Transfers

CACHED

Maguire Capital acquires 49 unsold condos in Sheepshead Bay, borrows $19.5M from Lightstone

Sale — 10/24/2023 7:37

Maguire Capital Group through the entity Emmons Avenue Owner LLC acquired 49 unsold condominium units and additional parking spaces from developer Chaim Miller at the 75-unit Breakers at 3112-3144 Emmons Avenue in Sheepshead Bay, Brooklyn, with a transfer value of $19.1 million. Maguire Capital bought a defaulted $18 million note from Investors Bank in 2021. Investors Bank had filed a pre-foreclosure action against the developers,…

Chaim Wieder signs $8.8M construction loan for 38-unit project in Morris Heights

Loan — 10/23/2023 6:39

Chaim Wieder through the entity 84 West 174 Project LLC as borrower signed a new construction loan with lender Popular Bank through the entity Popular Bank valued at $8.8 million for the property at 86 West 174th Street in Morris Heights, Bronx. On these lots is a 38-unit, 20,097 square-foot residential (R-2) building submitted by Isaac Rosenberg with plans filed September 1, 2022 and permitted…

Aglin Zefi signs $12.5M construction loan for 55-unit project in Mt Hope

Loan — 10/23/2023 6:30

Aglin Zefi through the entity 66 East 177th LLC as borrower signed a new construction loan with lender NorthEast Community Bank valued at $12.5 million for the 55-unit project at 66 East 177th Street in Mt Hope, the Bronx. On the lot, there is one active new building construction project for a 55-unit, 36,923 square-foot R-2 building. The project was submitted by Aglin Zefi and…

Concrete recycling firm pays $1.7M for lot in Hunts Point

Sale — 10/23/2023 6:14

Domnick Eugene of Bronx City Recycling through the entity Viele Real Estate Holding Co., Inc. paid $1.7 million to James Ruggiero and Louis Ruggiero through the entity 275 Halleck Street LLC for the 4,999-square-foot industrial yard (Z9) at 275 Halleck Street in Hunts Point, Bronx. Bronx City Recycling recycles fill materials such as concrete, rocks and bricks. The deal closed on October 12, 2023 and…

Two bankruptcies in Queens, Brooklyn total $16M

Other — 10/23/2023 5:59

Last week two long-time property owners filed bankruptcy petitions in New York totaling $16.48 million covering a property in Queens and another in Brooklyn. These were the largest of the five bankruptcy petitions filed last week totaling nearly $24 million. In the largest, the owner of an 80-unit rental building located at 143-30 Sanford Avenue in Flushing, Queens, Vincent Garofalo, filed a Chapter 7 bankruptcy…

$8M pre-foreclosure filed against one-time Emerald Equity rentals in Bronx

Sale — 10/22/2023 12:19

The note holders for five loans totaling $8 million in the Bronx filed pre-foreclosure actions claiming the loans secured by five properties with 71 units were in default. The properties were owned by the workforce housing real estate company Emerald Equity Group, led by Isaac Kassirer. A person familiar with the properties , in an email to PincusCo, said Emerald Equity Group is no longer…

Four residential sales above $10 million, totaling $115 million, recorded Oct. 20, 2023

Sale — 10/20/2023 10:10

220 Cps Parkview, LLC paid $75 million to Dcj220cps Trust for a condo unit at 220 Central Park South in Midtown West, Manhattan. The deal closed on October 12, 2023 and was recorded on October 19, 2023. The property has 6,591 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $11,379 per the…

Carlyle Group signs $57.8M loan with Invesco for 27 properties in Brooklyn, Queens

Loan — 10/20/2023 9:54

Carlyle Group through the entity Townhouse Rental, L.L.C. as borrower signed a loan with lender Invesco Real Estate through the entity Invesco CMI Investments, L.P. valued at $57.8 million covering 27 properties with 96 residential units including the two-unit 1-4 family building (B2) at 1217 Decatur Street in Bushwick, Brooklyn, 10-unit residential walkup building (C1) at 212 Malcolm X Boulevard in Bedford Stuyvesant, Brooklyn, and…

Zalmen Wagschal sells 3 walkups in East Flatbush for $3.1M

Sale — 10/20/2023 9:41

Mosha Mann through the entity Snyder East 35 LLC paid $3.1 million to Zalmen Wagschal through the entity Hart Dekalb LLC for the 10-unit residential walkup building (C1) at 3421 Snyder Avenue in East Flatbush, Brooklyn, six-unit residential walkup building (C2) on East 35th Street in East Flatbush, Brooklyn, and six-unit residential walkup building (C2) on East 35th Street in East Flatbush, Brooklyn. The deal…

Maurice Kohan pays $4.8M to Sackman Enterprises for 15-unit walkup in Hell’s Kitchen

Sale — 10/20/2023 9:37

Maurice Kohan through the entity W 58 Enterprises Group LLC paid $4.8 million to Sackman Enterprises through the entity 444 West 58 Realty, LLC for the 15-unit residential walkup building (C4) at 444 West 58th Street in Hell’s Kitchen, Manhattan. The deal closed on October 4, 2023 and was recorded on October 19, 2023. The property has 9,635 square feet of built space and 5,471…

