Greenbrook Partners and Carlyle Group paid $8.37 million to Elazar Orlofsky for two adjacent residential walkups at 33 and 35 Lexington Avenue in Clinton Hill, Brooklyn, in two separate transactions. In the first, Greenbrook Partners and Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $4.185 million to Elazar Orlofsky through the entity 33 Lexington Avenue LLC for the five-unit residential walkup building (C2)…
Haimo Zhong through the entity 1010 Archer Ave LLC paid $4.6 million to Hector Florimon through the entity F&P Development Corp. for the development site (V1) at 149-21 Archer Avenue in Jamaica, Queens. On the lot, there was one new building construction project for a 68-unit, 31,812 square-foot R-1 building. The project was submitted by A&R Properties Group and filed by Joshua Asherian with plans…
Angela Gazivoda paid $7.8 million to Lemle & Wolff Companies for three residential walkup properties in the Bronx, at 2078 Morris Avenue, 1812 Harrison Avenue and 1 East Tremont Avenue with a total of 105 residential units. In the first, Angela Gazivoda through the entity 2078 Morris LLC paid $5.3 million to Lemle & Wolff Companies through the entity Lemle Realty Corporation for the 72-unit…
Builders Group USA through the entity 972 Bushwick LLC paid $7 million to Royalton Capital through the entity Artemesia Spe LLC for the industrial building (G7) at 972 Bushwick Avenue in Bushwick, Brooklyn. The deal closed on January 5, 2024 and was recorded on January 17, 2024. The property has zero square feet of built space and 16,353 square feet of additional air rights for…
Weiqiang Lin and Aiyue Zhang through the entity Dale NY LLC paid $7.5 million to Deborah Rosenberg and Annette Wiesel through the entity A&Z Huron LLC for the industrial building (F5) at 249 Huron Street in Greenpoint, Brooklyn, specialty building (Z9) at 238 Huron Street in Greenpoint, Brooklyn, and specialty building (Z9) on Huron Street in Greenpoint, Brooklyn. The deal closed on January 10, 2024…
Dominic Kim through the entity 805-807 East LLC paid $11.2 million to Angelo Tigri through the entity 201 Madison Realty Corp. for the 10-unit residential walkup building (C7) at 805 Lexington Avenue in Lenox Hill, Manhattan. The deal closed on November 27, 2023 and was recorded on January 17, 2024. The property has 9,452 square feet of built space and 11,966 square feet of additional…
Related Companies and Sterling Equities through the entity QDG II Acquisitions LLC paid $12.3 million to Benaim x Partners through the entity Jyb 126 LLC for the industrial building (G2) at 126-16 Northern Boulevard Sr South in Willets Point, Queens and specialty building (Z9) at 126-17 34th Avenue in Willets Point, Queens. The deal closed on January 11, 2024 and was recorded on January 17,…
Poly Prep Country Day School through the entity Poly Prep Country Day School paid $13.5 million to Brooklyn Society for Ethical Culture for the school building (W3) at 53 Prospect Park West in Park Slope, Brooklyn. The deal closed on November 21, 2023 and was recorded on January 17, 2024. The property has 5,724 square feet of built space and 33,464 square feet of additional…
Shanghai Commercial Bank filed a pre-foreclosure action against an affiliate of the Chen family over a $20.85 million loan secured by 250 Lafayette Street in SoHo, nearly two weeks after the Chens placed a stalled $91 million Garment District residential condominium project into bankruptcy to protect it from creditors including Shanghai Commercial Bank. Case LINK The Chen family, including Lucia and Ted Chen, has owned…
West Egg Development through the entity Dakota United Group LLC as borrower signed a new construction loan with lender Ponce Bank valued at $16 million for the development parcel (V1) at 215-16 Northern Boulevard in Bayside, Queens. On the lot, there is one active new building construction project for a 34-unit, 39,997 square-foot R-2 building. The project was submitted by Ben Mahfar and filed by…
Prime Group Holdings through the entity Prime Storage Bronx MLK Boulevard, LLC as borrower signed a refi loan with lender Societe Generale through the entity Societe Generale Financial Corporation valued at $31.5 million for five industrial properties including the industrial building (F2) at 950 University Avenue in Highbridge, Bronx. The deal closed on January 8, 2024 and was recorded on January 16, 2024. The prior…
VAJA Group through the entity The Glebe Castle LLC as borrower signed a new construction loan with lender Popular Bank through the entity Popular Bank valued at $36.2 million for an 81-unit project at 2121 Glebe Avenue in Westchester Square, Bronx. There is a new building project for an 81-unit, 61,859 square-foot R-2 building submitted by Isaac Rosenberg and Joel Wagschal and filed by Isaac…
Barrier Free Living through the entity 270 East 2nd Street Partners LLC as borrower signed a new construction loan with lender Merchants Bank of Indiana and NYS Homeless Housing and Assistance Corporation valued at $45.3 million for the development (V1) at 270 East 2nd Street in Alphabet City, Manhattan. On the lot, there is one active new building construction project for a 75-unit, 65,696 square-foot…
Bren Salamon through the entity 217 Hancock Corp. paid $2.3 million to Meir Hillel through the entity 276 Smith Street Realty LLC for the two-unit mixed-use building (S2) at 276 Smith Street in Carroll Gardens, Brooklyn. The deal closed on January 3, 2024 and was recorded on January 16, 2024. The property has 2,700 square feet of built space according to a PincusCo analysis of…
RYCO Capital through the entity West Lake 135-139 Avenue A LLC paid $19.1 million to the entity Herrick 137 LLC 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 January 16, 2024. The property has 27,266 square feet of built space and 8,977 square feet of additional air…
Slate Property Group and RiseBoro Community Partnership through the entity Rb 135th Avenue Owner LLC paid $64 million to McSam Hotel Group through the entity Jfk Hotel Partners LLC for the hotel building (H3) at 144-02 135th Avenue in South Ozone Park, Queens, near John F. Kennedy International Airport. To finance the purchase and repositioning of the hotel into 318 residential units, Slate Property Group…
Toronto-based Hennick & Company through the entity 401 East Sixty Holdings LP paid $153 million to Gazit Horizons through the entity Gazit Horizons (Bridge Tower) LLC for two retail condominium units and the garage unit at 401 East 60th Street in Lenox Hill, Manhattan. Hennick & Company made the acquisition in two transactions, one for $150.5 million and another for $2.5 million. The deal closed…
The dollar volume of New York City commercial real estate pre-foreclosure filings fell in 2023 by 7 percent to $3.2 billion from $3.5 billion the year before. That was despite nearly $1 billion in filings in August 2023. The largest filing of the year was a $750 million pre-foreclosure at 20 Times Square from August, which has since been discontinued after Hana Financial Group took…
The dollar volume of New York City commercial real estate bankruptcy filings rose by 46 percent in 2023 to $2.1 billion compared to the prior year’s total of $1.4 billion, while the number of petitions more than doubled to 137 last year compared to 67 in 2022, according to a PincusCo analysis of court data. Most bankruptcies are filed to block an impending foreclosure sale…
Yellow Jacket Ventures through the entity Hope Place LLC as borrower signed a refi loan with lender Amalgamated Bank valued at $16 million for the 55-unit residential elevator building (D1) at 19-21 Mount Hope Place in Mt Hope, Bronx. The deal closed on December 29, 2023 and was recorded on January 12, 2024. The prior lender was NorthEast Community Bank which held debt that had…
