FlatRate Moving through the entity Sbic Ventures LLC paid $3.8 million to Joan Mitchell Foundation for the office condo 15 at 545 West 25th Street in Chelsea, Manhattan. The deal closed on April 4, 2023 and was recorded on April 17, 2023. The property has 3,540 square feet of built space according to a PincusCo analysis of city data. The sale price per built square…
SoBro pays $8.75 million to two separate sellers for four industrial properties in Morrisania in two separate transactions. In the first, SoBro also known as South Bronx Overall Economic Development Corporation through the entity Sobro Local Development Corporation paid $4.6 million to Joseph Maio through the entity Karen Realty Corp. for the industrial building (GU) at 1000 Brook Avenue in Morrisania, Bronx and industrial building…
IAC through the entity Htrf Ventures, LLC paid $80 million to the Resnioff family through the entity CCMR Responsive LLC for the land under the office building (O3) at 555 West 18th Street in Chelsea, Manhattan. The deal closed on April 4, 2023 and was recorded on April 17, 2023. The property has 196,500 square feet of built space and 24,401 square feet of additional…
Urban View Development Group through the entity 503 Evergreen Avenue LLC as borrower signed a refi loan with lender Terra Solid Capital valued at $6.9 million for the property at 499 and 503 Evergreen Avenue in Bushwick, Brooklyn. The deal closed on March 30, 2023 and was recorded on April 14, 2023. The prior lender was Goldman Sachs affiliate Genesis Capital which held debt that…
Cammeby’s International Group through the entity 83-15 Lefferts House Owner LLC as borrower signed a refi loan with lender Capital One valued at $13.2 million for the 90-unit residential elevator building (D1) at 83-15 Lefferts Boulevard in Kew Gardens, Queens. The deal closed on March 29, 2023 and was recorded on April 14, 2023. The prior lender was Capital One which held debt that had…
Jay Group through the entity 210 Greenpoint Realty LLC as borrower signed a new construction loan with lender Bank Hapoalim valued at $34.8 million for the 70-unit project at 237 McGuinness Boulevard also known as 210 Greenpoint Avenue in Greenpoint, Brooklyn. There is a new building project for a 70-unit, 57,673 square-foot residential (R-2) building submitted by Jay Group and filed by Joel Kohn with…
Almutasemb Shehada through the entity 8418 5th Avenue LLC paid $1.9 million to William S. Hionas through the entity WHN Realty Corp. for the two-unit mixed-use building (S2) at 8418 5th Avenue in Bay Ridge, Brooklyn. The deal closed on March 27, 2023 and was recorded on April 14, 2023. The property has 3,300 square feet of built space and 102 square feet of additional…
Eduard Kandinov through the entity Golden Harlem LLC paid $1.9 million to Derrick W. Taitt through the entity Rairasdan125 LLC for the four-unit property (C4) at 20 East 125th Street in East Harlem, Manhattan. The deal closed on April 4, 2023 and was recorded on April 14, 2023. The property has 4,900 square feet of built space and 3,168 square feet of additional air rights…
Peter Zuccarello through the entity P.A.Z. Realty, LLC paid $3 million to Yongyut Limleartvate through the entity Glp Queensblvd Realty LLC for the industrial building (G2) at 52-19 Queens Boulevard in Woodside, Queens. The deal closed on March 28, 2023 and was recorded on April 14, 2023. The property has 4,000 square feet of built space and 15,996 square feet of additional air rights for…
In the first quarter of the year, the dollar volume and the number of loan transactions fell sharply for New York City commercial real estate as lenders and borrowers digested the continuing impact of high interest rates as well as the failure of Signature Bank last month. The dollar volume was down almost 50 percent from $20.8 billion in the first quarter of 2022 to…
The number and dollar value of New York City commercial real estate bankruptcies declined last month compared with the prior month, but the number and volume of pre-foreclosures rose at the same time but both remained below the highest levels of late 2022, a PincusCo review of court data reveals. The data track actions of $1 million and up. Property owners filed nine bankruptcies with…
Abro Management through the entity 77 Realty Owner LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $20.9 million for the 90-unit residential elevator building (D7) at 1453 York Avenue in Lenox Hill, Manhattan. The deal closed on April 4, 2023 and was recorded on April 13, 2023. The prior lender was JPMorgan Chase which held debt that had an original…
Broadway Stages through the entity 51-02 21st Realty LLC as borrower signed a refi loan with lender TD Bank valued at $21 million for the industrial building (F9) at 11-58 Borden Avenue in Long Island City, Queens. The deal closed on March 29, 2023 and was recorded on April 13, 2023. The prior lender was TD Bank which held debt that had an original loan…
The entity 51 S 1 LLC paid $4.2 million to Aaron Kohn through the entity K&C IV, LLC for the industrial building (F4) at 51-53 South 1st Street in Williamsburg, Brooklyn. The deal closed on March 31, 2023 and was recorded on April 13, 2023. The property has 4,080 square feet of built space and 6,442 square feet of additional air rights for a total…
Anibal Gomez through the entity 3219 Tremont Place LLC paid $5.2 million to Bluestone Group through the entity 3219 E. Tremont Holdings LLC for the office building (O2) at 3219 East Tremont Avenue in Schuylerville, Bronx. The deal closed on April 5, 2023 and was recorded on April 13, 2023. The property has 16,010 square feet of built space according to a PincusCo analysis of…
The entity 10 Tompkins LLC paid $5.5 million to Peter Herrick through the entity Herrick 271 LLC for the 18-unit residential walkup building (C7) at 271 East 10th Street in East Village, Manhattan. The deal closed on March 31, 2023 and was recorded on April 13, 2023. The property has 9,035 square feet of built space and 450 square feet of additional air rights for…
The trustee of a securitized loan with an original principal of $13.25 million secured by 440 Broadway in SoHo, Manhattan, filed a pre-foreclosure action against an affiliate of Joseph Sitt’s Thor Equities, which owns the retail building. The loan is allegedly in default since the loan matured in January 2023 and was not paid off, according to the complaint. Court filings represent the positions of…
Kamran B. Neman through the entity East 53 Plaza LLC as borrower signed a new construction loan with lender First Republic Bank through the entity First Republic Bank valued at $5.9 million for the industrial building (G7) at 61 East 53rd Street in East Flatbush, Brooklyn. On the lot, there is one active new building construction project for a 20-unit, 14,700 square-foot R-2 building. The…
Farzad Shahery through the entity 3750 Broadway Realty Group LLC as borrower signed a loan with lender First Republic Bank valued at $6.8 million for two residential walkup properties with 26 residential units including the 16-unit residential walkup building (C7) at 2 St Nicholas Terrace in Harlem, Manhattan and 10-unit residential walkup building (C4) at 4 St Nicholas Terrace in Harlem, Manhattan. The deal closed…
An affiliate of wholesaler Elite Group International NY through the entity RNA Management LLC paid $2.7 million to Hidrock Properties through the entity 3536 Associates LLC for two office condos at 35 West 36th Street in Garment District, Manhattan. The deal closed on April 5, 2023 and was recorded on April 12, 2023. The two properties have 4,558 square feet of built space according to…
