Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $4.8 million to Yecheil Klein also known as Yechiel Klein, through the entity 212 Malcolm X Blvd. LLC for the 10-unit residential walkup building (C1) at 212 Malcolm X Boulevard in Bedford Stuyvesant, Brooklyn. The deal closed on June 2, 2023 and was recorded on June 16, 2023. The property has 5,603 square feet of…
Shiraz H. Rayani and Gulzar S. Rayani through the entity 7401 Roosevelt Ave LLC paid $6 million to Despina Tsoumpas through the entity Tsoumpas Realty Corp. for the retail building (K1) at 74-01 Roosevelt Avenue in Jackson Heights, Queens. The deal closed on May 31, 2023 and was recorded on June 16, 2023. The property has 1,900 square feet of built space and 2,717 square…
The family of real estate investor Charles Levinsohn bought out his late partner Bernard Posner’s estate for $9.6 million at five Manhattan properties. The Levinsohn’s made the purchases in two transactions. This is an entity level purchase. Bernard Posner co-owned a portfolio focused on the West Village with his business partner Charles Levinsohn. They used a company called Bernard-Charles Inc. Posner died September 27th, 2017…
Robert Saffayeh through the entity Bk Heights Remsen Fund LP paid $7.3 million for the six-unit residential walkup building (C2) at 118 Remsen Street in Brooklyn Heights, Brooklyn. The deal closed on June 2, 2023 and was recorded on June 16, 2023. The property has 8,411 square feet of built space according to a PincusCo analysis of city data. The sale price per built square…
The Buckley School paid $7.5 million to Magdalene Casola through the entity 109 East 73, LLC for the 17-unit residential elevator building (D3) at 109 East 73rd Street in Lenox Hill, Manhattan. The deal closed on June 8, 2023 and was recorded on June 16, 2023. The property has 12,144 square feet of built space according to a PincusCo analysis of city data. The sale…
Nursing home investor Solomon Klein through the entity BV SNF Realty LLC paid $70 million to TL Management and Fortis Investment Group through the entity 48 Cedar Street LLC for the building occupied by the Buena Vida Rehabilitation & Nursing Center (I6) at 48 Cedar Street in Bushwick, Brooklyn. The purchase was financed with a $52 million loan from Deutsche Bank and a subordinate $8.8…
Travis Stabler’s Rivington Company signed a $14.5 million contract last month to buy a two-parcel redevelopment site at 53 Catherine Street and 5 Monroe Street in Two Bridges on Manhattan’s Lower East Side from the Archdiocese of New York. The property was the former Church of St. Joachim and an adjacent rectory. The charter school Great Oaks most recently occupied the property. The contract is…
Peapack-Gladstone Bank filed an $8 million pre-foreclosure action against affiliates of City Skyline Realty, the second such action the lender has filed against the landlord this month. City Skyline Realty is among the largest owners and managers of multifamily buildings in the city, with at least 45 buidlings, 1,277 residential units and 1 million square feet of space, according to a PincusCo analysis of city…
By Adam Pincus Developer Harry Macklowe alleges CIM Group has paid none of the $110 million Macklowe was allegedly projected to earn from profits at the Billionaires’ Row condominium tower, 432 Park Avenue. Macklowe claims a 2011 agreement between him and CIM Group outlined that he would earn a 20 percent return once CIM Group had earned a 15 percent return on its investment. The…
Cain International through the entity Cain International Agent Limited bought a note with an original principal of $180.8 million from Pacific Western Bank secured by InterVest Capital Partners’ 16-story residential building at 720 West End Avenue in Upper West Side, Manhattan. The note was part of Cain International and Security Benefit Life Insurance Company’s purchase of PacWest’s $500 million New York City construction loan portfolio,…
StorageMart through the entity Tkg-Storagemart Partners Portfolio, LLC as borrower signed a refi loan with lender Citibank through the entity Citi Real Estate Funding Inc. valued at $39.3 million for the industrial building (E7) at 44 Wallabout Street in Williamsburg, Brooklyn. The deal closed on May 23, 2023 and was recorded on June 15, 2023. The prior lender was Series 2019-SMRT which held debt that…
Formosa Asset Group through the entity Formosa23 LLC paid $4.1 million to Hidrock Properties through the entity 3536 Associates LLC for the office condo at 35 West 36th Street in the Garment District, Manhattan. The deal closed on May 31, 2023 and was recorded on June 15, 2023. The property has 4,520 square feet of built space according to a PincusCo analysis of city data….
Ilya Tomasov through the entity 120 Charles LLC paid $5.2 million to Frances Panasci for the six-unit residential walkup building (C2) at 120 Charles Street in West Village, Manhattan. The deal closed on June 8, 2023 and was recorded on June 15, 2023. The property has 6,624 square feet of built space according to a PincusCo analysis of city data. The sale price per built…
Tiferes Yehuda Family Trust and Joel Waldman through the entity 64 Energy LLC (and others) paid $5.6 million to Raymond Lee through the entity Silverman-Shaw Inc. for the industrial building (F5) at 64-66 Franklin Avenue in Bedford Stuyvesant, Brooklyn. The deal closed on June 8, 2023 and was recorded on June 15, 2023. The property has 13,440 square feet of built space according to a…
An entity in care of the real estate development firm the Beechwood Organization, called 122 Washington LLC, paid $7.8 million to Rosalind Resnick through the entity 122 Washington Place LLC for the two-unit townhouse (B1) at 122 Washington Place in Greenwich Village, Manhattan. The property has an alternate address of 122 West Washington Place. Rosalind Resnick produced a full-length romantic comedy called Townhouse Confidential that…
Asland Capital Partners paid $16.4 million to L+M Development Partners for seven residential properties in Harlem and Morrisania in two separate transactions. In the larger, Asland Capital Partners through the entity Hp Site 15 Housing Development Fund Company, Inc. paid $10.1 million to L+M Development Partners through the entity Site 15 Affordable Associates LLC for the 15-unit residential walkup building (C1) at 215 West 148th…
Jacob Brauner through the entity Adar Ym Holdings LLC paid $28 million to Harold Abrams through the entity Remsen Realty Associates LLC for the industrial building (E2) at 909 Remsen Avenue in Canarsie, Brooklyn. The deal closed on June 8, 2023 and was recorded on June 15, 2023. The property has 85,000 square feet of built space and 10,450 square feet of additional air rights…
The Lubovitch Congregation Bais Avrohom Yitzchok through the entity 305 Remsen Realty LLC paid $6 million to David Gold through the entity Remsen Associates Company LLC for the school building (W9) at 305 Remsen Avenue in East Flatbush, Brooklyn. The deal closed on June 9, 2023 and was recorded on June 15, 2023. The property has 9,800 square feet of built space and 14,498 square…
SoftStone Development through the entity 4504 15 And 1476 45 Equity Partners LLC as borrower signed a refi loan with lender Golden Bridge Funding through the entity Golden Bridge R1 LLC valued at $5.5 million at 4504 15th Avenue in Borough Park, Brooklyn. The deal closed on May 31, 2023 and was recorded on June 14, 2023. The prior lender was Golden Bridge Funding which…
Max Beilush through the entity Sterling Rochester L.P. as borrower signed a refi loan with lender Berkadia Commercial Mortgage valued at $6.7 million for two residential elevator properties with 54 residential units including the 34-unit residential elevator building (D1) at 1540 Sterling Place in Crown Heights, Brooklyn and 20-unit residential elevator building (D1) at 215 Rochester Avenue in Crown Heights, Brooklyn. The deal closed on…
