Alex Lau’s Ampiera Group through the entity 4502 Sunnyside LLC as borrower signed a new construction loan with lender Ponce Bank valued at $28 million for the 63-unit development (V1) at 45-02 Queens Boulevard in Sunnyside, Queens. On the lot, there is one active new building construction project for a 63-unit, 57,771 square-foot R-2 building. The project was submitted by Alex Lau and filed by…
Isaac Lefkowitz through the entity 329 E 52nd LLC paid $3.4 million to Bart Murray through the entity 329 E. 52 Realty LLC for the nine-unit residential walkup building (C7) at 329 East 52nd Street in Turtle Bay, Manhattan. The deal closed on August 3, 2023 and was recorded on August 9, 2023. The property has 6,366 square feet of built space and 1,167 square…
Neue Urban through the entity 10 Clermont LLC paid $3.9 million to Oren Hakim through the entity 194 Utica LLC for the seven-unit residential walkup building (C7) at 10 Clermont Avenue in Fort Greene, Brooklyn. The deal closed on July 31, 2023 and was recorded on August 9, 2023. The property has 5,240 square feet of built space according to a PincusCo analysis of city…
Andrea D’Alessandro through the entity GEF Development Corporation paid $6.2 million to Aryeh Realty for the mixed-use building (K4) at 1320 Madison Avenue in Carnegie Hill, Manhattan. The building was previously the address frequently used by Aryeh Realty for its special purpose entities. The deal closed on August 4, 2023 and was recorded on August 9, 2023. The property has 3,776 square feet of built…
Camber Property Group paid $9.5 million to the owners of the electrical supply company Legion Lighting for two parcels making up a 63-unit development site in East New York in two separate transactions. At the same time, Camber obtained an $89.6 million construction loan from Citibank. On the lot, there is one active new building construction project for a 63-unit, 52,914 square-foot R-1 building. The…
Jaspinder Sandhu through the entity 93rd Rego Park LLC paid $23.6 million to Matt Development through the entity 9277qb LLC for a long-term ground lease controlling the mixed-use retail building (K4) at 92-77 Queens Boulevard in Rego Park, Queens. The deal closed on July 31, 2023 and was recorded on August 9, 2023. The property has 61,780 square feet of built space and 9,284 square…
Boston Properties through the entity BP 347 Madison Associates, LLC as tenant signed a $35.2 million ground lease with the Metropolitan Transportation Authority as landlord for four parcels, including the office buildings (O4) at 341, 343 and 347 Madison Avenue in Grand Central, Manhattan. This is a 102-year lease, expiring August 1, 2125. The Real Deal reported in 2021 on the plan to built a…
Silverstein Properties and Metro Loft Management through the entity 55 Broad Street Owner LLC paid $172.5 million to Rudin Management through the entity 55 Broad Street L.P. for the office building (O4) at 55 Broad Street in Financial District, Manhattan. They plan to convert the building to 571 market-rate rental residential apartments. The Rudin family will retain a stake in the project, according to a…
Lender Global Bank filed a $10.17 million pre-foreclosure action against the owners of two mixed-use buildings in Chinatown, Manhattan, 43 Mott Street and 45 Mott Street that have a combined 27 residential units. LINK The borrower entities 43 Mott Realty Owner LLC and Tai Cheung Realty Inc. are led by Kevin Ye and Ping Cheung, who are described as guarantors in the complaint. Global Bank…
The entity JH 35 LLC with the signatory Robert Favata, paid $14.5 million to Bronstein Properties through the entity Jackson Heights 35 LLC for the three elevator buildings at 94-05 35th Avenue, 94-19 35th Avenue and 95-05 35th Avenue with a total of 106 units, in Jackson Heights, Queens. The deal closed on June 14, 2023 and was recorded on August 8, 2023. The contract…
