Ira Schwartz through the entity 79 Arverne Development LLC as borrower signed a new construction loan with lender Flushing Bank through the entity Flushing Bank valued at $43 million for the development site (V1) at 350 Beach 79th Street in Arverne, Queens. On the tax block, there was one new building construction project filed totaling 107,537 square feet. It is a 107,537 square-foot storage (S-1)…
UPDATED 4:30 p.m., December 14, 2023: EJS Group and Hope Street Capital through the entity Fulton Property Owner LLC as borrower signed a construction loan with lender Bank OZK valued at $83.15 million for the 240-unit project at 12 Halsey Street in Bedford Stuyvesant, Brooklyn. The developers plan an approximately 240-unit project with about 230,000 square feet spread over three buildings, according to a media…
Rockrose Development through the entity West 38 Res L.L.C. as borrower signed a refi loan with lender Wells Fargo valued at $293.1 million for the 590-unit residential elevator building (D7) at 476 11th Avenue in Hudson Yards, Manhattan. The deal closed on December 8, 2023 and was recorded on December 13, 2023. The prior lender was Wells Fargo which held debt that had an original…
UPDATED 1:15 p.m., December 14, 2023: Eddie Serure through the entity 1681 Pitkin Partners LLC paid $3 million to Nakash Holdings and Aaron Cohen through the entity Chester Rockaway Associates for the two-unit mixed-use building (K4) at 1683 Pitkin Avenue in Brownsville, Brooklyn. The deal closed on December 6, 2023 and was recorded on December 13, 2023. The property has 12,421 square feet of built…
Penn South Capital through the entity Brooklyn5 LLC paid $3.2 million for the four-unit building (C3) at 138 Noble in Greenpoint, Brooklyn. The deal closed on December 7, 2023 and was recorded on December 13, 2023. The property has 3,750 square feet of built space and 303 square feet of additional air rights for a total buildable of 4,050 square feet according to a PincusCo…
Yotam Michaeli through the entity Dekalb BK LLC paid $3.5 million to the properties’ former lender BK 38th Lender LLC for the 27-unit residential elevator building (D6) at 1357 Dekalb Avenue in Bushwick, Brooklyn, 27-unit residential elevator building (D6) at 1351 Dekalb Avenue in Bushwick, Brooklyn, and 27-unit residential elevator building (D6) at 1355 Dekalb Avenue in Bushwick, Brooklyn. The deal closed on December 7,…
Deepak Ramani through the entity United Ventures LLC paid $7.7 million to Harold B. Woolfalk through the entity Okanaga New York, Inc. for the office building (O8) at 123 Watts Street in Tribeca, Manhattan. The deal closed on December 8, 2023 and was recorded on December 13, 2023. The property has 7,700 square feet of built space and 3,636 square feet of additional air rights…
Victor Gjonaj through the entity 65-84 Rego Park LLC paid $9.2 million to the entity 65-84 Realty Co., LLC for the 65-unit residential elevator building (D1) at 65-84 Booth Street in Rego Park, Queens and vacant parcel (V0) at 66th Avenue in Rego Park, Queens. The deal closed on November 28, 2023 and was recorded on December 13, 2023. The two properties have 63,624 square…
A trustee managing seven loans with an original principal of $98.1 million in debt filed seven pre-foreclosure actions in federal court that were given to Emerald Equity Group and secured by 25 rental buildings in the Bronx with a total of 663 units. Sabal Capital originated the loans in 2019 and 2020. The Real Deal reported in September that Morningstar said the loans in this…
The trustee for securitized loan bondholders filed a pre-foreclosure action yesterday in U.S. District Court in Manhattan, alleging a loan secured by the rental buildings at 741 Hunts Point Avenue in Hunts Point and 801 Freeman Avenue in Morrisania, the Bronx, with an original principal of $11.87 million, was in default. Sabal Capital originated the loan in 2019 with borrower Emerald Equity Group. The two…
Zhidong Wu’s ZD Jasper Realty submitted a 122-unit condominium plan for two planned ground-up construction buildings at 489 Ninth Avenue and 501 Ninth Avenue in Hudson Yards, Manhattan. The filing does not disclose a sellout price, which must be disclosed by the time the plan is accepted. The project is named 489 & 501 9th Avenue Condominium On these lots, there are two active new…
MCR through the entity MCRopp New York Royal44 LLC as borrower signed a refi loan with lender Maxim Capital Group through the entity Maxim Credit Group, LLC valued at $30 million for the Royalton New York hotel building (HB) at 44 West 44th Street or 47 West 43rd Street in Midtown West, Manhattan. The deal closed on November 29, 2023 and was recorded on December…
Denver-based KSL Capital Partners refinanced $131.5 million in debt with lenders Wells Fargo and Citibank for three hotels, the Hyatt Union Square New York, the Hilton Garden Inn New York/Tribeca and the NU Hotel Brooklyn, in Manhattan and Brooklyn, in three separate transactions. The prior total debt was $121 million. In the first, KSL Capital Partners through the entity Hhlp Union Square Associates, LLC as…
Lightstone Group through the entity Bowery Street Associates LLC as borrower signed a refi loan with lender Apollo Global Management through the entity Athene Annuity And Life Company valued at $110 million for the Moxy NYC Lower East Side hotel building (H2) at 151 Bowery in Lower East Side, Manhattan. Moxy is a Marriott brand of hotels. The deal closed on August 29, 2023 and…
Cary Paik through the entity 922, LLC paid $1.6 million to Joseph Ohayon through the entity Yosi Oh Realty LLC for the retail building (K1) on a triangle-shaped parcel at 970 Flushing Avenue at the intersection with Forrest Street, in Bushwick, Brooklyn. The deal closed on November 30, 2023 and was recorded on December 11, 2023. The property has 1,200 square feet of built space…
The lender on the property, DLJ Mortgage Capital through the entity DLJ Mortgage Capital, Inc. acquired the three-unit building (C0) at 450 Carlton Avenue in Fort Greene, Brooklyn through a foreclosure auction, with a transfer price of $2 million. The transfer closed on November 27, 2023 and was recorded on December 11, 2023. The property has 2,700 square feet of built space and 4,035 square…
Salome Six LLC paid $3.9 million to Jack A. Ippolito and Mario Ippolito through the entity Primo Realty Inc. for the industrial building (E9) at 606 Dean Street in Prospect Heights, Brooklyn. The deal closed on December 1, 2023 and was recorded on December 11, 2023. The property has 4,000 square feet of built space and 493 square feet of additional air rights for a…
Two retail condominium units with $16.7 million in original principal debt owned by Ziel Feldman’s HFZ Capital Group that are at the base of the 35-unit condominium development at 505 West 19th Street in Chelsea are set to be sold at an auction on January 10, 2024, at the New York County Courthouse, according to a notice of sale dated December 8, 2023. HFZ Capital…
A venture affiliated with Carlyle Group and Blumenfeld Development Group paid $122.6 million to LSC Development for a storage building in Flushing and another one in Woodside in two separate transactions. Argentic Investment Management financed the acquisitions with an $84 million loan. In the larger of the two purchase transactions, Carlyle Group and Blumenfeld Development Group through the entity 34-01 CP IX Owner, L.L.C. paid…
Harry Einhorn through the entity Quay Plaza LLC as borrower signed a new construction loan with lender Popular Bank through the entity Popular Bank valued at $51.5 million for the 130-unit project at 79 Quay Street in Greenpoint, Brooklyn. On the lot, there is one active new building construction project for a 130-unit, residential (R-2) building. The project was submitted by Mark Rigerman with plans…
