David Halberstam through the entity 340 Myrtle Development LLC as borrower signed a new construction loan with lender S3 Capital through the entity S3 Re 340 Myrtle Funding LLC valued at $24.6 million for a development at 340 Myrtle Avenue in Fort Greene, Brooklyn. On the lot, there is one active new building construction project for a 43-unit, 33,308 square-foot R-2 building. The project was…
Davis Companies through the entity Harlem Multi One, LLC as borrower signed a new construction loan with lender First-Citizens Bank & Trust Company through the entity First-Citizens Bank & Trust Company valued at $33.4 million for the development building (V1) at 1975 Madison Avenue in East Harlem, Manhattan. On the lot, there is one active new building construction project for a 93-unit, 107,735 square-foot R-2…
Robert Favata through the entity 99-58 66th Ave LLC paid $48 million to Richard and Andrew Goldberg through the entity Fannwood Estates, LLC for the 310-unit residential elevator building (D7) at 99-19 66th Avenue in Rego Park, Queens. The deal closed on November 30, 2023 and was recorded on December 21, 2023. The property has 338,016 square feet of built space and 183,648 square feet…
Bridge Industrial through the entity Bp New York 2, LLC paid $57 million to Turnbridge Equities through the entity 5895 Maurice Avenue Property LLC for the industrial building (E1) at 58-95 Maurice Avenue in Maspeth, Queens. The deal closed on December 19, 2023 and was recorded on December 21, 2023. The property has 127,587 square feet of built space according to a PincusCo analysis of…
VICI Properties through the entity Vici Cp Propco LLC paid $342.9 million to buy a ground lease from Chelsea Piers through the entity Chelsea Piers L.P. for the Chelsea Piers sport and entertainment complex including the specialty building (T2) at 111A 11th Avenue in Chelsea, Manhattan, specialty building (T2) at 111C 11th Avenue in Chelsea, Manhattan, and specialty building (T2) at 111B 11th Avenue in…
Columbia Pacific Advisors and JTRE are engaged in a funding dispute over construction at a third Manhattan commercial property, 14 Vesey Street in the Financial District, which has loans totaling $27.8 million. This suit filed yesterday in New York State Supreme Court is similar to two other cases the lender filed last week claiming defaults at JTRE retail renovation projects. All three cases are related,…
Joseph Riegler through the entity 822 Dumont Millenium LLC as borrower signed a renovation construction loan with lender Local Initiatives Support Corporation valued at $8 million for the school building (W2) at 588 Hendrix Street, also known as 818 Dumont Avenue, in East New York, Brooklyn. The deal closed on December 8, 2023 and was recorded on December 20, 2023. The prior lender was CDK…
Steve Samandarov through the entity SMD Astoria LLC paid $2.7 million to Eric Benaim through the entity My One Jerusalem Realty Corp. for the 15-unit residential walkup building (C7) at 9-03 35th Avenue in Astoria, Queens. The deal closed on December 15, 2023 and was recorded on December 20, 2023. The property has 16,157 square feet of built space according to a PincusCo analysis of…
Rybak Development through the entity 218 Madison Avenue Development LLC paid $12 million to Sapir Organization through the entity Asrr Suzer 218 LLC for the retail building (O5) at 218 Madison Avenue in Grand Central, Manhattan. The deal closed on December 14, 2023 and was recorded on December 20, 2023. The property has 11,362 square feet of built space and 23,830 square feet of additional…
Lender Emerald Creek Capital filed an $11.8 million pre-foreclosure action against the owner of the 64,050-square-foot commercial building at 36-01 37th Avenue in Long Island City, Queens. The property owner Shafquat Chaudhary bought the building in January 1998 through the entity Elite R.E. Corp. for $1.5 million, and over the years refinanced the property multiple times, including in November 2019, when he borrowed $11.8 million…
Bradley M. Ickes through the entity BMI Glendale Holdings, Inc. as borrower signed a refi loan with the lender entity 7920 71 Ave Lender LLC in care of the law firm Faegre Drinker Biddle & Reath, valued at $5 million for the industrial building (F9) at 79-24 71st Avenue in Glendale, Queens. The deal closed on May 11, 2023 and was recorded on December 19,…
Solomon Schwimmer through the entity Lawrence Heights Holdings LLC as borrower signed a new construction loan with lender Ponce Bank valued at $55 million for the mixed-use building (K4) at 150 Lawrence Street in Downtown Brooklyn, Brooklyn. On the lot, there is one active new building construction project for a 101-unit, 82,366 square-foot residential (R-2) building. The project was submitted by Solomon Schwimmer and filed…
The prop and scene fabricator The Specialists Ltd. through the entity Mult Lots, LLC as borrower signed a refi loan with lender Wells Fargo valued at $59 million for the industrial condo at 48-05 Metropolitan Avenue in Ridgewood, Queens. The deal closed on December 6, 2023 and was recorded on December 19, 2023. The prior lender was Ladder Capital which held debt that had an…
Shou Jian Cheng through the entity Chen, Shou Jian paid $2.3 million to the entity 5022 9th Avenue LLC for the four-unit building (C3) at 5022 9th Avenue in Sunset Park, Brooklyn. The deal closed on December 7, 2023 and was recorded on December 19, 2023. The property has 3,120 square feet of built space and 3,349 square feet of additional air rights for a…
Slate Property Group through the entity 320 Pearl Street Propco LLC paid $24.1 million to KSL Capital Partners and Hersha Hospitality Trust through the entity Seaport Hospitality LLC for the Hampton Inn Manhattan-Seaport-Financial District hotel (H3) at 320 Pearl Street in Financial District, Manhattan. KSL Capital acquired Hersha Hospitality Trust through a deal that close late last month. The deal closed on December 14, 2023…
The entity 43 Bleecker LLC registered with the law firm Becker, Glynn, Muffly, Chassin & Hosinski paid $35 million to DLJ Real Estate Capital Partners through the entity Rogers Investments NY, LLC for the mixed-use office building (O5) at 43 Bleecker Street in NoHo, Manhattan. The deal closed on December 14, 2023 and was recorded on December 19, 2023. The property has 37,993 square feet…
Joel Schwartz through the entity 494 Manhattan LLC as borrower signed a refi loan with lender Arbor Realty Trust through the entity Arbor Private Investment LLC valued at $17.8 million for the 23-unit residential elevator building (D1) at 494 Manhattan Avenue in Greenpoint, Brooklyn. The deal closed on November 30, 2023 and was recorded on December 18, 2023. The prior lender was BridgeCity Capital which…
RedHoek+Partners through the entity DDG 379 Vb LLC as borrower signed a new construction loan with lender S3 Capital through the entity S3 RE Funding III LLC valued at $12 million for the development building (V1) at 379 Van Brunt Street in Red Hook, Brooklyn. On the lot, there is one active new building construction project for a 11-unit, 15,599 square-foot R-2 building. The project…
KSL Capital Partners through the entity 44 Metro, LLC as borrower signed a refi loan with lender Wells Fargo and Citibank through the entity Citi Real Estate Funding Inc. valued at $23 million for the hotel building (H2) at 148-18 134th Street in South Ozone Park, Queens. This property was formerly owned by Hersha Hospitality Trust, which KSL Capital Partners acquired earlier this year. The…
Prime Group Holdings through the entity Prime Storage Fifth Avenue Harlem, LLC as borrower signed a refi loan with lender Citibank valued at $29.9 million for three industrial properties including the industrial building (E7) at 12 West 142nd Street, an industrial building (E7) at 2350 5th Avenue and a vacant lot (G7) at West 142nd Street, all one one tax block in Harlem, Manhattan. This…
