David Kramer through the entity DK Kings 1 LLC paid $31.2 million to Joel Schwartz through the entity Broadway 1884 LLC for a 49 percent stake in the 66-unit residential elevator building (D6) at 1884 Broadway in Bedford Stuyvesant, Brooklyn. At the same time, the parties through the entity Broadway 1884 LLC as borrower signed a loan with lender Bellco Credit Union valued at $40…
The private lender James Doyle, the founder and president of Industrial Repair Service of Cumming, Georgia, filed a pre-foreclosure action against the the American Irish Historical Society seeking the sale of the historic townhouse at 991 Fifth Avenue in Carnegie Hill, to repay an allegedly defaulted $3 million loan. Doyle allegedly provided the $3 million loan to the American Irish Historical Society that had a…
Casco Development filed a chapter 11 petition in U.S. Bankruptcy Court in Delaware with a plan to sell the vacant development site at 540 West 21st Street in Chelsea, Manhattan to the entity 550W21 Owner LLC for an undisclosed price where it planned a $539 million luxury residential condominium project. PincusCo could not determine the identity of the true owner behind the Delaware-based entity. Casco’s…
A buyer who signed a contract with Acadia Realty Trust to pay $20 million for the retail big box location at 145 East Service Road in Staten Island put the purchasing entity into bankruptcy with the goal of gaining two months in which the buyer believes the sale will be able to close. The buyer, Shlomo Kolodny through the entity East Service Road LLC, filed…
Lam Generation through the entity Ny 29 West LLC as borrower signed a refi loan with lender Metropolitan Commercial Bank valued at $22 million for the hotel building (H3) at 21 West 37th Street in Grand Central, Manhattan. The deal closed on July 28, 2023 and was recorded on August 1, 2023. The prior lender was Wells Fargo which held debt that had an original…
Harry Sohn through the entity 56 Scarlett Associates LLC as borrower signed a loan modification with lender Flagstar Bank through the entity New York Community Bank valued at $35.8 million for the 95-unit residential elevator building (D7) at 863-867 9th Avenue in Hell’s Kitchen, Manhattan. The deal closed on September 1, 2022 and was recorded on August 1, 2023. The prior lender was New York…
GD Capital Group through the entity 375 Chauncey Street LLC (and others) paid $2.2 million to Adam Cohen through the entity 643 Madison LLC for the six-unit residential walkup building (C2) at 375 Chauncey Street in Bedford Stuyvesant, Brooklyn. The deal closed on July 14, 2023 and was recorded on August 1, 2023. The property has 5,460 square feet of built space according to a…
Steven Gautier-Winther through the entity 52 Bndo LLC paid $2.2 million to Joseph Bachman through the entity 52 Bond Street LLC for the five-unit residential walkup building (C2) at 52 Bond Street in NoHo, Manhattan. This is the second recent transaction between the parties. Previously, Bachman sold 332 Bowery to Gautier-Winther for $8.8 million. The tax lots 52 Bond Street and 332 Bowery Street are…
Son Dinh Tran pays $6.25 million to Leonard Eis for the walkup 543 East 6th Street in Alphabet City and 425 East 6th Street in the East Village in two transactions. In the first, Son Dinh Tran through the entity 543 East 6 Street LLC paid $3.25 million to Leonard Eis through the entity 543 East 6th Street Realty Corp. for the eight-unit residential walkup…
Vasco Ventures paid $6.3 million for two walkups in Bronx in two transactions to two separate sellers. In the first, Vasco Ventures through the entity CM Property Services LLC paid $3.4 million to Valentin Lisi through the entity 885-887 Cauldwell LLC for the 10-unit residential walkup building (C1) at 885 Cauldwell Avenue in Morrisania, Bronx. The deal closed on July 25, 2023 and was recorded…
Chananya Bineth through the entity 1663 Eny LLC paid $3.8 million to Arsen Yakubov through the entity Like Minded People LLC for a six-parcel development site including the development parcel (V1) at 1655 East New York Avenue in Brownsville, Brooklyn. At the same time, Chananya Bineth through the entity 1663 Eny LLC as borrower signed a new construction loan with lender Cross River Bank valued…
Sunlight Development Group and Xia Zhou through the entity Greenpoint Summit LLC paid $18.8 million to Joseph Torres through the entity Greenpearl Group LLC for the industrial building (E1) at 49 Ash Street in Greenpoint, Brooklyn. The deal closed on July 21, 2023 and was recorded on August 1, 2023. The property has 52,003 square feet of built space and 51,050 square feet of additional…
ABS Partners Real Estate filed plans to demolish the rental building at 2560 Broadway on the Upper West Side of Manhattan. There are no new development buildings plans for the parcel in the Department of Buildings. Randy Modell, a partners with ABS Real Estate, submitted the plans under job number M00852737. The project is described as: full demolition of seven-story structure, using hand held and…
South Korea-based IGIS Asset Management through the entity IGIS USA LLC bought a note with an original principal of $185 million from JPMorgan Chase secured by Extell Development’s 13-parcel development site at 570 Fifth Avenue at the corner of 46th Street in Midtown West, Manhattan. Extell is expected to build a supertall skyscraper on the site. The loan closed on July 10, 2023 and was…
Condominium developers Claudio Soifer and Harry Karten through the entity SD Second Avenue Property LLC as borrower signed a refi loan with lender Lancewood Capital valued at $11 million for seven unsold condominium units and three retail units in the 54-unit new development at 250 East 21st Street in Gramercy, Manhattan. Joshua Schuster’s Silverback Development began this project but Claudio Soifer and Harry Karten took…
The Bridge through the entity 1559 BOONE AVENUE L.P. as borrower signed a new construction loan with lender JPMorgan Chase valued at $27.7 million for the 66-unit development at 1559 Boone Avenue in East Morrisania, Bronx. On the lot, there is one active new building construction project for a 66-unit, 35,925 square-foot R-2 building. The project was submitted by The Bridge, Inc. and filed by…
Madison Realty Capital through the entity Dupont Street Owner 2 LLC as borrower signed a refi loan with lender Maxim Capital Group through the entity Maxim Credit Group, LLC valued at $40 million for two development properties including the development parcel (V1) at 65 Dupont Street in Greenpoint, Brooklyn and development parcel (V1) at 75 Dupont Street in Greenpoint, Brooklyn. On these lots, there are…
Nasir Sasouness pays $4.3 million to Vincent Garrow for two adjacent walkups at 310-314 East 112th Street in East Harlem, Manhattan, with a total of 49 units, in two separate transactions. In the first transaction, Nasir Sasouness through the entity Boaz 26 LLC paid $2.15 million to Vincent Garrow through the entity 310-312 E. 112 St. Realty Corp. for the 23-unit residential walkup building (C7)…
Roberto Diliberto through the entity 167 West 87th LLC paid $4.4 million to Thomas R. Donnelly through the entity 167 W LLC for the eight-unit residential walkup building (C1) at 167 West 87th Street in Upper West Side, Manhattan. The deal closed on July 18, 2023 and was recorded on July 31, 2023. The property has 4,076 square feet of built space and 2,156 square…
Chengxi Li through the entity Ny B&B Property LLC paid $6.8 million to Song Lin through the entity 83 Broadway Realty, LLC for the mixed-use building (K4) at 83-12 Broadway in Elmhurst, Queens. The deal closed on July 21, 2023 and was recorded on July 31, 2023. The property has 4,445 square feet of built space and 21,576 square feet of additional air rights for…
