An anonymous buyer through the entity 313 Powell Holdings LLC paid $23.2 million to Bruman Realty through the entity Powell Realty Holdings LLC for the 100-unit hotel building (HR) at 313 Powell Street in Brownsville, Brooklyn. The deal closed on December 19, 2023 and was recorded on January 2, 2024. The property has 52,431 square feet of built space according to a PincusCo analysis of…
Lender First Foundation Bank filed a $16 million pre-foreclosure action alleging retired comedian Bill Cosby and his wife were in a payment default on a loan secured by their 12,060-square-foot Lenox Hill townhouse on East 71st Street, in Manhattan. The bank filed the case in New York State Supreme Court on December 28, 2024, naming William H. Cosby Jr. and Camille O. Cosby. The original…
Jenel Management through the entity Haier America Building,LLC as borrower signed a refinance loan with lender Bank of America valued at $23.8 million for the landmarked Haier Building office building (O5) at 1356 Broadway in Garment District, Manhattan. The building opened as the headquarters for the Greenwich Savings Bank in 1924, and the city designated the building a landmark in 1992. Jenel Management has had…
Bronx Pro Group through the entity TPT Morris LLC as borrower signed a renovation loan with lender JPMorgan Chase valued at $26.5 million for two properties with 39 residential units including the 28-unit residential elevator building (D4) at 2384-2386 Morris Avenue in Fordham Heights, Bronx and 11-unit walkup building (C6) at 1966 University Avenue in Morris Heights, Bronx. The deal closed on December 20, 2023…
Behrooz Shavolian through the entity Bed Stuy Fantastic Four LLC as borrower signed a loan with Ponce Bank valued at $29.6 million for eight development properties including the development site (V1) at 772 Myrtle Avenue in Bedford Stuyvesant, Brooklyn, and the development site (V1) at 890 Myrtle Avenue in Bedford Stuyvesant, Brooklyn. On these lots, there are four active new building construction projects and major…
Camber Property Group through the entity Stevenson Homeownership LLC as borrower signed a construction loan with lender Enterprise Community Partners through the entity Enterprise Community Loan Fund valued at $44.5 million for 1850 Lafayette Avenue in Soundview, Bronx. The deal closed on December 20, 2023 and was recorded on December 29, 2023. On the tax block, there were three new building construction projects. The largest…
Jacob Schwimmer through the entity 40 Bruckner Realty LLC as borrower signed a loan with lender MF1 Capital LLC, an affiliate of Berkshire Residential, valued at $141.5 million for the 365-unit residential elevator building (D7) at 40 Bruckner Boulevard in Mott Haven, Bronx. The deal closed on December 27, 2023 and was recorded on December 29, 2023. The property has 304,362 square feet of built…
Sabbir Ahmed through the entity Premium Portfolio Holdings Inc. paid $963,840 for the mixed-use building (K2) at 127-18 Liberty Avenue in South Ozone Park, Queens. The deal closed on November 30, 2023 and was recorded on December 29, 2023. The property has 2,050 square feet of built space and 665 square feet of additional air rights for a total buildable of 2,718 square feet according…
Nazim Ali Bhatti through the entity Hybrid 9816 LLC paid $1.2 million to the estate Of Richard J. Hungerford for the two-unit mixed-use retail building (K4) at 98-16 Astoria Boulevard in East Elmhurst, Queens. The deal closed on November 20, 2023 and was recorded on December 29, 2023. The property has 2,962 square feet of built space and 1,149 square feet of additional air rights…
Finkelstein Timberger East Real Estate and Morgan Group through 33 entities that own multifamily buildings in the Bronx, allege the city has not approved J-51 applications which has cost the owners millions of dollars through below-market sales, reduced mortgage proceeds and lost investment opportunities because overpayments made for taxes which they allege are not owed. The owner companies, who are not named in the complaint…
Natalia Legg, the widow of the late Black Spruce Management co-founder Oliver Legg, filed a 45-page complaint over the weekend, alleging Black Spruce Management co-founder and chief executive Joshua Gotlib, a close family friend who is also the trustee for Oliver Legg’s trust, misused the trust’s funds and made incorrect statements to Natalia about financial aspects of Black Spruce and its relationship to the trust….
Vaja Group through the entity Pelham Residences LLC as borrower signed a new construction loan with lender NorthEast Community Bank valued at $16.8 million for the 42-unit project at 2135 Colonial Avenue in Pelham Bay, Bronx. On the lot, there is one active new building construction project for a 42-unit, 25,000 square-foot R-2 building. The project was submitted by Moses Freund of Vaja Group with…
Chaim Wiesenfeld through the entity Anthony Partners LLC as borrower signed a new construction loan with lender NorthEast Community Bank valued at $25.6 million for the development site (V0) at 2077 Ryer Avenue in Fordham Heights, Bronx. On the lot, there is one active new building construction project for a 71-unit, 39,274 square-foot R-2 building. The project was submitted by Yitzchak Joseph with plans filed…
Samuel Fisch through the entity 40 Fulton Holdings LLC as borrower signed a refi loan with lender Deutsche Bank valued at $40 million for the office building (O4) at 40 Fulton Street in Financial District, Manhattan. The deal closed on December 21, 2023 and was recorded on December 28, 2023. The prior lender was Bank of New Hampshire which held debt that had an original…
Miklos Vasarhelyi through the entity 247 Audubon Ny LLC paid $6.3 million to Barberry Rose Management through the entity Stf 247 Audubon Avenue Holding LLC for the 40-unit residential elevator building (D7) at 247 Audubon Avenue in Washington Heights, Manhattan. The deal closed on December 21, 2023 and was recorded on December 28, 2023. The property has 49,380 square feet of built space according to…
Wolfe Landau’s Watermark Capital Group through the entity The Pecora LLC as tenant signed a $15 million ground lease with landlord Gianpietro Pecora through the entity Forte Italia LLC for the vacant parking lot (G6) at 41-02 Crescent Street in Long Island City, Queens. On the lot, there is one new building construction project for a 96-unit, 149,580 square-foot R-2 building. The project was submitted…
Muneef Alsayedi through the entity 132 W LLC paid $2 million to Elmo Realty through the entity Empire Development Fund 3, LLC for the development building (V1) at 132 West 134th Street in Harlem, Manhattan. The deal closed on November 29, 2023 and was recorded on December 27, 2023. The property has zero square feet of built space and 10,313 square feet of additional air…
Martin Friedman through the entity Emes Residences LLC paid $3.6 million for the four-unit building (C3) at 1548 54th Street and an adjacent parcel in Borough Park, Brooklyn. The deal closed on December 11, 2023 and was recorded on December 27, 2023. The two properties have 5,250 square feet of built space and 3,792 square feet of additional air rights for a total buildable of…
Christopher Kyriakides through the entity Blue Spartan Kyriakides 31-01 LLC paid $8.9 million to Anthoula Katsimatides and George Katsimatides through the entity Akat Properties LLC for the 21-unit residential walkup building (C7) at 20-79 31st Street in Ditmars Steinway, Queens. The deal closed on December 19, 2023 and was recorded on December 27, 2023. The property has 15,844 square feet of built space according to…
KSL Capital Partners through the entity 1776 Portfolio Investment, LLC acquired six Hersha Hospitality Trust hotels through the entity Hersha Hospitality Trust (On Behalf Of Its Public including the hotel building (H1) at 132 4th Avenue in Greenwich Village, Manhattan, hotel building (H2) at 206 East 52nd Street in Midtown East, Manhattan, and hotel building (H2) at 148-18 134th Street in South Ozone Park, Queens….
