The nonprofit ACMH through the entity ACMH Jerome Avenue Housing Development Fund Corporation paid $8.4 million to Gigi Porcelli through the entity Porlos Realty Corp. for two industrial buildings (E9) at 1760 and 1768 Jerome Avenue in Mt Hope, Bronx. ACMH financed the purchase with a $10.7 million loan with Enterprise Community Partners. The deal closed on May 24, 2023 and was recorded on June…
Carlyle Group through the entity Townhouse Rental, L.L.C. paid $12.7 million to Greenbrook Partners through the entity 812 8 Ave, LLC for the 16-unit residential walkup building (C1) at 812 8th Avenue in Park Slope, Brooklyn. The deal closed on May 25, 2023 and was recorded on June 2, 2023. The property has 10,532 square feet of built space and 753 square feet of additional…
Nuveen Real Estate paid $69.1 million to Omni New York and Stone Point Capital for 78 affordable housing properties in New York City with approximately 6,300 apartments in two transactions. Each transaction was an entity level acquisition of a 75 percent interest. It was unclear who would retain the 25 percent stake or if another transfer filing would cover the remainder. The Wall Street Journal…
A bankruptcy specialist on behalf of Abraham Leifer‘s Aview Equities and others placed a 95-percent complete 100-room hotel project valued at $29.5 million at 291 Livingston Street in Downtown Brooklyn in bankruptcy as it faces a $34 million senior loan default and at least 19 mechanic’s liens totaling approximately $3 million. In addition, the development is subject to at least eight state court lawsuits including…
Alfred Mitaj through the entity First Structure, LLC as borrower signed a new construction loan with lender NorthEast Community Bank valued at $10.1 million for the development site (V1) at 1616 Crosby Avenue in Pelham Bay, Bronx. On the lot, there is one active new building construction project for a 31-unit, 21,433 square-foot R-2 building. The project was submitted by Alfred Mitaj with plans filed…
Eric Schlagman through the entity 50 Hudson LLC as borrower signed a refi loan with the lender GLT Hudson Holdings, LLC, an affiliate of Regeneron co-founder George D. Yancopoulos, valued at $25 million for the mixed-use building at 50 Hudson Street in Tribeca, Manhattan. The building is divided into five condominium units. The deal closed on April 27, 2023 and was recorded on June 1,…
NuBridge Commercial Lending through the entity Nubridge Commercial Lending REO SPV I Inc. acquired from the foreclosed former owner Vanessa Turner the 11-unit residential walkup building (C5) at 51 East 126th St. in East Harlem, Manhattan valued at $1.7 million. The deal closed on May 8, 2023 and was recorded on June 1, 2023. The property has 3,812 square feet of built space and 3,670…
Joshua Guttman, Henry Guttman, Sarah Neuman, and Mendel Neuman paid $2.5 million to Raviv Capital through the entity 109 Vernon Avenue LLC for the four-unit building (C3) at 109 Vernon Avenue in Bedford Stuyvesant, Brooklyn. The deal closed on May 11, 2023 and was recorded on June 1, 2023. The property has 3,600 square feet of built space and 400 square feet of additional air…
McDonald’s Corporation through the entity McDonald’s USA, LLC paid $6.6 million to Bryan Lazarus, Jack Margolis, Gayle Tapper, Roland G. Finkelman, Barbara Martineau Rosenthal, and Jody LaGreca for the retail building (K5) at 880 Coney Island Avenue in Kensington, Brooklyn. The sale was recorded in two transactions for $3.3 million each for 50 percent tenant-in-common interests. The deal closed on May 19, 2023 and was…
Artifact through the entity 320 West 135 Street LLC paid $13.6 million to Rafael Santandreu through the entity BOC St. Nicholas LLC for the 17-unit residential elevator building (D7) at 492 St Nicholas Avenue in Harlem, Manhattan. The deal closed on May 18, 2023 and was recorded on June 1, 2023. The property has 17,981 square feet of built space according to a PincusCo analysis…
