Aron Schwartz through the entity 2667 Fulton LLC paid $6.2 million to Abdul J. Awan for the adjacent vacant parcels at 81 New Jersey Avenue and 2667 Fulton Street in Cypress Hills, Brooklyn. On these lots, there is one active new building construction project for a six-unit, 1,248 square-foot R-2 building. The project was submitted by Aron Schwartz with plans filed March 16, 2022 and…
Sabet Group through the entity 504-508 E 12 Street LLC paid $19.5 million to Kushner Companies through the entity Village KF 504 East 12th LLC for the 28-unit residential walkup building (C7) at 504 East 12th Street in Alphabet City, Manhattan and 28-unit residential walkup building (C7) at 508 East 12th Street in Alphabet City, Manhattan. The deal closed on November 8, 2023 and was…
Development firm Astral Weeks and investor Miguel Oks through the entity 111 Franklyn LLC paid $23 million to the principals of the defunct Simon Baron Development and its partner Beach Point Capital Management through the entity 12 Franklin 197 LLC for the retail building (K4) at 12 Franklin Street in Greenpoint, Brooklyn. RIPCO Real Estate marketed the property as a potential development site with 133,769…
The private investor Elisa Wietschner through the WFIG Trust filed a lawsuit November 8, 2023, in Manhattan State Supreme Court alleging a $1.049 million loan to Arch Companies related to the long-delayed redevelopment of a small property in Hudson Square, 9 Vandam Street, was in default. She is seeking repayment of the loan. Case LINK According to the complaint, the $1.049 million was “emergency bridge…
Los Angeles-based lender 8th Bridge Capital through the entity Manhattan Real Estate Fund LP filed a $19.5 million action on November 9, 2023, against developer David Paz and his Omnia Group, which developed the Sister City Hotel at 225 Bowery in the Lower East Side, in Manhattan. The lender is seeking repayment of the loan. The property is now operating under the name Untitled at…
The lender 6902 Austin St Lender LLC, with anonymous ownership, filed an $8.25 million pre-foreclosure action on November 9, 2023, related to three adjacent tax lots with the addresses 68-90 and 69-02 Austin Street composed of a commercial property and two vacant tax lots. The properties are owned by the entity Austin Properties Enterprises LLC, which counted Faraidoon Golyan and Bijan Golyan as signatories. Bijan…
A representative for the sprawling portfolio of All Year Management properties, filed to place the 10-unit residential buildings at 1157 Myrtle Avenue in Bushwick, Brooklyn, in bankruptcy protection on November 9, 2023, to block a foreclosure auction set for that day. The notice of sale set the lien at approximately $5.96 million. The note holder pursuing the foreclosure case is Maverick Real Estate Partners, which…
A grandson and daughter of the late real estate titan Sol Goldman filed lawsuits in Delaware and Manhattan last week, claiming they have been cut out of portfolio management decisions despite family agreements that require additional consent. The estate of Sol Goldman, which operates under the name Solil Management as well as individual property companies, claims to own some 400 properties in New York City…
The entity 1582 York Avenue LLC with anonymous ownership paid $5.8 million to Townhouse Management Company through the entity 1582 York LLC for the 16-unit residential walkup building (C7) at 1582 York Avenue in Yorkville, Manhattan. The deal closed on October 16, 2023 and was recorded on November 9, 2023. The property has 7,700 square feet of built space and 10,983 square feet of additional…
Candor Capital through the entity Cedar St 1613 Holdings LLC paid $4.5 million to Yousef Lati through the entity 1613 Cedar LLC for the development building (V0) at 1611-1615 Cedar Street in Midwood, Brooklyn. At the same time Candor Capital through the entity Cedar St 1613 Holdings LLC as borrower signed a new construction loan with lender S3 Capital through the entity S3 RE Funding…
RXR Realty through the entity C & K 1285 Owner LLC as borrower signed a refi loan with lender AIG and Morgan Stanley through the entity American General Life Insurance Company valued at $731 million for the office building (O4) at 1285 Avenue Of The Americas in Midtown West, Manhattan. This is part of a $980 million refinance for the building on a loan with…
Park-It Management and Gary Spindler through the entity Chelsea W 20 LLC paid $4.8 million to Hugh Heller through the entity Servwel Garage Company L.L.C. for the industrial building (G1) at 148 West 20th Street in Chelsea, Manhattan. The deal closed on October 31, 2023 and was recorded on November 9, 2023. The property has 20,215 square feet of built space and 11,856 square feet…
Moise Mizrahi through the entity 46 W 87th Street LLC paid $6 million to Jill Drachman through the entity Jbg LLC D/B/A JBG Family LLC for the 13-unit residential walkup building (C5) at 46 West 87th Street in Upper West Side, Manhattan. The deal closed on November 2, 2023 and was recorded on November 9, 2023. The property has 8,861 square feet of built space…
Hengjiang Mu through the entity Cpnyc88 LLC paid $14 million to Sam Chang of McSam Hotel Group through the entity Wv Marina Properties LLC for unsold condominium units at the Waterview Marina Condominiums at 14-34 110th Street in College Point, Queens. The deal closed on October 23, 2023 and was recorded on November 9, 2023. The 45 units have 67,047 square feet of built space…
UPDATED: The Brodsky Organization, GFP Real Estate, and Sorgente Group recorded two purchase transactions that totaling just under $47 million that bought out former partners at the Flatiron Building at 175 Fifth Avenue in Flatiron District, Manhattan. The two former partners were Nathan Silverstein and Gregg Schenker. The sale was precipitated by a partnership dispute between GFP and Sorgente, on one side, and Silverstein on…
UPDATED 10:20 a.m., November 10, 2023: MSD Partners, which manages some of Michael Dell’s assets, made a preferred equity investment of approximately $100 million this month in the fee position under the 324-unit Carnegie House cooperative at 100 West 57th Street in Midtown West, according to sources with knowledge of the deal. Michael Dell, through MSD Capital (now known as DFO Management) and MSD Partners,…
Timber Equities through the entity 168 W. 225th LLC as borrower signed a new construction loan with lender Bank Hapoalim through the entity Bank Hapoalim B.M. valued at $44 million at 168-174 West 225th Street in Marble Hill, Manhattan. The deal closed on October 24, 2023 and was recorded on November 8, 2023. The prior lender was Skybrook Capital which held debt that had an…
Joel Zupnick through the entity Sutphin Boulevard Equities LLC as borrower signed a new construction loan with lender Scale Lending, an affiliate of developer Slate Property Group, through the entity Scale Jamaica Lender LLC valued at $142 million for the property at 147-35 95th Avenue in Jamaica, Queens. The Commercial Observer first reported on the loan last month. On the lot, there is one active…
Angela Gazivoda through the entity 3929 Carpenter LLC paid $2.7 million to through the entity 3929 Carpenter Ave. LLC for the 36-unit residential elevator building (D1) at 3929 Carpenter Avenue in Wakefield, Bronx. The deal closed on November 1, 2023 and was recorded on November 8, 2023. The property has 35,040 square feet of built space according to a PincusCo analysis of city data. The…
Sam Strulovitch through the entity 117san LLC paid $3 million to Diem Lam through the entity 117 Sanford LLC for the industrial building (G9) at 117 Sandford Street in Bedford Stuyvesant, Brooklyn. On the lot, there is one active major alteration construction project for a 12,265 square-foot building. The project was submitted by Aryeh Mendlowic with plans filed March 15, 2023 and it has not…
