The Leser Group and David Marom through the entity Elem 340 LLC as borrower signed a new construction loan with lender Ponce Bank valued at $58 million for the 65-unit project at 609 Second Avenue in Kips Bay, Manhattan. On the lot, there is one active new building construction project for a 65—unit, 66,200 square-foot R-2 building. The project was developed by David Marom with…
Paulin Lumaj through the entity 1968 Crotona LLC paid $2.5 million to Victor Burgos Jr. and Elizabeth Burgos for a 50-unit development site at 1968 -1970 Crotona Avenue in Tremont, Bronx. On these lots, there is one active new building construction project for a 50-unit, 34,163 square-foot R-2 building. The project was developed by Paul Lumaj with plans filed October 7, 2022. The deal closed…
Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $5.4 million to Alon Ashourzadeh through the entity 195 Meserole LLC for the five-unit residential walkup building (C2) at 195 Meserole Street in Williamsburg, Brooklyn. The deal closed on March 23, 2023 and was recorded on March 28, 2023. The property has 4,525 square feet of built space and 1,550 square feet of additional air…
The billionaire Pears brothers through the entity Jober Upper Fifth Ave. LLC paid $22.5 million to Tahl Propp Equities through the entity 1325 Fifth Avenue LLC for 87 unsold condominium units at 1330 Fifth Avenue and 1325 Fifth Avenue in Harlem, Manhattan. The Pears brothers of England have been one of the most active buyers of unsold cooperative and condo units in the city over…
Forkosh Development Group through the entity Coral Crystal LLC as borrower signed a refi loan with lender Webster Bank valued at $65 million for the 91-unit hotel building (H8) at 125 Third Avenue in Gramercy, Manhattan, at the corner of 14th Street. This is a New York University dorm building. The deal closed on March 23, 2023 and was recorded on March 27, 2023. The…
BentallGreenOak and Slate Property Group through the entity Biltmore Owner, LLC as borrower signed a refi loan with lender Affinius Capital through the entity SM Finance III LLC valued at $163.4 million for the 464-unit residential elevator building (D6) at 770 Eighth Avenue in Hell’s Kitchen, Manhattan. BentallGreenOak and Slate Property Group obtained this senior debt as part of a larger $248 million financing package,…
Bryan Sarfati through the entity 2423 Avenue U Realty LLC paid $2.1 million to Hockuen Fung for the two-unit mixed-use building (K4) at 2423 Avenue U in Sheepshead Bay, Brooklyn, at the corner of Bedford Avenue. The deal closed on March 20, 2023 and was recorded on March 27, 2023. The property has 3,360 square feet of built space according to PincusCo analysis of city…
Coliving company Cohabs through the entity Kingston120 LLC paid $2.3 million to Oren Goldhaber through the entity 120 Kingston LLC for the three-unit mixed-use building (S3) at 120 Kingston Avenue in Crown Heights, Brooklyn. The deal closed on March 16, 2023 and was recorded on March 27, 2023. The property has 5,646 square feet of built space according to PincusCo analysis of city data. The…
Victor Peng through the entity 35-07 Collins Place LLC paid $3.1 million to Robert Mannheimer through the entity Northern-Collins Corporation for the industrial buildings (E9) at 34-69 Collins Place and (E1) at 34-65 Collins Place in Flushing, Queens. The deal closed on March 17, 2023 and was recorded on March 27, 2023. The two properties have 13,200 square feet of built space according to PincusCo…
Lalezarian Properties through the entity First And River LLC paid $33.5 million to Princeton International Properties through the entity Jericho Office, LLC for office building (O6) at 650 First Avenue in Murray Hill, Manhattan. The deal closed on March 23, 2023 and was recorded on March 27, 2023. The property has 98,400 square feet of built space and 17,641 square feet of additional air rights…
Former lender HPS Investment Partners acquired control of the office building (O4) at 850 Third Avenue in Midtown East, Manhattan from the Chetrit Organization. The city valued the transfer at $265.9 million. The transaction closed on March 16, 2023 and was recorded on March 27, 2023. HPS Investment Partners acquired the property through the entity 850 Third Nominee LLC and the Chetrit Organization turned it…
The volume of New York City investment sales recorded in city property records is trending downward, with only $1.25 billion in commercial sales recorded in New York City in March so far. With five more days to go in the month, the total dollar volume is only about a quarter of the full-month total of $4.8 billion in more than 200 sales in March 2022….
Grapetree Lending LLC in care of Altisource Asset Management bought a note with an original principal of $5.5 million from SSA NE Assets, LLC secured by the industrial building (G1) at 18-20 Steinway Street in Ditmars Steinway, Queens. The Okon family which operates the multi-state black car and limousine service, The BLS Company, owns the building, which is the local New York City office. The…
Ken Huang through the entity 90-10 Ditmars Holding LLC as borrower signed a refi loan with lender Popular Bank valued at $54.3 million for the hotel building (H3) at 90-10 Ditmars Boulevard in Jackson Heights, Queens. The deal closed on March 22, 2023 and was recorded on March 24, 2023. The prior lender was Maxim Capital Group which held debt that had an original loan…
A buyer through the entity NY Seddon 1741 LLC paid $2.8 million for the development site (V0) at 1741 Seddon Street in Westchester Square, Bronx. The deal closed on March 15, 2023 and was recorded on March 24, 2023. The property has zero square feet of built space and 26,644 square feet of additional air rights for a total buildable of 26,644 square feet according…
George Kapanadze of Dimensional Stone Fabricators through the entity Chelsea Industrial Buildings LLC paid $3.1 million to Rakip Vrlaku through the entity Rocky’s Construction Inc. for the industrial building at 317 Chelsea Road in Bloomfield, Staten Island. Dimensional Stone Fabricators, an architectural stone supplier, owns the parcel just to the south, at 333 Chelsea Road. The deal closed on March 7, 2023 and was recorded…
BWH Group through the entity 48 Somers LLC paid $3.8 million to Haim Levy through the entity 48 Somers Holding LLC for the 24-unit development site (V1) at 48 Somers Street in Bedford Stuyvesant, Brooklyn. On the lot, there is one active new building construction project for a 24-unit, 33,760 square-foot residential (R-2) building. The project was developed by Haim Levy with plans filed January…
Rubin Equities of 89 Ave Realty LLC as borrower signed a construction loan with lender Popular Bank valued at $20.9 million for the 69-unit project at 148-15 89th Avenue in Jamaica, Queens. On the lot, there is one active new building construction project for a 69-unit, 46,876 square-foot R-2 building. The project was submitted by Rubin Equities and filed by Sam Rubin with plans filed…
CBSK Developers through the entity Bathhouse Lodge LLC as borrower signed a construction loan with lender Procida Funding’s 100 Mile Riss LLC valued at $32.5 million for the Jacob Riis Bathhouse building (Q1) at 157 Rockaway Beach Boulevard in the Rockaways, Queens. The deal closed on March 10, 2023 and was recorded on March 23, 2023. The property has 50,000 square feet of built space…
Triangle Equities through the entity South Conduit Warehouse Owner, LLC as borrower signed a loan with lender H.I.G. Capital through its H.I.G. Realty Credit Holdings, LLC valued at $60 million for the 296,210-square-foot, five-story property at 130-02 South Conduit Avenue in South Ozone Park, Queens. The deal closed on March 15, 2023 and was recorded on March 23, 2023. The block On this tax block,…
