Transfers

CACHED

Maverick files $34.4M pre-foreclosure in Flushing 9 months after origination

Lender Maverick Real Estate Partners filed a $34.4 million pre-foreclosure action in Flushing against Xin Development Group International just nine months after originating the loan for the property 135-35 Northern Boulevard, the former RKO Keith’s Theater. Maverick filed the complaint 714953/2023 yesterday in Queens County Supreme Court. Maverick is one of the city’s most active note buyers and plaintiffs in foreclosure actions. The firm has…

2 involuntary bankrupties filed in attempt to halt $17M Elmhurst foreclosure auction

Plaintiffs including purported condominium contract vendees filed two involuntary bankruptcy actions in an effort to stop a $17 million foreclosure auction set for this morning to sell Tu Kang Yang’s stalled condo project at 81-05 Queens Boulevard, in Elmhurst, Queens. The debt holder is an affiliate of KMR Equity Partners, which bought the debt from Maxim Capital Group in February 2022. Records related to the…

NYMT files $7M pre-foreclosure at Crown Heights walkups

New York Mortgage Trust through its affiliate Residential Mortgage Aggregation Trust filed a $7 million pre-foreclosure action in U.S. District Court in Brooklyn against Zalmen Wagschal, the owner of the adjacent walkup buildings 1365 St. John’s Place and 1369 St. John’s Place in Crown Heights, Brooklyn. Case LINK Complaint 1369 St Johns Place complaint According to the complaint, “Borrower defaulted under the Loan Documents by…

$12.25M pre-foreclosure filed at Crown’s Fordham Heights retail

The special servicer for a $12.25 million securitized loan filed a pre-foreclosure action in U.S. District Court in Manhattan against a Crown Acquisitions affiliate that owns a two-story retail building at 270 East Fordham Road in Fordham Heights, the Bronx. The lender alleges a maturity default, as it matured May 1, 2023 and was not paid off, and seeks the appointment of a receiver. The…

Max Drivin signs $7.5M refi with Arbor for two walkups in East Harlem

Max Drivin through the entity 2146-48 Second Avenue DE LLC as borrower signed a refi loan with lender Arbor Realty Trust through the entity Arbor Agency Lending, LLC valued at $7.5 million for two residential walkup properties with 32 residential units including the 16-unit residential walkup building (C7) at 2146 2nd Avenue and the 16-unit residential walkup building (C7) at 2148 2nd Avenue in East…

Exact Capital signs $123.5M construction loan with NYCHDC for 182-unit project in Westchester Square

Exact Capital through the entity Blondell Equities LLC as borrower signed a new construction loan with lender NYC Housing Development Corporation valued at $123.5 million for the 182-unit project at 1340 Blondell Avenue in Westchester Square, Bronx. On the lot, there is one active new building construction project for a 182-unit, 173,111 square-foot R-2 building. The project was submitted by Nimrud Eyal with plans filed…

Spyros Kokolis pays $1.7M for office building in Bay Ridge

Spyros Kokolis through the entity 7801 4th Ave Holding LLC paid $1.7 million to Jovin Lombardo through the entity 7801 4th Ave. LLC for the office building (O8) at 7801 4th Avenue in Bay Ridge, Brooklyn. The deal closed on July 7, 2023 and was recorded on July 19, 2023. The property has 4,790 square feet of built space and 5,488 square feet of additional…

16-unit walkup in Crown Heights sells for $2.3M

A buyer through the entity 1236 Bh Holdings LLC paid $2.3 million to Jason Silverstein through the entity Silvershore Properties 105 LLC for the 16-unit residential walkup building (C1) at 1236 Union Street in Crown Heights, Brooklyn. The deal closed on July 11, 2023 and was recorded on July 19, 2023. The property has 14,940 square feet of built space and 574 square feet of…

Ronnie Levy pays $2.9M for retail in Rockaway Park

Ronnie Levy through the entity 113 Rockaway LLC paid $2.9 million to Steven Lenter through the entity 320 Mulberry St Associates LLC for the retail building (K1) at 113-26 Rockaway Beach Boulevard in Rockaway Park, Queens. The deal closed on June 29, 2023 and was recorded on July 19, 2023. The property has 8,798 square feet of built space according to a PincusCo analysis of…

Ambassador Theater Group, Providence Equity acquire control of Jujamcyn’s Broadway theaters in $308.4M deal

United Kingdom-based Ambassador Theater Group and Rhode Island-based Providence Equity Partners through the entity Jujamcyn Midco, LLC acquired a 93.06 percent stake in Jujamcyn Theaters’ five Broadway theaters, in a deal valued at $308.4 million. The properties are 302 West 45th Street, 230 West 49th Street and 246 West 44th Street, 243 West 52nd Street and 219 West 48th Street in the Broadway Theater District…