Invictus Capital Partners, by the petitioner Bill Wang, a director at the company, filed to place a parking garage condominium unit at 37-20 Prince Street in Flushing, Queens, valued at $7.6 million, into bankruptcy. Bankruptcy LINK This parking garage unit PU was owned by investor Kevin Wang but he lost the unit in a UCC sale to an affiliate of Invictus Capital Partners and CV…
A Vanbarton Group affiliate through the entity 31 Penn Plaza Senior LLC bought a note with an original principal of $168.4 million from Morgan Stanley secured by Vanbarton Group’s office building (O6) 31 Penn Plaza at 132 West 31st Street in Penn Plaza, Manhattan. Vanbarton Group bought the leasehold for $264.7 million in 2015 and bought the fee in January 2018 for $31 million, for…
Jacob Rosenberg through the entity YC Atlantic 2 LLC as borrower signed a new construction loan with lender Popular Bank valued at $20.8 million for two properties with 43 residential units including the 41-unit residential elevator building (D7) at 2767 Atlantic Avenue in Cypress Hills, Brooklyn and two-unit development building (V1) at 2777 Atlantic Avenue in Cypress Hills, Brooklyn. Michael Rosenberg of Urbane Management Team,…
Elad Group through the entity Civic Center Community Group Broadway LLC as borrower signed a refi loan with lender G4 Capital Partners through the entity G4 18250, LLC valued at $88.9 million for 48 unsold condominium units including 45 residential units two retail units and a parking garage unit, at 108 Leonard Street in Civic Center, Manhattan. The deal closed on May 23, 2023 and…
Abraham Gelbstein through the entity 1176 Nostrand LLC paid $2.5 million to Scott Kalb through the entity CK 1176 Realty LLC for the seven-unit residential walkup building (C7) at 1176 Nostrand in Prospect Lefferts Gardens, Brooklyn. The deal closed on May 15, 2023 and was recorded on May 31, 2023. The property has 6,400 square feet of built space according to a PincusCo analysis of…
Eili Blaleh through the entity EB Parkway Realty LLC paid $3.5 million to Itzhaki Acquisitions through the entity BH 431-433 Wythe Avenue LLC for the five-unit mixed-use building (S9) at 332 Rodney Street in Williamsburg, Brooklyn. The deal closed on May 23, 2023 and was recorded on May 31, 2023. The property has 4,400 square feet of built space according to a PincusCo analysis of…
Andy Lee through the entity Gmae1029 LLC paid $4 million to Mathew P. Angelone and Paul Angelone for the four-unit building (C3) at 328 Degraw Street in Carroll Gardens, Brooklyn. The deal closed on May 24, 2023 and was recorded on May 31, 2023. The property has 2,800 square feet of built space and 1,200 square feet of additional air rights for a total buildable…
Menachem Raskin through the entity 132 Montague St LLC paid $4.3 million to Roy Kirsh through the entity 132 Capulet Holdings, LLC for the six-unit mixed-use building (S9) at 132 Montague Street in Brooklyn Heights, Brooklyn. The deal closed on May 18, 2023 and was recorded on May 31, 2023. The property has 7,526 square feet of built space and 1,074 square feet of additional…
Manuel Diaz and Seneida Diaz through the entity Hugh Grant Circle Plaza LLC paid $6.3 million to Abro Management through the entity Tuckahoe Realty LLC for the retail building (K1) at 80 Hugh J Grant Circle in Unionport, Bronx. The deal closed on May 23, 2023 and was recorded on May 31, 2023. The property has 10,392 square feet of built space and 15,441 square…
Carlyle Group through the entity Bayside Gowanus Owner, L.L.C. bought a controlling stake for $100 million in Property Markets Group’s two-tower project in Gowanus, Brooklyn. Simultaneously with the loan, Carlyle Group and PMG obtained a $230 million construction loan from Apollo Global Management’s Athene Annuity and Life Company. PMG filed the plans in November 2021 for a 344-unit, 295,262-square-foot mixed-use building at 267 Bond Street…