An affiliate of Unity Preparatory Charter School of Brooklyn through the entity 584 Driggs FONB, LLC paid $19.12 million to a partnership including David Dweck and Flatiron Real Estate Investors, through the entities Duke 186 N 6 LLC, Ancona 186N6 LLC (and others) for the three—story, 17,638-square-foot school building at 584 Driggs Avenue in Williamsburg, Brooklyn. The deal closed on July 31, 2023 and was…
Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $4.58 million to Alon Ashourzadeh through the entity 169 Montrose LLC for the five-unit, walkup building at 169 Montrose Avenue in Williamsburg, Brooklyn. The deal closed on July 26, 2023 and was recorded on August 8, 2023. The contract date was July 14, 2023. Ashourzadeh bought the building in June 2022, for $2.2 million. The…
UPDATED 4:03 p.m., August 9, 2023: Adam Nagin of Superior Management and L&L Capital Partners through the entity Eulisis Capital LLC paid $12.4 million for the foreclosed six-story, 41,400-square-foot warehouse building at 42-45 12th Street in Astoria, Queens. L&L Capital Partners was the prior lender. The deal closed on July 28, 2023 and was recorded on August 8, 2023. The contract date was July 28,…
Bolla Oil through the entity Bolla EM Realty LLC paid $9.5 million for the 2,450-square-foot gas station on a 20,000 square foot lot at 71-08 Northern Boulevard in Jackson Heights, Queens that was the subject of a foreclosure action. The deal closed on August 2, 2023 and was recorded on August 8, 2023. The contract date was June 9, 2023. Evgeny Freidman through the entity…
JPMorgan Chase files $5M pre-foreclosure in Chelsea: Lender JPMorgan Chase filed a $5 million pre-foreclosure action against the owners of 144 Eighth Avenue in Chelsea, Manhattan. The building is a three-story walkup with five residential units and a total of 7,662 square feet on a corner lot with 26 feet along Eighth Avenue and 100 feet facing 17th Street. The owner entity is Chelsea Business…
Abraham Sharabi of The Brooklyn Laundry Company using the entity AS Flatbush Ave LLC paid $3 million to the Bridge Multicultural & Advocacy Project through the entity CBP of Brooklyn, Inc. for the four-parcel development site at 1870-1884 Flatbush Avenue in Midwood, Brooklyn. The signatory for the Bridge Multicultural & Advocacy Project, also known as The Bridge MCP, is Mark Meyer Appel, executive director of…
Fishel Schlesinger through the entity 245 Franklin, LLC paid $7.6 million to the estate of Victor Battaglia through the entity The Franklin Mint, LLC for the 16-unit development site at 245 Franklin Avenue in Bedford Stuyvesant, Brooklyn. The building was involved in a pre-foreclosure action following the death of the prior developer. Victor Battaglia was a passenger who was killed in a high-speed car crash…
A developer who planned to convert a two-story commercial building at 80-82 Ainslie Street in Williamsburg, Brooklyn, to a five-story mixed-use property with 16 residential units, filed for bankruptcy protection in Manhattan yesterday, claiming the property was worth $15.7 million but had liabilities of $18.2 million. The project has been plagued with construction problems that pre-date Covid, according to court filings. Petition LINK Bankruptcy 23-22587-shl…
Nicholas Notias through the entity 35th Street Realty, LLC as borrower signed a loan with lender Webster Bank valued at $7 million for the 20-unit residential elevator building (D1) at 28-15 35th Street in Astoria, Queens. The deal closed on July 31, 2023 and was recorded on August 4, 2023. The property has 16,685 square feet of built space according to a PincusCo analysis of…
Sapphire Holdings Group through the entity 217-44 Realty LLC as borrower signed a loan with lender Flushing Bank valued at $8.8 million for the industrial building (F5) at 217-44 98th Avenue in Queens Village, Queens. The deal closed on July 14, 2023 and was recorded on August 4, 2023. The property has 66,978 square feet of built space according to a PincusCo analysis of city…
