Yossel Lichtman through the entity 219 Lenox Realty LLC as borrower signed a refi loan with lender Valley National Bank valued at $22 million for the development building (V1) at 219 Lenox Road in East Flatbush, Brooklyn. On the lot, there is one active new building construction project for a 50-unit, 34,299 square-foot R-2 building. The project was submitted by Yossel Lichtman and filed by…
Korman Communities signed $92.5 million in refinance loans with Capital One for two hotels in Midtown West in two separate transactions. In the larger, Korman Communities through the entity Metropolitan 58th Street Associates, LLC as borrower signed a refi loan with lender Capital One valued at $54.8 million for the 134-unit hotel building (HS) at 42 West 58th Street in Midtown West, Manhattan. The deal…
Xiao Jia Wang through the entity Good Future Vw LLC paid $2.1 million to Stephen A. Beinert, John F. Beinert, and Peter D’Arco for the 16-unit residential walkup building (C1) at 753 52nd Street in Sunset Park, Brooklyn. The deal closed on March 31, 2023 and was recorded on April 19, 2023. The property has 9,320 square feet of built space according to a PincusCo…
Yellow Jacket Ventures through the entity Flatbush Hills LLC paid $2.2 million to the Eloi Francis estate for the 22-unit residential walkup building (C1) at 2102 Newkirk Avenue in Flatbush, Brooklyn. The deal closed on March 22, 2023 and was recorded on April 19, 2023. The property has 15,680 square feet of built space and 8,723 square feet of additional air rights for a total…
An entity with unknown ownership, Northern Blvd 2626 LLC, paid $4.1 million to Lynn Dudgeon King through the entity Long Island Sound Realty Company for the retail building (K5) at 246-15 Northern Boulevard in Little Neck, Queens. The deal closed on March 31, 2023 and was recorded on April 19, 2023. The property has 3,600 square feet of built space and 4,284 square feet of…
Moses Karpen through the entity Kent Development LLC paid $5.2 million to Richard Cedillo through the entity 908 Kent Avenue Realty LLC for the three-unit mixed-use building (S3) at 906 Kent Avenue in Bedford Stuyvesant, Brooklyn and three-unit mixed-use building (S3) at 908 Kent Avenue in Bedford Stuyvesant, Brooklyn. The deal closed on April 5, 2023 and was recorded on April 19, 2023. The two…
Schneur Minsky through the entity 770 Hamilton LLC paid $5.4 million to Renaissance Realty Group through the entity 113 Hamilton Avenue LLC for the retail building (K5) at 113 Hamilton Avenue in Columbia Waterfront, Brooklyn. The deal closed on March 31, 2023 and was recorded on April 19, 2023. The property has 5,519 square feet of built space according to a PincusCo analysis of city…
The entity Northern Boulevard Self Storage Owner, LLC paid $27.2 million to Clutter through the entity 30-46 Northern Blvd Storage LLC for the industrial building (E7) at 30-46 Northern Boulevard in Long Island City, Queens. Life Storage recently added the property to its website as a storage location. PincusCo could not determine the true ownership behind the buyer entity. The deal closed on April 14,…
A New York State Supreme Court judge ordered the sale of the retail and office building owned by Dune Real Estate Partners at 111 East 59th Street in Midtown East, in Manhattan, five months after lender LoanCore Capital filed an action to foreclose on the loan with an initial principal of $196 million. Dune Real Estate Partners along with partners Princeton International Property and Empire…
Seven investors filed an involuntary bankruptcy at a 43-unit, one-time condominium project at 2417 Albemarle Road in Flatbush, Brooklyn, developed by Eli Karp’s Hello Living, that is threatened with a $15 million foreclosure action. The filing is an attempt to retain a portion of the $2.44 million in equity they invested nearly 10 years ago. Karp is facing foreclosure in other properties. Hello Living submitted…
Skyway Equities through the entity 927 Atlantic FS LLC as borrower signed a refi loan with lender Castellan Capital through the entity Atlantic 927 LLC valued at $9.2 million for the 21-unit residential elevator building (D3) at 927 Atlantic Avenue in Clinton Hill, Brooklyn. The deal closed on March 22, 2023 and was recorded on April 18, 2023. The property has 17,229 square feet of…
Manuel Scharf through the entity Jerome Enterprises, LLC as borrower signed a refi loan with lender Apple Capital Funding Inc. valued at $10.2 million for the 123-unit residential elevator building (D1) at 2914 Jerome Avenue in Bedford Park, Bronx. This is the first loan associated with Apple Capital Funding in city property records, according to a PincusCo review. The deal closed on November 30, 2022…
GFP Real Estate and Steinberg & Pokoik Management through the entity Realties 1430 as borrower signed a refi loan with lender Apple Bank for Savings valued at $28 million for the office building (O4) at 1430 Broadway in Garment District, Manhattan. The deal closed on March 30, 2023 and was recorded on April 18, 2023. The prior lender was Principal Life Insurance Company which held…
The Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $4 million to Ran Michaeli through the entity 1238 Hancock St LLC for the six-unit residential walkup building (C2) at 1238 Hancock Street in Bushwick, Brooklyn. The deal closed on April 12, 2023 and was recorded on April 18, 2023. The property has 4,572 square feet of built space and 280 square feet of…
The entity Wall Bridge Properties LLC with unknown ownership paid $16.8 million to Churchill Real Estate Holdings through the entity Churchill 381 Broadway LLC for the office building (O5) at 381 Broadway in Tribeca, Manhattan. The deal closed on April 13, 2023 and was recorded on April 18, 2023. The property has 18,300 square feet of built space and 4,792 square feet of additional air…
$8.3M pre-foreclosure on Gowanus industrial weeks after $36M judgment: Cathay Bank filed a pre-foreclosure action against the owner of a 99,500-square-foot industrial property at 255 Butler Street in Gowanus, which is an affiliate of the Akkad family, weeks after Sam Boymelgreen won a $36 million judgment. The Akkad family’s 255 Butler LLC as landlord signed a 49-year ground lease with Sam Boymelgreen in March 2013,…
The entity that developed a Harlem condominium building at 2098 Frederick Douglas Boulevard, called Gateway II LLC, led by Michael Gaetano, was placed into bankruptcy a year after a state Supreme Court judge sided with the condominium board in its $21 million suit against the developer. The bankruptcy is Chapter 7, and states the entity has no assets and has liabilities of $21 million, which…
CW Realty Group through the entity 251 Front LLC as borrower signed a loan with lender Valley National Bank valued at $42.6 million for the 58-unit residential elevator building (D3) at 68 Gold Street also known as 251 Front Street in Vinegar Hill, Brooklyn. The prior lender was Bank Hapoalim which provided a $33.1 million construction loan. The deal closed on April 4, 2023 and…
Camba through the entity CHV 329 Clarkson Avenue Hsg Dev. Fund Corp. as borrower signed a new construction loan with lender NYS Housing Finance Agency valued at $181.8 million for the affordable project at 329 Clarkson Avenue in Prospect Lefferts Gardens, Brooklyn. On the lot, there is one active new building construction project for a 291-unit, 219,002 square-foot residential (R-2) building. The project was submitted…
The new book seller the French Bookstore through the entity French Bookstore Inc. paid $3 million to the Daniel Group through the entity West 27, LLC for the retail condo at 145 West 27th Street in Chelsea, Manhattan. The deal closed on April 3, 2023 and was recorded on April 17, 2023. The property has 7,040 square feet of built space according to a PincusCo…
