Xin Development Group International, the developer of the 92-unit condominium project Bloom on 45th at 500 West 45th Street in Hell’s Kitchen, Manhattan, sued lender BH3 Management in New York State court last week, under index number 161355/2023. The case is sealed, so the specifics were unknown. The case type is “commercial contract,” often focused on terms of a loan. Xin Development is a division…
Moses Freund’s VAJA Group through the entity Fordham VAJA LLC as borrower signed an initial loan with lender Accolend valued at $8.7 million for three residential walkup properties with 27 residential units including the 10-unit residential walkup building (C1) at 368 East 194th Street, the 10-unit residential walkup building (C1) at 364 East 194th Street and the seven-unit residential walkup building (C1) at 372 East…
Meadow Partners and operating partner Wharton Properties through the entity 14 Bedford Owner LLC as borrower signed an initial loan with lender Cerberus Capital Management through the entity CRE II Lender Sub II, LLC valued at $9.1 million for the 21-unit residential walkup building (C7) at 14 Bedford Street in Greenwich Village, Manhattan. The deal closed on November 17, 2023 and was recorded on November…
Klosed Properties, Namdar Realty Group, Silber Investment Properties and Ramin Abdolazadeh, through the entity 117 W57 Bh LLC (and others) as borrower signed a loan extension with lender Ladder Capital through the entity LCCM 2021-Fl3 Trust valued at $14.6 million for two residential walkup properties with 19 residential units including the 12-unit residential walkup building (C7) at 128 East 86th Street in Carnegie Hill, Manhattan…
The Lam Group through nine individual entities as borrowers signed a loan modification and extension with lender East West Bank valued at $42.5 million for the Aloft New York Brooklyn hotel building (H2) at 216 Duffield Street in Downtown Brooklyn, Brooklyn. The deal closed on November 13, 2023 and was recorded on November 22, 2023. The property has 94,420 square feet of built space according…
Developer John Po Sheng Hsu sold three new construction buildings in Corona to three separate buyers for a total of $9.7 million. In the first, Xiao Guo Huang through the entity Da Vinci 60 LLC paid $3.4 million to John Po Sheng Hsu through the entity 111 Roosevelt Development LLC for the seven-unit residential walkup building (C7) at 108-60 Roosevelt Avenue in Corona, Queens. The…
Samuel Palace through the entity 3213 Snyder Realty Group LLC paid $4.3 million to Jacob Hager through the entity 3213 Snyder Realty Corp. for the 38-unit residential walkup building (C1) at 3213 Snyder Avenue in East Flatbush, Brooklyn. The deal closed on November 20, 2023 and was recorded on November 22, 2023. The property has 31,500 square feet of built space according to a PincusCo…
Emanuel Magnioles through the entity Broadway Nema, LLC paid $4.8 million to Benny Loria through the entity 3720 Broadway LLC for the retail building (K4) at 37-20 Broadway and the adjacent building (K4) at 32-08 38th Street in Astoria, Queens. On these lots, there is one active new building construction project for a 16-unit, 14,740 square-foot R-2 building. The project was submitted by Salvatore Lucchese…
EMP Capital Group through the entity 888 Atlantic Avenue LP paid $25.635 million for the development site at 870-878 Atlantic Avenue and at 888 Atlantic Avenue in Prospect Heights, Brooklyn. This parcel is three blocks west of another large site EMP Capital Group is developing at 1034-1042 Atlantic Avenue. Elie Pariente’s EMP Capital Group purchased the property by acquiring the contract that Yoel Teitelbaum of…
Marx Development Group through the entity Douglaston Realty Associates LLC as borrower signed a refi loan with lender Tel Aviv Stock Exchange bondholders through the entity Mishmeret Trust Company Ltd. valued at $18.6 million for a large development parcel that has a 15-unit development project at 242-22 61st Avenue in Little Neck, Queens. On the lot, there is one active new building construction project for…
ZHL Group through the entity 428 East 9 LLC as borrower signed a new construction loan with lender 360 Capital Funding through the entity DB 360 LLC valued at $28.8 million for the 76-unit project at 428 East 9th Street in Kensington, Brooklyn. On these lots, there is one active new building construction project for a 76-unit, 52,957 square-foot residential (R-2) building. The project was…
GD Capital Group through the entity 13 Marcus Garvey Blvd Holdings LLC paid $2.1 million to Sharestates through the entity Chrondite Reo (5) Inc. for the five-unit mixed-use building (S5) at 13 Marcus Garvey Blvd in Bedford Stuyvesant, Brooklyn. The deal closed on October 24, 2023 and was recorded on November 21, 2023. The property has 3,750 square feet of built space and 3,748 square…
Alon Ashourzadeh through the entity 112 Berry LLC paid $2.5 million for the three-unit mixed-use building (S3) at 112 Berry Street in Williamsburg, Brooklyn. The deal closed on November 9, 2023 and was recorded on November 21, 2023. The property has 3,600 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $694 per…
Hiuian Cheng through the entity 312 Atlantic Avenue LLC paid $5 million to Tidal Real Estate Partners through the entity 312 Atlantic Owner LLC for the mixed-use building (K4) at 312 Atlantic Avenue in Boerum Hill, Brooklyn. The deal closed on November 3, 2023 and was recorded on November 21, 2023. The property has 20,500 square feet of built space according to a PincusCo analysis…
Tennis education firm Court 16 through the entity Court 16 LIC Properties LLC paid $5.2 million to Edward Farrell through the entity Gratz Industries, Inc. for the mixed-use building (K9) at 13-06 Queens Plaza South in Long Island City, Queens. Court 16 already occupies the property through a lease. The deal closed on October 27, 2023 and was recorded on November 21, 2023. The property…
Jin E. An through the entity SMA Ave A LLC paid $5.3 million to the entity 81 Avenue A LLC for the four-unit mixed-use building (S4) at 81 Avenue A in the East Village, Manhattan. The deal closed on November 13, 2023 and was recorded on November 21, 2023. The property has 7,544 square feet of built space and 2,380 square feet of additional air…
Anibal Rodriguez Jr. through the entity 228 Brook Realty LLC paid $6.5 million to Teodulo Diaz and Narciza Diaz through the entity Terrinaz Enterprises, LLC for the retail building (K1) at 220 Brook Avenue in Mott Haven, Bronx. The deal closed on October 31, 2023 and was recorded on November 21, 2023. The property has 15,000 square feet of built space and 21,450 square feet…
REDA Holdings through the entity REDA W Broadway LLC paid $7.5 million to Bridge Investment Group through the entity BDS II Ny 355 W Broadway LLC for the retail building (O5) at 355 West Broadway in SoHo, Manhattan. Bridge Investment Group acquired the property as the former lender, in October 2022 through a deed in lieu of foreclosure from Quality Capital USA. The new deal…
Nelson Braff and Keith Kantrowitz through the entity MRK Jacksonville, LLC paid $11 million to Adellco through the entity 1295 Property LLC for the larger of two retail condominium units at the residential and retail condominium building 1295 Madison Avenue in Carnegie Hill, Manhattan. The deal closed on November 9, 2023 and was recorded on November 21, 2023. The property, NRU2, has 3,024 square feet…
Sassan Mahfar’s SMA Equities signed two refinance loans totaling $17.4 million with Societe Generale for two residential walkup buildings in the Lower East Side of Manhattan. The prior debt was approximately $16 million provided by Santander Bank. In the first, SMA Equities through the entity 303 Brow LLC as borrower signed a refi loan with lender Societe Generale through the entity Societe Generale Financial Corporation…