Xiaogang Wang pays $14.4M to Avery Management for two buildings in Flatiron District

Sale — 10/20/2023 9:35

Xiaogang Wang paid $14.4 million to Avery Management for the commercial buildings at 33 and 35 West 14th Street in the Flatiron District in two transactions. In the first, Xiaogang Wang through the entity Hw W 14th St LLC paid $9 million to Avery Management through the entity 33 West 14th Street LLC for the office building (O2) at 33 West 14th Street in Flatiron…

Buyer pays $10M for retail in Greenwich Village

Sale — 10/20/2023 9:27

UPDATED: An entity at the address of Sugar Hill Capital Partners, 44 West 8th Owner, LLC paid $10 million to Steven Grundwerg through the entity 44-46 West 8th LLC for the retail building (K1) at 44 West 8th Street in Greenwich Village, Manhattan. A representative of Sugar Hill said in an email “Sugar Hill did not acquire this property. We have no further comment.” T30…

Morris Meisels pays $10M for 24-unit rental in Greenpoint

Sale — 10/20/2023 9:11

Morris Meisels through the entity Eagle BSD LLC paid $10 million to Shmuel Fruchter and Tomer Fruchter through the entity Best On Eagle, LLC for the 24-unit residential elevator building (D1) at 182 Eagle Street in Greenpoint, Brooklyn. The deal closed on October 13, 2023 and was recorded on October 19, 2023. The property has 22,455 square feet of built space and 74 square feet…

Lender Columbia Pacific Advisors acquires Tribeca building following $11.5M loan default

Sale — 10/20/2023 8:51

Seattle-based Columbia Pacific Advisors through the entity CPIF 44 Hudson LLC, as the former lender, acquired from Prime Manhattan Development through the entity 44 Hudson Street JV LLC for the three-unit office building (O8) at 44 Hudson Street in Tribeca, Manhattan. The transfer price was set at from $11.9 million, slightly above the $11.5 million defaulted mortgage. The investment firm Chesterfield Faring Ltd. was a…

GO-RE Partners pays $28.2M to Greystone for 77-unit rental in East Harlem

Sale — 10/20/2023 8:32

GO-RE Partners through the entity 69e125 Equities LLC paid $28.2 million to Greystone Development through the entity 69 East 125 Street Owner LLC for the 77-unit residential elevator building (D6) at 69 East 125th Street in East Harlem, Manhattan. The deal closed on October 16, 2023 and was recorded on October 19, 2023. The property has 63,445 square feet of built space and 1,510 square…

VAJA Group signs $12.3M construction loan for 32-unit project in Kingsbridge Heights

Loan — 10/19/2023 7:52

Moses Freund’s VAJA Group through the entity Reservoir Residences LLC as borrower signed a new construction loan with lender Popular Bank valued at $12.3 million for the 32-unit development at 3103 Sedgwick Avenue in Kingsbridge Heights, Bronx. On the lot, there is one active new building construction project for a 32-unit, 21,611 square-foot R-2 building. The project was submitted by VAJA Group and filed by…

Uikun Lee signs $27.2M refi with Woori America for office in Penn Plaza

Loan — 10/19/2023 7:48

Uikun Lee through the entity Montague Lee 32 LLC as borrower signed a refi loan with lender Woori America Bank valued at $27.2 million for the office building (O6) at 22 West 32nd Street in Penn Plaza, Manhattan. The deal closed on October 6, 2023 and was recorded on October 18, 2023. The prior lender was Woori America Bank which held debt that had an…

Tri-Messine Construction pays $4M for industrial in East New York

Sale — 10/19/2023 7:44

Tri-Messine Construction Company through the entity 1002 Alabama Ave LLC paid $4 million to Agostino Vona through the entity Alabama Realty, LLC for the industrial building (F2) at 1002 Alabama Avenue in East New York, Brooklyn. The deal closed on October 11, 2023 and was recorded on October 18, 2023. The property has 8,000 square feet of built space and 12,000 square feet of additional…

Rajive Maret pays $4.5M to CloudKitchens for industrial in Mt Eden

Sale — 10/19/2023 7:41

Rajive Maret through the entity Cromwell Inwood, LLC paid $4.5 million to CloudKitchens through the entity 1414-1424 Cromwell Ave Brx LLC for the industrial building (E9) at 1414 Cromwell Avenue in Mt Eden, Bronx. The deal closed on October 10, 2023 and was recorded on October 18, 2023. The property has 25,392 square feet of built space and 1,339 square feet of additional air rights…

Lions Group pays $16M for 22-unit walkup in West Village

Sale — 10/19/2023 7:39

Lions Group through the entity 107 Christopher LLC paid $16 million to Elliot Sohayegh through the entity NYC Chris Holdings LLC for the 22-unit residential walkup building (C7) at 107-109 Christopher Street in West Village, Manhattan. The deal closed on October 13, 2023 and was recorded on October 18, 2023. The property has 17,226 square feet of built space according to a PincusCo analysis of…