Essex Plaza Management Associates through the entity Astoria Towers II Housing Dev. Fund Corp. as borrower signed a new construction loan with lender NYC Housing Development Corporation valued at $54.2 million for the development building (V1) at 32-20 111th Street in North Corona, Queens. The deal closed on June 30, 2023 and was recorded on July 12, 2023. The property has zero square feet of…
Yaakov Gold through the entity 1730 Bedford Owner LLC as borrower signed a new construction loan with lender Invictus Real Estate Partners through the entity Invictus Bedford Funder LLC valued at $57.2 million for the 57-unit development (V0) at 1730 Bedford Avenue in Crown Heights, Brooklyn. The deal closed on June 30, 2023 and was recorded on July 12, 2023. The signatory for Yaakov Gold…
Vilson Lumaj through the entity V. Gun Hill Tower LLC paid $4.7 million to Maria Loreti through the entity Loreti, Maria for two development parcels (V0) at 734 East 213th Street in Williamsbridge, Bronx. The deal closed on July 6, 2023 and was recorded on July 12, 2023. The two properties have zero square feet of built space and 49,992 square feet of additional air…
James Grasso through the entity 1240 Pacific Street LLC paid $5.8 million to Michelle Thomas, Leonard Thomas, and Alena M. Banks through the entity 1240 Pacific LLC for the five-unit residential walkup building (C2) at 1240 Pacific Street in Crown Heights, Brooklyn. The deal closed on June 29, 2023 and was recorded on July 12, 2023. The property has 9,735 square feet of built space…
Associated Beth Rivka School for Girls paid $6.2 million to Sholom Goldstein through the entity 474 East NYA LLC for the 10-unit residential elevator building (D6) at 474 East New York Avenue in East Flatbush, Brooklyn. The deal closed on July 6, 2023 and was recorded on July 12, 2023. The property has 7,633 square feet of built space according to a PincusCo analysis of…
Wavecrest Management through the entity 24 Bch Ii Housing Development Fund Company, Inc. paid $28 million to Aaron Jungreis through the entity 24 Bch II Housing Development Fund Company, Inc. for the 68-unit residential elevator building (D7) at 2476 Hughes Avenue in Belmont/Little Italy, Bronx, 74-unit residential elevator building (D1) at 2404-16 Crotona Avenue in Belmont/Little Italy, Bronx, and 43-unit residential elevator building (D7) at…
Beacon Capital Partners and Kaufman Investments through the entity Bcsp-K 875 Property LLC paid $92.5 million to James Wacht, Peter Braus and Sierra Real Estate through the entity New 875 LLC for the office building (O4) at 875 Sixth Avenue in Penn Plaza, Manhattan. The deal closed on June 30, 2023 and was recorded on July 12, 2023. The property has 214,349 square feet of…
Golden Bridge Funding filed a $10.7 million pre-foreclosure action yesterday against the owners of the development site at 482 Saint Johns Place and 419 Lincoln Place in Prospect Heights, Brooklyn. The lender filed the complaint in U.S. District Court in Brooklyn, with the index number 1:23-cv-05264-FB-JRC. The property owners, Joseph Rubin and Shmuel Haikins, bought the development site for $17 million in May 2022. Ahron…
Capstone Equities, as lender, alleges that Nightingale Properties CEO Elchonon Schwartz is bound by guarantys including recourse, carry, completion, payment and environmental, and through them owes more than $90 million because the loan with an original principal of $88.9 million is, the complaint says, in maturity default. Court filings represent the position of one party and are not necessarily accurate or complete. Case LINK Even…
150ph LLC paid $52 million to 150 Charles Street Ph A LLC for the residential condominium PHA at 150 Charles Street in West Village, Manhattan. The deal closed on June 28, 2023 and was recorded on July 11, 2023. The property has 4,553 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $11,421…
Sandra Erickson Real Estate through the entity Grant Tpt LLC as borrower signed a rehab construction loan with lender Webster Bank valued at $26.5 million for three properties with 100 residential units including the 68-unit walkup building (C6) at 1113 Grant Avenue in Concourse Village, Bronx, 24-unit residential walkup building (C1) at 1033 Cauldwell Avenue in Morrisania, Bronx, and eight-unit walkup building (C6) at 1211…
Mendel Kaff through the entity Watson Development, LLC as borrower signed a refi loan with lender Valley National Bank valued at $43 million for the 116-unit residential walkup building (C1) at 1466 Watson Avenue in Soundview, Bronx. The deal closed on July 5, 2023 and was recorded on July 11, 2023. The prior lender was Bank of Princeton which held debt that had an original…
RJ Capital Holdings through the entity Trylon LLC as borrower signed a new construction loan with lender Valley National Bank valued at $72 million for the development parcel (V1) at 98-01 Queens Boulevard in Rego Park, Queens. On the lot, there is one active new building construction project for a 62-unit, 82,425 square-foot R-2 building. The project was submitted by RJ Capital Holdings and filed…
Aziz Kabbaj through the entity 191 Henry Rp LLC paid $6.3 million to Velda Lee through the entity Kyra Group Inc. for the 22-unit residential walkup building (C7) at 191 Henry Street in Lower East Side, Manhattan. The deal closed on June 28, 2023 and was recorded on July 11, 2023. The property has 9,810 square feet of built space according to a PincusCo analysis…
Nathan Benelyahou and Alan Kaypour through the entity 2794 Broadway LLC paid $9.5 million to Jonah Kriger through the entity 2794 Broadway Acquisitions LLC for the 13-unit residential walkup building (C7) at 2794 Broadway in Upper West Side, Manhattan. The deal closed on June 30, 2023 and was recorded on July 11, 2023. The property has 15,663 square feet of built space and 6,150 square…
Mezzanine debt holders Arden Group and Corten Real Estate Partners sued three alleged note guarantors in Soho Properties’ Margaritaville Resort Times Square at 560 Seventh Avenue in the Garment District in Manhattan. The filing in Manhattan State Supreme Court comes a day after the lenders’ effort to wipe out Soho Properties’ equity in the project was frustrated by the developer placing the project into bankruptcy,…
Property owner Fang Zou filed for chapter 11 bankruptcy protection in Manhattan yesterday to halt a UCC foreclosure auction of the condominium development project at 343 West 47th Street in Hell’s Kitchen, Manhattan, set for the same day, July 11, 2023. The property is owned through the entity Midtown West 47 ST LLC, which was not a party to the bankruptcy. Fang Zou filed four…
Plateau Des Saix LLC paid $41 million to Hamilton 1776, LLC for the 1-4 family building (A7) at 110 East 76th Street in Lenox Hill, Manhattan. The deal closed on June 29, 2023 and was recorded on July 10, 2023. The property has 11,991 square feet of built space and 2,720 square feet of additional air rights for a total buildable of 14,708 square feet…
Maddd Equities through the entity Maddd 550 Broad, LLC as borrower signed a refi loan with lender Lakeland Bank valued at $42.5 million for the specialty building (Y8) at 405 East 59th Street in Lenox Hill, Manhattan, under the Ed Koch Queensboro Bridge. The developer paid $42 million in 2020 for the master lease on the landmarked location. The refi closed on June 29, 2023…
CIM Group through the entity 246 Spring Street (NY), LLC as borrower signed a loan with lender AB CarVal Investors through the entity Cvi Sa3 Senior Loan Holdings, LLC valued at $83 million for 280 properties with one residential unit including the retail condo at 246 Spring Street in Hudson Square, Manhattan, hotel condo at 246 Spring Street in Hudson Square, Manhattan, and retail condo…
