, Manhattan, in two separate transactions. The Real Deal reported on these transactions last week, saying it was part of a $41 million portfolio sale. In the larger, Penn South Capital through the entity 325ev1…
