Zyssel Reiner through the entity 1530 60th LLC as borrower signed a new construction loan with lender Ponce Bank through the entity Ponce Bank valued at $17 million for the development building (V1) at 1514 60th Street in Bensonhurst, Brooklyn. On the lot, there is one active new building construction project for a 54,025 square-foot office (B) building. The project was submitted by Royal Builders…
Lender Bullpath Capital acquired three New York City properties from borrower Yehuda Cohen that had a total transfer value of $10.99 million. In the most recent, Bullpath Capital through the entity 228 Lenox BPC Holdings, LLC acquired from Yehuda Cohen through the entity 228 Lenox Management LLC, the mixed-use building (K4) at 228 Lenox Avenue in Harlem, Manhattan. The transfer value was $2.6 million. The…
German investment firm Tatar Holding through the entity Tatar LMH LLC acquired an interest from Conway Capital through the entity 87 East 4th Street LLC valued at $7 million for eight-unit residential walkup building (C7) at 87 East 4th Street in East Village, Manhattan. The deal closed on November 3, 2023 and was recorded on November 15, 2023. The property has 4,700 square feet of…
Yehuda Klein through the entity K&H Association LLC paid $7.9 million to the entity 753 E 134th LLC for the industrial building (F1) at 753-755 East 134th Street in Mott Haven, Bronx. The deal closed on October 25, 2023 and was recorded on November 15, 2023. The property has 35,082 square feet of built space according to a PincusCo analysis of city data. The sale…
Lender A10 Capital acquired five high-end unsold condominium units from Continental Equities Group at 46 Lispenard Street in Tribeca with a transfer value of $19.5 million, which was the amount of a loan A10 provided to Continental in May 2019. In the deed transfer, A10 Capital through the entity 10 Baf 2019-B Reo-Lispenard, LLC acquired from to Continental Equities Group through the entity Lispenard 3J…
The Chetrit Group is seeking to demolish a damaged and structurally compromised Chelsea commercial building at 119-119 West 26th Street, according to lawsuit filed in New York State Supreme Court this week. The Chetrit Group owns the building which suffered a roof collapse in September 2023. The city issued a vacate order for the commercial and an undisclosed number of residential tenants. Two engineer reports…
Investors filed four separate bankruptcy petitions yesterday totaling $10.7 million in the Eastern District of New York in Brooklyn in efforts to retain control of their properties. In the largest by debt amount, $5.5 million, Yoel Perl through the entity PR Brooklyn 34 LLC, submitted a petition to halt a foreclosure auction of 1055 East 34th Street in Flatlands scheduled for today. A foreclosure auction…
United Construction & Development Group through the entity Hbc Corona LLC as borrower signed a refi loan with lender State Bank of Texas valued at $31.1 million for the 72-unit SpringHill Suites New York LaGuardia Airport at 112-15 Northern Boulevard in North Corona, Queens. The hotel property is divided into five commercial condominium units, and this loan covers all five. The deal closed on October…
Queensgate Investments through the entity 23 Lexington Associates LLC as borrower signed a loan modification with lender servicer Trimont through the entity Trimont, LLC valued at $147.2 million for the 26-unit hotel building (H2) at 135 East 23rd Street in Kips Bay, Manhattan. Trimont is a servicer of loans and the identity of the lender was not disclosed. The maturity date was extended to May…
Binpeng Ou and Su Zhen Weng through the entity Bin & Su LLC paid $3.2 million to John Po Sheng Hsu through the entity 111 Roosevelt Development LLC for the seven-unit residential walkup building (C7) at 108-52 Roosevelt Avenue in Corona, Queens. The deal closed on October 31, 2023 and was recorded on November 14, 2023. The property has 6,786 square feet of built space…
Maurice Kohan through the entity West End Enterprises Group LLC paid $3.4 million to Ofelia Roca and Sylvia Pena through the entity 620 Wea LLC for the 10-unit residential walkup building (C7) at 620 West End Avenue in Upper West Side, Manhattan. The deal closed on November 3, 2023 and was recorded on November 14, 2023. The property has 5,928 square feet of built space…
Pericles Notias through the entity Crescent Court, LLC paid $3.9 million for the two-unit mixed-use building (K4) at 23-57 31st Avenue in Astoria, Queens. The deal closed on October 13, 2023 and was recorded on November 14, 2023. The property has 5,126 square feet of built space and 9,370 square feet of additional air rights for a total buildable of 14,490 square feet according to…
Shimon Klein through the entity Translee LLC paid $4.7 million to Mendel Oppenheim through the entity Binyan Av Veem LLC for the six-unit mixed-use building (S9) at 196 Lee Avenue in Williamsburg, Brooklyn. The deal closed on November 1, 2023 and was recorded on November 14, 2023. The property has 11,010 square feet of built space according to a PincusCo analysis of city data. The…
City Urban Realty through the entity 143 Berry Holdings LLC paid $8.2 million to Dai Park through the entity JP Corban LLC for the six-unit mixed-use building (S5) at 143 Berry Street in Williamsburg, Brooklyn. The deal closed on November 2, 2023 and was recorded on November 14, 2023. The property has 5,050 square feet of built space and 51 square feet of additional air…
Tim Ziss’s Allied Properties through the entity 9201 LLC acquired the office building (O6) at 9201 4th Avenue in Bay Ridge, Brooklyn after the former owner filed bankruptcy to hold off a foreclosure process. The transfer value was $15.6 million. The former owners included Demetrios Spiropoulos through the entity SPL Partners LLC. Madison Realty Capital provided an $11.9 million loan to finance the acquisition. Constantine…
L+M Development Partners as tenant through the entity Fulton Park Preservation LLC signed a 99-year ground lease valued at $28.1 million with the Shnay family as landlord through the entity Fulton Park Associates, L.P. for the 112-unit residential walkup building (C1) at 53 Utica Avenue in Bedford Stuyvesant, Brooklyn and 97-unit residential walkup building (C1) at 1754 Fulton Street in Bedford Stuyvesant, Brooklyn. The deal…
Louis Greco Jr. filed a bankruptcy petition yesterday to gain breathing room and identify additional financing for a mostly-completed residential condominium project at 63 Columbia Street in the Columbia Street Waterfront District near Cobble Hill, Brooklyn. Greco originally filed plans in 2014 for the new construction, 11-unit building which is 75 percent to 80 percent complete, the petition said. Greco states in the petition its…
Five Points Development signed a senior construction and land loan totaling $109.8 million with Madison Realty Capital for a residential development in NoMad at 262 Fifth Avenue, which is part of a $180 million package that includes $50 million in mezzanine debt from Cottonwood Group and an additional $20 million in mezzanine debt from Madison Realty Capital, The Real Deal reported. On the lot, there…
Daniel Barbuto through the entity Tre Ragazzi Development, LLC paid $1.6 million to Easco Boiler Corp. through the entity 1173 Real Estate Holdings, LLC for the industrial building (E9) at 1173 Grinnell Place in Hunts Point, Bronx. The deal closed on November 3, 2023 and was recorded on November 13, 2023. The property has 5,162 square feet of built space and 5,161 square feet of…
Nicholas Cestaro through the entity 1157 Grinnell Place, LLC paid $2.2 million to Easco Boiler Corp. through the entity Cassanova Real Estate Holdings, LLC for the industrial building (E1) at 1157 Grinnell Place in Hunts Point, Bronx. The deal closed on November 3, 2023 and was recorded on November 13, 2023. The property has 1,976 square feet of built space and 18,028 square feet of…
