Jay Group and Jacob Aini through the entity 3761 207th Street Realty LLC as borrower signed a new construction loan with lender Bank Hapoalim valued at $92 million for the 270-unit project at 401 West 207th Street in Inwood, Manhattan. On the lot, there is one active new building construction project for a 270-unit, 210,932 square-foot residential (R-2) building. The project was submitted by Jay…
Faraj Srour and Joseph Stavrach through the entity 2 West 46 Borrower II LLC as borrower signed a refi loan with lender Bank of Montreal and Citibank valued at $101.5 million for two office properties including the office building (O4) at 363 Lexington Avenue in Grand Central, and the office building (O6) at 2 West 46th Street in Midtown West, Manhattan. The deal closed on…
Quynh T. Nguyen through the entity K.E.P. Truong LLC paid $5.1 million to R.A. Cohen & Associates through the entity 129 E 29 St Associates, LLC for the six-unit mixed-use building (S5) at 137 Lexington Avenue in Kips Bay, Manhattan. The deal closed on September 14, 2023 and was recorded on October 3, 2023. The property has 5,708 square feet of built space and 2,862…
CMA CGM Group through the entity Cma Cgm Sa paid $5.6 million to Global Container Terminals through the entity Gct Usa Gp LLC for the specialty building (T1) at 300 Western Avenue in Bloomfield, Staten Island and development parcel (V1) at 3599 Richmond Terrace in Bloomfield, Staten Island. The deal closed on August 31, 2023 and was recorded on October 3, 2023. The two properties…
The entity 38-17 23rd St LLC paid $8 million to Sae Kwon Kim through the entity Eastern Koex Realty Corp for the development site with 118,800 square feet buildable at 38-17 23rd Street and 38-18 24th Street in Long Island City, Queens. Marcus & Millichap marketing materials, from an expired listing, suggest the buyer could build a hotel or office building on the site. The…
MacArthur Holdings through the entity 415 Retail LLC, paid $11.9 million to the former lender which previously took control of the retail condominium unit at 415 West 13th Street in Meatpacking District, Manhattan from the former borrower in a foreclosure action. This is tax lot 1001, known as unit 1S. MacArthur Holdings already owns a six-floor, 47,932-square-foot office condominium unit, 3S, in the building, which…
Penske Truck Leasing through the entity Penske Truck Leasing Co., L.P. paid $25.4 million to the estate of Frederick A. Nurge for the industrial building (E1) at 145-52 167th Street and two adjacent parcels including 165-17 146th Avenue, in Springfield Gardens, Queens. Penske paid $6 million in 2021 for the other tax lot on the block, and now controls the entire tax block. The deal…
Owners Benjamin Akkad and Nathan Accad filed a bankruptcy petition yesterday in Brooklyn to halt an auction set for today, October 4, 2023, scheduled to satisfy a $36.2 million judgment awarded to developer Sam Boymelgreen over a 2013 ground lease at 255 Butler Street in Gowanus, Brooklyn. Boymelgreen requested in court filings to make a credit bid for the property using the $36.2 million judgment….
Haussmann Development and Kriss Capital through the entity 827 Sterling Owner LLC as borrower signed a construction loan with lender Urban Standard Capital through the entity USC 827 Sterling LLC, valued at $38.5 million for the development at 827 Sterling Place in Crown Heights, Brooklyn. On the lot, there is one active new building construction project for a 79-unit, 53,098 square-foot R-2 building. The project…
Read Property Group and Paul Wasserman through the entity 75 Maiden Lane LLC as borrower signed a loan modification with lender Flagstar Bank valued at $43.7 million for the office building (O6) at 75 Maiden Lane in the Financial District, Manhattan. The deal closed on September 26, 2023 and was recorded on October 2, 2023. The prior lender was Flagstar Bank which held debt that…
Vantage Elevation through the entity G.A.L. Manufacturing Company, LLC as borrower signed a refi loan with lender Royal Bank Of Canada valued at $45 million for six properties including the industrial building (F1) at 585 Gerard Avenue in Concourse, Bronx, development building (V9) at N/A East 153rd Street in Concourse, Bronx, and development building (V1) at N/A Cromwell Avenue in Concourse, Bronx. The deal closed…
Coney Realty Group through the entity 121 Sherman Chalet LLC paid $2.6 million to Barberry Rose Management Company through the entity Bsf Inwood Holding LLC for the 25-unit residential walkup building (C1) at 121 Sherman Avenue in Inwood, Manhattan. This is the most recent in a string of sales in which Coney Realty Group bought 16 properties with a total of 446 residential units for…
Penn South Capital through the entity 110 S 2 RLA LLC paid $3 million to Skylight Real Estate Partners through the entity Broadway Williamsburg Four LLC for the four-unit building (C3) at 110 South 2nd Street in Williamsburg, Brooklyn. The deal closed on September 26, 2023 and was recorded on October 2, 2023. The property has 4,180 square feet of built space according to a…
The Homapour family’s Crown Investments through the entity Crown 347, LLC paid $3.2 million to Stephen G. Lande through the entity 347 Sixth Avenue LLC for the four-unit building (C3) at 347 6th Avenue in Park Slope, Brooklyn. The deal closed on September 26, 2023 and was recorded on October 2, 2023. The property has 4,345 square feet of built space according to a PincusCo…
Joel Weiss through the entity 144 Sunshine LLC paid $3.3 million to Bluestone Group through the entity 450 144th Holdings LLC for the 18-unit residential elevator building (D7) at 450 East 144th Street in Mott Haven, Bronx. The deal closed on September 18, 2023 and was recorded on October 2, 2023. The property has 24,662 square feet of built space according to a PincusCo analysis…
Lender First-Citizens Bank & Trust Company filed a pre-foreclosure action alleging a $28.75 million loan secured by a large office development and a planned 187-unit residential development in Pelham Bay, the Bronx, fell into default last year and despite a forbearance period, the 2019 loan remains unpaid. The lender sent a letter June 2, 2022 to the developer, Mark Caller’s Marcal Group, announcing a loan…
Harry Macklowe’s Macklowe Properties through the entity MIP One Wall Street Acquisition LLC as borrower signed a refi loan with lender Deutsche Bank through the entity Deutsche Bank Luxembourg valued at $664.5 million for 479 unsold condominium units in the building with 575 residential units 1 Wall Street in Financial District, Manhattan. The deal closed on September 27, 2023 and was recorded on September 29,…
Fotini Theoharidou through the entity FBG Broadway Inc. paid $3 million for the four-unit mixed-use building (S9) at 37-02 30th Avenue in Astoria, Queens. The deal closed on July 6, 2023 and was recorded on September 29, 2023. The property has 4,400 square feet of built space and 1,600 square feet of additional air rights for a total buildable of 6,000 square feet according to…
Empire State Realty Trust paid $26.4 million to Mann Group for two adjacent buildings at 157 to 161 Wythe Street in Williamsburg, Brooklyn, in two transactions. The Real Deal reported in February 2022 that ESRT intended to move deeper into the multifamily market. The REIT’s CFO Christina Chiu said on a 2022 earnings call that the company was looking for multifamily deals where it can…
Maguire Capital Group, the former lender, through the entity FHP 26 LLC acquired from Joseph Fischman through the entity 4218 Partners LLC, the office building (O7) at 4218 Ft Hamilton Parkway in Borough Park, Brooklyn. The transfer was through a bankruptcy, with the transfer valued at $9.2 million. The deal closed on September 20, 2023 and was recorded on September 28, 2023. On the lot,…
