Nicholas V. Balzano through the entity Niko Mgm Corp. paid $3 million to Dorotea Marcello for the 24-unit residential walkup building (C1) at 2233 81st Street in Gravesend, Brooklyn. The deal closed on March 31, 2023 and was recorded on April 12, 2023. The property has 17,760 square feet of built space according to a PincusCo analysis of city data. The sale price per built…
A buyer in care of Relo Redac Inc. through the entity 314 West 51 LLC paid $4.8 million to Peter Alpi through the entity Matisse Fifty-First Realty Co., L.P. for the 10-unit residential walkup building (C4) at 314 West 51st Street in Hell’s Kitchen, Manhattan. The deal closed on April 5, 2023 and was recorded on April 12, 2023. The property has 7,605 square feet…
Jian Wu Chen and Xiao Chu Zhou through the entity C&Z Main LLC paid $6.8 million to Ming-Yuan Chen through the entity 36-29/31 Main Street Corp. for the retail building (O5) at 36-29 Main Street in Flushing, Queens. The deal closed on March 30, 2023 and was recorded on April 12, 2023. The property has 9,460 square feet of built space according to a PincusCo…
The William Pears Group through the entity Jober Upper Riverside LLC paid $54.5 million to the Pinnacle Group for 315 unsold free market and rent regulated condominium units in 13 buildings in Harlem and Washington Heights, Manhattan. The buyer is an affiliate of the billionaire Pears brothers who also buy in New York City under the name Tremada, which is a name created from the…
Park-It Management through the entity Harlem Park Assoc. LLC as borrower signed a refi loan with lender First Republic Bank valued at $46.5 million for the specialty building (I9) at 160 West 124th Street in Harlem, Manhattan. The deal closed on December 20, 2022 and was recorded on April 10, 2023. The prior lender was JPMorgan Chase which held debt that had an original loan…
Bijan Nassi through the entity 60-62 E. Eleventh Street Corp. as borrower signed a loan with lender Avant Capital through the entity Avant Capital SBL 2 LLC valued at $12.8 million for three office properties with one residential unit including the office building (O6) at 97 University Place in Greenwich Village, Manhattan, office building (O6) at 60 East 11th Street in Greenwich Village, Manhattan, and…
L+M Development Partners through the entity HP West 116 Street Housing Dev. Fund Co. Inc. as borrower signed a loan with lender Lument through the entity Lument Real Estate Capital, LLC valued at $38.6 million for the 120-unit residential elevator building (D1) at 5 West 116th Street in Harlem, Manhattan. The deal closed on March 31, 2023 and was recorded on April 11, 2023. The…
Jay Group, AB & Sons Group and Jacob Aini through the entity 620w153 AA LLC and others as borrowers signed a loan with lender H.I.G. Capital through the entity H.I.G. Realty Financing II LLC valued at $81.6 million for the 238-unit development at 620 West 153rd Street in Harlem, Manhattan. The deal closed on April 3, 2023 and was recorded on April 11, 2023. This…
Hudsonpoint Properties LLC paid $1.9 million to Duk Sun Park and Soo Sun Park for the six-unit residential walkup building (C2) at 529 West 150th Street in Harlem, Manhattan. The deal closed on March 28, 2023 and was recorded on April 11, 2023. The property has 3,629 square feet of built space and 1,461 square feet of additional air rights for a total buildable of…
Developer Joel Schwartz through the entity 3051 Atlantic Bx LLC paid $2.1 million to the estate of Freida Vita Lo Bello for the corner development site at 3051 Atlantic Avenue in Cypress Hills, Brooklyn. On the lot, there is one active new building construction project for a 49-unit, 34,153 square-foot R-2 building. The project was submitted by Barry Wagschal and filed by Barry Wagschal with…
Global Wood Distributors through the entity 4425 1st Avenue LLC paid $9.2 million to Anthony Gallina of T. & O. Management Corporation for the industrial building (E1) at 4419-4429 1st Avenue in Sunset Park, Brooklyn. The deal closed on March 30, 2023 and was recorded on April 11, 2023. The property has 15,000 square feet of built space and 15,000 square feet of additional air…
Namdar Realty Group and Empire Capital Holdings through the entities Mercedes 11th Realty LLC and Empire MH 26 LLC paid $100.1 million to Invesco Real Estate through the entity MH 770-54th Street LLC for the 162-unit condominium block at the top 10 floors of the Mercedes House at 550 West 54th Street in Hell’s Kitchen, Manhattan. To finance the purchase, the Deutsche Bank provided a…
The entity 2403 Third Ave Operating LLC paid $7.1 million to Beethoven Pianos through the entity Kai Development Corp. for the industrial building (E1) at 2403 3rd Avenue in Mott Haven, Bronx. The deal closed on March 6, 2023 and was recorded on April 10, 2023. The property has 38,850 square feet of built space and 12,901 square feet of additional air rights for a…
The Leser Group through the entity Central Avenue Developers LLC paid $8.5 million to 111 Montgomery LLC for the development parcels at 118 Central Avenue in St George, Staten Island. The deal closed on February 27, 2023 and was recorded on April 10, 2023. The 11 properties have zero square feet of built space and 101,799 square feet of additional air rights for a total…
Amerant Bank acquired from the joint venture Delancey Street Associates two retail condominiums with a transaction price of $24.4 million that make up a portion of the store space at the base of the building 242 Broome Street, the western-most tower in the nine-building, nearly 2-million-square foot Essex Crossing in the Lower East Side of Manhattan. 242 Broome Street is a residential and commercial condominium…
BentallGreenOak through the entity Linden Logistics ILP LLC paid $20.4 million to Charles Monchik through the entity 2300 Linden Realty Corp. for the industrial building (E1) at 2300 Linden Boulevard in East New York, Brooklyn. BentallGreenOak acquired the ground lease position in a transaction valued at $24.7 million in January 2021. Amazon is a subtenant in the building. The new sale closed on April 4,…
A Rialto Capital affiliate through the entity RSS Comm2015dc1-NY 115, LLC, acquired 115 Mercer Street in SoHo, Manhattan, through a foreclosure auction from the prior owner Thor Equities, with the transfer price of $18.4 million. Rialto Capital was the special servicer for the loan with an original principal of $37 million. PincusCo reported on the sale in December but did not identify the new owner…
The New York City School Construction Authority paid $50 million to Stawski Partners through the entity Long Island City Center LLC for the office building (O2) at 23-10 43rd Avenue in Long Island City, Queens. The city plans to demolish the existing structure to build a 547-seat elementary school, the Sunnyside Post reported last year. The deal closed on April 5, 2023 and was recorded…
Candor Capital through the entity 3321 Glenwood LLC as borrower signed a refi loan with lender Valley National Bank valued at $10.9 million for the development at 3321 Glenwood Road in East Flatbush, Brooklyn. The deal closed on April 3, 2023 and was recorded on April 7, 2023. The prior lender was S3 Capital which held debt that had an original loan amount of $8.2…
Elmo Realty through the entity Empire Development Fund 2 LLC as borrower signed a new construction loan with lender Metropolitan Commercial Bank valued at $26 million for the development building (V1) at 2535 Fredrick Douglass Boulevard in Harlem, Manhattan. The deal closed on March 13, 2023 and was recorded on April 7, 2023. The prior lender was JY Capital Group which held debt that had…
