The Klein Group and its lender represented by Wilmington Trust agreed through a signed stipulation that the leasehold on the retail at 659 Broadway would be sold at a foreclosure auction at the steps of the federal courthouse in Manhattan within approximately three months. The agreement signed July 26, 2023, mentions a referee but does not identify an individual by name. The plaintiff, the commercial…
Theodate Coates, the daughter of the late shipping and real estate magnate Benjamin Coates, through the entity Joshua Baily Shipping Company LLC as borrower signed a refi loan with lender Bank of Montreal valued at $19.9 million for the 101-unit residential elevator building (D6) at 177 East 75th Street in Lenox Hill, Manhattan. The deal closed on July 17, 2023 and was recorded on July…
Pacific Oak Capital Advisors through the entity 110 William Property Investors III, LLC as borrower signed a rehab construction loan with lender Deutsche Pfandbriefbank valued at $54.1 million for the office building (O4) at 110 William Street in Financial District, Manhattan. This is additional debt and there remains loans with original principals totaling $269 million. The deal closed on July 5, 2023 and was recorded…
Donavan Whyte through the entity 859 East 227 LLC paid $1.6 million to Ingrid Austin and Campbelle Austin through the entity 859 E 227 St., Inc. for the 16-unit residential walkup building (C1) at 859 East 227th Street in Wakefield, Bronx. The deal closed on June 27, 2023 and was recorded on July 26, 2023. The property has 9,880 square feet of built space according…
Phipps Houses through the entity East 182 Street Associates, LLC paid $3.5 million to Joseph Daniel Zola through the entity 800 East 182nd Street Corp. for the mixed-use building (K1) at 800 East 182nd Street in Belmont, the Bronx. Phipps Houses bought the neighboring parcel in 2021 for $3 million, and now controls the entire 170 feet along East 182nd Street. The deal closed on…
Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $4.1 million to Greenbrook Partners through the entity 11 Stagg St, LLC for the four-unit 1-4 family building (C3) at 11 Stagg Street in Williamsburg, Brooklyn. The deal closed on July 21, 2023 and was recorded on July 26, 2023. The property has 3,750 square feet of built space and 1,249 square feet of additional…
Lin Huang through the entity Mott And Bayard Corp. paid $7.5 million to Roland Leong through the entity 53 Mott Street Corp. for the two-story mixed-use building (K4) at 53 Mott Street in Chinatown, Manhattan. The deal closed on July 12, 2023 and was recorded on July 26, 2023. The property has 6,975 square feet of built space and 1,624 square feet of additional air…
Tobias Strulovitch through the entity Tal Hashmayim, LLC paid $7.5 million to Isamar Margareten through the entity 111-113 Spencer LLC for the retail building (K1) at 113 Spencer Street in Bedford Stuyvesant, Brooklyn and industrial building (E1) at 111 Spencer Street in Bedford Stuyvesant, Brooklyn. The deal closed on July 19, 2023 and was recorded on July 26, 2023. The two properties have 10,000 square…
Canyon Partners through the entity Canyon OZF Douglass L.P. acquired an interest in Tavros Capital and Charney Companies’ 261-unit development project at at 251 Douglass Street in Gowanus, Brooklyn. The deal closed on July 19, 2023 and was recorded on July 26, 2023. On the tax lot, Tavros Capital and Charney Companies filed plans for a 261-unit, 223,886 square-foot residential (R-2) building submitted by Tavros…
Brisa Builders through the entity Glenmore Manor Apartments, LLC as borrower signed a new construction loan with lender NYC Housing Development Corporation valued at $165.2 million for the 233-unit development (V1) at 97 Glenmore Avenue in Brownsville, Brooklyn. The deal closed on June 29, 2023 and was recorded on July 25, 2023. There is a 233-unit, 203,611 square-foot residential (R-2) building submitted by NYC Department…
The Florida-based commercial laundry My Sunny Laundry through the entity H & L Laundromat Holdings, LLC paid $3.4 million to Gwang Il Kim through the entity D & K Plaza Inc for the three-unit mixed-use building (K4) at 650 East 5th Street in Alphabet City, Manhattan. The deal closed on July 13, 2023 and was recorded on July 25, 2023. The property has 3,840 square…
Xiangdong Gao through the entity Cornerstone Z G Holdings Inc paid $8.9 million to Agus Holdings and 101 Holdings through the entity 4138 Broadway Retail Owner LLC for the retail building (K1) at 4138 Broadway in Washington Heights, Manhattan. The deal closed on June 29, 2023 and was recorded on July 25, 2023. The property has 5,458 square feet of built space and 5,457 square…
The lender RSS WFCM 2015-LC20-NY 377 LLC in care of Rialto Capital Advisors, acquired control through a foreclosure action of four retail condominium units at 377 Broadway in Tribeca, Manhattan. The value of the transfer in city records, which typically represents the defaulted debt, was $11.9 million. The former owners who lost the property were Ilan Bracha and Haim Binstock through their company B+B Capital….
Hyundai Motor Group through the entity Hyundai Motor America paid $22.5 million to Edward Raboy and Richard Loring Moss through the entity Duanco Inc. for the Liberty Inn hotel building (H4) at 51 Tenth Avenue in Meatpacking District, Manhattan. This was the last hourly hotel in Manhattan, according to reports. The deal closed on July 18, 2023 and was recorded on July 25, 2023. The…
Adams & Company through the entity 44 West 18th Street LLC paid $28.1 million to Rockrose Development through the entity Chequessett Owner L.L.C. (and others) for three stakes totaling 12.9 percent in the office building (O6) at 44 West 18th Street, also known as 47 West 17th Street in the Flatiron District, Manhattan. Owners have bought and sold stakes in the buildings for decades, then…
The special servicer for a commercial mortgage-backed security with an original principal of $16.5 million filed a pre-foreclosure action against the owner of two buildings Jackson Heights, Queens rental buildings at 71-09 and 71-15 37th Avenue, with a total of 106 units. The owner, Rajmattie Persaud, bought the pair of rental buildings in March 2017 for $31.5 million. The two buildings cover the entire block…
A self-described novice real estate investor, Haim Kahan, alleges in a lawsuit filed yesterday that he signed a contract in approximately May 2022, to buy the 11,657-square-foot commercial building at 525 Park Avenue in Bedford Stuyvesant for $11 million from developer CW Realty Group, but the transaction never closed and the property is now in contract to another seller. LINK The complaint says that a…
Michael E. Jones through the entity 113 Lexington Realty, LLC as borrower signed a initial loan with lender Newtek Bank through the entity Newtek Business Services Holdco 6, Inc. valued at $6.2 million for two residential walkup properties with 15 residential units including the eight-unit residential walkup building (C7) at 113 and 115 East 39th Street in Grand Central, Manhattan. The deal closed on June…
Shaya Seidenfeld through the entity Melrose Manor LLC as borrower signed a new construction loan with lender Ponce Bank valued at $13 million for the development (V1) at 414-416 East 152nd Street in Melrose, Bronx. The deal closed on July 17, 2023 and was recorded on July 24, 2023. The prior lender was Kedishas Aharon D’Hadas which held debt that had an original loan amount…
Premier Equities through the entity 1141 Realty Owner LLC as borrower signed a refi loan with lender Israel Discount Bank valued at $32 million for the hotel building (HB) at 1141 Broadway in NoMad, Manhattan. The deal closed on July 13, 2023 and was recorded on July 24, 2023. The prior lender was Israel Discount Bank which held debt that had an original loan amount…