David Grogan signs $16.5M refi for properties in Bronx, Manhattan

David Grogan through the entity 15 E 76 LLC as borrower signed a refi loan with lender KeyBank valued at $16.5 million for three properties with 13 residential units including the four-unit property (C5) at 15 East 76th Street in Lenox Hill, Manhattan, the industrial building (F4) at 1261 Seabury Avenue in Unionport, Bronx, and the nine-unit residential walkup building (C1) at 523B East 85th…

394-unit Northridge co-op in Jackson Heights signs $25M refi with Wells Fargo

The Northridge Cooperative through the entity Northridge Cooperative Section No. III, Inc. as borrower signed a refi loan with lender Wells Fargo valued at $25 million for the 394-unit residential elevator building (D4) at 32-20 89th Street in Jackson Heights, Queens. The deal closed on June 30, 2023 and was recorded on July 18, 2023. The prior lender was Series 2016-K723 which held debt that…

Joel Schwartz signs $27.4M refi for residential elevator in Cypress Hills

Joel Schwartz through the entity 2815 Atlantic Holdings LLC as borrower signed a refi loan with lender Cathay Bank through the entity Cathay Bank valued at $27.4 million for the 68-unit residential elevator building (D7) at 2817 Atlantic Avenue in Cypress Hills, Brooklyn. The deal closed on July 6, 2023 and was recorded on July 18, 2023. The prior lender was Bank of Princeton which…

Assaf Sanilevich pays $2.3M for mixed-use in Williamsburg

Assaf Sanilevich through the entity 636 Lorimer Condominium, LLC paid $2.3 million to Carolyn Tourloukis for the mixed-use building (S1) at 636 Lorimer Street in Williamsburg, Brooklyn. The deal closed on June 30, 2023 and was recorded on July 18, 2023. The property has 2,520 square feet of built space and 2,474 square feet of additional air rights for a total buildable of 4,998 square…

Tariq Mahmoud pays $2.6M for 25-unit walkup in Tremont

Tariq Mahmoud through the entity 1981 Kings LLC paid $2.6 million to Kenneth Nugent through the entity 1981 Marmion Ventures LLC for the 25-unit residential walkup building (C1) at 1981 Marmion Avenue in Tremont, Bronx. The deal closed on July 7, 2023 and was recorded on July 18, 2023. The property has 21,213 square feet of built space according to a PincusCo analysis of city…

Haimo Zhong pays $3.8M for industrial in Longwood

Haimo Zhong through the entity 590 Wales Ave LLC paid $3.8 million to Dean Papas through the entity 601 Wales Avenue Corp. for the industrial building (E9) at 590 Wales Avenue in Longwood, Bronx. The deal closed on June 30, 2023 and was recorded on July 18, 2023. The property has 10,550 square feet of built space and 25,717 square feet of additional air rights…

Sunlight Development pays $9.6M for possible dev site in Elmhurst

Sunlight Development Group through the entity 7801 Queens Holding LLC paid $9.6 million to Daniel Licht through the entity Elghanayan-Licht, LLC for the retail building (K7) at 78-01 Queens Boulevard in Elmhurst, Queens, industrial building (G7) at 79-30 Albion Avenue in Elmhurst, Queens, and industrial building (G7) onAlbion Avenue in Elmhurst, Queens. The deal closed on July 14, 2023 and was recorded on July 18,…

Broadshore Capital files $49M pre-foreclosure at Greenwich Village retail

Four months after buying a defaulted $49 million note, Broadshore Capital Partners filed a pre-foreclosure action against the owners of the 54,476-square-foot retail condominium unit at the base of the 77-unit Greenwich Condominium at 510 Sixth Avenue at the corner of 14th Street in Greenwich Village, Manhattan. Broadshore is a real estate investment firm based in Los Angeles and led by CEO Bradford Howe. The…

Zhi Lin pays $3M for retail in Hell’s Kitchen

Zhi Lin through the entity J&G Star LLC paid $3 million to Lilian Anastasakis through the entity L.T.A Properties Corp. for the two-unit mixed-use building (K4) at 852 10th Avenue in Hell’s Kitchen, Manhattan. The deal closed on July 7, 2023 and was recorded on July 17, 2023. The property has 4,522 square feet of built space and 5,306 square feet of additional air rights…

David Brown pays $5.8M to Centurion Realty for mixed-use in SoHo

David Brown through the entity 473 WB Owner LLC paid $5.8 million to Centurion Realty through the entity 473 West Broadway LLC for the three-unit mixed-use building (K4) at 473 West Broadway in SoHo, Manhattan. The deal closed on July 11, 2023 and was recorded on July 17, 2023. The property has 13,369 square feet of built space according to a PincusCo analysis of city…