Thomas Burke through the entity Good Times Square LLC paid $5.8 million to Rakesh K. Aggarwal estate through the entity 249 W 49th Street, LLC for the retail building (K5) at 249 West 49th Street in Midtown West, Manhattan. The deal closed on April 3, 2023 and was recorded on April 5, 2023. The property has 4,515 square feet of built space and 20,582 square…
Ronald Chen through the entity Roosevelt Manor LLC paid $6.7 million to Paul McAfee and Monica Crowley through the entity 144-41 Roosevelt Ave LLC for three 20-unit residential walkup buildings (C1) at 144-47, 144-47 and 144-53 Roosevelt Avenue in Flushing, Queens. The deal closed on March 23, 2023 and was recorded on April 5, 2023. The three properties have 37,506 square feet of built space…
Frank Morano through the entity 27 Prince Holdings LLC paid $8.9 million to David Zahabian through the entity 27 Prince Street LLC for the 14-unit residential walkup building (C7) at 27 Prince Street in Nolita, Manhattan. The deal closed on March 29, 2023 and was recorded on April 5, 2023. The property has 8,615 square feet of built space and 5,398 square feet of additional…
Gerald Boyle through the entity Three Seven Merritt, LLC paid $9.2 million to Robert Troccoli through the entity Castro Realty Development, LLC for the industrial building (F5) at 3960 Merritt Avenue in Eastchester, Bronx and industrial building (E1) at 3966 Merritt Avenue in Eastchester, Bronx. The deal closed on March 29, 2023 and was recorded on April 5, 2023. The two properties have 24,860 square…
Aya Acquisitions through the entity 321-323-325 West 42nd Street LLC paid $20 million to Christ Stratakis through the entity Thera Realty LLC for three 12-unit residential walkup buildings (C7) at 321, 323 and 325 West 42nd Street in Hell’s Kitchen, Manhattan The deal closed on March 29, 2023 and was recorded on April 5, 2023. The three properties have 27,379 square feet of built space…
The nonprofit student housing firm Educational Housing Services paid $52.5 million to the Webster Apartments for the specialty building (N2) at 413 West 34th Street and the adjacent development parcel fronting 35th Street in Hudson Yards, Manhattan. The deal closed on March 27, 2023 and was recorded on April 5, 2023. The existing building has about 150,000 square feet of space and the parcels have…
The Chetrit Group alleges that Maverick Real Estate Partners conducted a UCC auction for control of the hotel development project at 255 West 34th Street in the Garment District, Manhattan, on January 18, 2023 in a “commercially unreasonable” way, thereby preventing outside buyers from participating. Because of that, the complaint says, the Chetrit Group lost out on $20 million that it would have been paid…
Highpoint Property Group through the entity 436 And 442 East 13th Street Owner LLC as borrower signed a refi loan with lender Prime Finance through the entity Prime Finance Short Duration Holding Company VIII valued at $16 million for two residential elevator properties with 12 residential units at 436 East 13th Street and 442 East 13th Street in East Village, Manhattan. The deal closed on…
Nahman Lichtenstein through the entity 867 4th Avenue LLC as borrower signed a refi loan with lender Varde Partners through the entity VMC Master Lender Upper Reit LLC valued at $64 million for the 150-unit residential elevator project at 867-875 4th Avenue in Greenwood Heights, Brooklyn. The deal closed on March 31, 2023 and was recorded on April 4, 2023. The prior lender was Madison…
UPDATED: Madison Realty Capital through the entity 625 Fulton 1 LLC sold $300 million of senior participation in Madison’s existing $400 million loan to affiliates of Apollo Global Management, secured by the 1,046-unit residential project at 625 Fulton Street in Fort Greene, Brooklyn. The loan also includes two other tax lots. Madison Realty Capital retains control of the servicing and administration of the original $450…
Jalin Lachapelle through the entity Breukelen One LLC paid $4.2 million to Debra Cooper through the entity Eiges Bros. LLC for the 30-unit residential elevator building (D1) at 1740 Carroll Street in Crown Heights, Brooklyn. The deal closed on March 29, 2023 and was recorded on April 4, 2023. The property has 38,604 square feet of built space according to a PincusCo analysis of city…
Haidong Weng through the entity 4901 Grand Ave Property LLC paid $4.6 million to Tian Fang Su through the entity 538 Morgan Realty LLC for the industrial building (F4) at 540 Morgan Avenue in East Williamsburg, Brooklyn. The deal closed on March 23, 2023 and was recorded on April 4, 2023. The property has 20,000 square feet of built space for a total buildable of…
Yeshiva Imrei Chaim Viznitz of Boro Park paid $5.5 million to Pamela Lee, Tianfu Chen, Matthew Li, Timothy Sautsang Lee, and Kenneth Wong through the entity Prosperity Equity LLC for a development site currently occupied by a two-unit 1-4 family building (B1) and garage at 931 41st Street in Borough Park, Brooklyn. The deal closed on March 30, 2023 and was recorded on April 4,…
George P. Sakellaris paid $20.1 million to Barberry Rose Management Company for two rental buildings in Washington Heights with a total of 66 units in two separate transactions. In the first, George P. Sakellaris through the entity GPS 3850 LLC paid $10.9 million to Barberry Rose Management Company through the entity 3850 Broadway Holding LLC for the 39-unit residential elevator building (D7) at 3850 Broadway…
Monarch Realty Holdings through the entity 340 Livingston Development LLC paid $11.3 million to a group of owners concentrated in Great Neck including Hesky Haim and Continental Equities Group through the entity 340 Livingston Group LLC (and others) for the office building (O5) at 340 Livingston Street in Boerum Hill, Brooklyn. The deal closed on March 30, 2023 and was recorded on April 4, 2023….
Energy company Sprague through the entity 149th LLC paid $73.5 million to Buckeye Partners through the entity Buckeye Terminals, LLC for six properties including the industrial building (F8) at 1040 East 149th Street in Mott Haven, Bronx. The deal closed on March 31, 2023 and was recorded on April 4, 2023. The six properties have 16,561 square feet of built space and 595,431 square feet…
Under pressure from Fannie Mae, property owner Zalmen Wagschal filed five petitions to place six Brooklyn walkup buildings with a total of $13.7 million in original debt into bankruptcy protection. The filings were submitted yesterday in the U.S. Bankruptcy Court Eastern District of New York in Brooklyn. Wagschal refinanced the properties in 2018 through Greystone & Co. which assigned the debt to Fannie Mae, which…
Joyland Group through the entity Lorimer Corner Broadway LLC as borrower signed a construction loan with lender Cross River Bank valued at $31.5 million for the property at 271 Lorimer Street in Williamsburg, Brooklyn. The deal closed on March 30, 2023 and was recorded on April 3, 2023. The signatory for Joyland Group was Judy Minster. Violations and lawsuits There were no lawsuits or bankruptcies…
Lalezartian Properties through the entity First And River LLC as borrower signed a rehabilitation construction loan with lender TD Bank valued at $50 million for the office building (O6) at 650 First Avenue in Murray Hill, Manhattan. The deal closed on March 23, 2023 and was recorded on April 3, 2023. The property has 98,400 square feet of built space and 17,639 square feet of…
The Wilf family’s Skyline Developers through the entity 10 W 55 LLC as borrower signed a construction loan with lender Goldman Sachs Bank valued at $135.2 million for a 96-unit, 152,689-square-foot mixed-use project at 10 West 55th Street in Midtown West, Manhattan. The deal closed on March 22, 2023 and was recorded on April 3, 2023. Skyline Developers filed plans in 2020. They bought the…
