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Werwaiss Properties signs $110M construction loan with AIG for 240-unit project in LIC

Werwaiss Properties through the entity 42nd Road LIC Property Owner LLC as borrower signed a new construction loan with lender AIG through the entity Aig Asset Management (U.S.), LLC valued at $110 million for two properties including the industrial building (G1) at 23-02 42nd Road in Long Island City, Queens. On these lots, Werwaiss has filed two new building construction projects and major alteration projects…

Lubavitch congregation pays $2.8M for mixed-use in Crown Heights

Congregation Oholei Yosef Yitzchok Lubavitch paid $2.8 million to Harry Abramowicz and Gil Lazar for the two-unit mixed-use building (S2) at 333 Albany Avenue in Crown Heights, Brooklyn. The deal closed on March 3, 2023 and was recorded on March 9, 2023. The property has 4,180 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot…

Pediatrician pays $3.2M to Poulakakos family for two mixed-use properties in Bay Ridge

Hanan Salman, who owns a pediatrics center, through the entity 7107-11 5th Ave Realty LLC paid $3.2 million to the Peter Poulakakos family through the entity 7111 Fifth LLC for mixed-use building (K4) at 7111 5th Avenue in Bay Ridge, Brooklyn and two-unit mixed-use building (S2) at 7107 5th Avenue in Bay Ridge, Brooklyn. The deal closed on February 22, 2023 and was recorded on…

Calogero Troia pays $3.4M to Robert Vigorito for mixed-use in Williamsburg

Calogero Troia through the entity Williamsburg 359 LLC paid $3.4 million to Robert Vigorito for the two-unit mixed-use building (S2) at 359 Metropolitan Avenue in Williamsburg, Brooklyn. The deal closed on March 2, 2023 and was recorded on March 9, 2023. The property has 3,188 square feet of built space and 2,853 square feet of additional air rights for a total buildable of 6,028 square…

Bukharian Community Center pays $4.6M to Avraham Dishi for retail in Fresh Meadows

The Bukharian Community Center paid $4.6 million to Avraham Dishi through the entity Dlrmd Realty Company LLC for retail building (K1) at 185-01 Union Turnpike in Fresh Meadows, Queens. The deal closed on February 7, 2023 and was recorded on March 9, 2023. The property has 4,836 square feet of built space according to PincusCo analysis of city data. The sale price per built square…

Harbans Singh pays $5.6M for formerly bankrupt properties in South Richmond Hill

Harbans Singh through the entity 112 101 Avenue LLC paid $5.6 million for the 10-unit residential walkup building (C7) at 112-18 101st Avenue in South Richmond Hill, Queens and two-unit mixed-use building (S9) at 112-16 101st Avenue in South Richmond Hill, Queens. The former owner, an entity controlled by Jarnail Singh, filed for bankruptcy. The deal closed on March 1, 2023 and was recorded on…

Auto dealer pays $35M for industrial properties in Sunnyside

Car dealer Dennis & Co. Auto Group through the entity Dco Qozb 38-15 Qb, LLC paid $35 million to Savas Tsitiridis, Silke Tsitiridis, and Eftihia Tsitiridis through the entity 38-15 Owner, LLC for industrial building (G1) at 38-08 43rd Avenue in Sunnyside, Queens and industrial building (G1) at 38-15 Queens Boulevard in Sunnyside, Queens. The deal closed on February 28, 2023 and was recorded on…

Rialto Capital files $6.8M pre-foreclosure against Bushwick walkups

Rialto Capital Management as lender filed a pre-foreclosure action in Brooklyn State Supreme Court alleging the owner of 1818 Troutman Street and 303 Stockholm Street, Lazar Waldman, was in default on the loan with an original principal of $6.8 million. Rialto bought the loan in June 2021 from Sterling National Bank. Waldman bought both properties in 2015 and then filed new building plans calling for…

NYC commercial pre-foreclosure suits rose last month to $181M

The dollar volume of commercial pre-foreclosure actions in New York City rose last month to $181 million, up from $110 million in January, but still below the 12-month average of $267 million, according to PincusCo data. Lenders filed 17 pre-foreclosure actions last month, compared with 27 in the prior month, but the filings last month were on average larger loans. The number of pre-foreclosure suits…

Parkview Financial files $9.4M pre-foreclosure at 22-unit project in East Harlem

Parkview Financial REIT filed a pre-foreclosure against the owners of a 22-unit residential development at 308 East 106th Street and 310 East 106th Street in East Harlem that secure a loan with an original principal of $9.38 million provided in 2021. Marc Salih purchased the two parcels at a city auction, for $62,000 in 1984, and over the years the city recorded a series of…

Jacob Kempler Family signs $9M refi with Santander for two rentals in Flatbush

Jacob Kempler Family Partnership through the entity 116 Lenox Realty, LLC as borrower signed a refi loan with lender Santander Bank valued at $9 million for two residential elevator properties including the 82-unit residential elevator building (D1) at 116 Lenox Road in Flatbush, Brooklyn and 81-unit residential elevator building (D1) at 75 Lenox Road in Flatbush, Brooklyn. The deal closed on February 24, 2023 and…

Taurus Investment Holdings, A24 sign $12.5M loan at Cherry Lane Theater in West Village

Boston-based Taurus Investment Holdings and A24 through the entity Cherry Lane Venue LLC as borrower signed acquisition and building loans with lender Northern Bank & Trust Company valued at $12.5 million for three properties including the eight-unit residential walkup building (C7) at 42 Commerce Street in West Village, Manhattan, 1-4 family building (A4) at 36 Commerce Street in West Village, Manhattan, and specialty building (J5)…

Muss Development signs $26M refi with Nationwide Life for 90-unit rental in East Harlem

Muss Development through the entity 119 Third Fee Owner, LLC as borrower signed a refi loan with lender Nationwide Life Insurance Company valued at $26 million for the 90-unit residential elevator building (D7) at 2182-2190 Third Avenue in East Harlem, Manhattan. The deal closed on March 2, 2023 and was recorded on March 8, 2023. The prior lender was Comm 2014-LC15 which held debt that…

Sophia Guevara pays $2.8M for retail in Baychester

Sophia Guevara through the entity 3000 Eastchester Road, LLC paid $2.8 million to Nadege Rihan through the entity 3000 Eastchester, LLC for retail building (K1) at 3000 Eastchester Road in Baychester, Bronx. The deal closed on February 28, 2023 and was recorded on March 8, 2023. The property has 4,610 square feet of built space according to PincusCo analysis of city data. The sale price…

Jin Sup An pays $5M for retail on Lower East Side

Jin Sup An through the entity Soho New York Lodging, LLC paid $5 million to Josef Ohayon through the entity Kyla Real Estate Co. Ltd. for a retail building (K2) at 99 Stanton Street on the Lower East Side, Manhattan. The deal closed on February 24, 2023 and was recorded on March 8, 2023. The property has 4,950 square feet of built space and 1,650…

Neue Urban pays $6M for 5-unit walkup in Financial District

Neue Urban through the entity 83 Warren Realty LLC paid $6 million to Julia Gruberg through the entity Bedlam Management Company, LLC for the five-unit residential walkup building (C2) at 83 Warren Street in Financial District, Manhattan. The deal closed on February 28, 2023 and was recorded on March 8, 2023. The property has 8,560 square feet of built space and 2,718 square feet of…

Sung Ja Bae pays $6.3M for industrial in Richmond Hill

Sung Ja Bae through the entity SJ Richmond LLC paid $6.3 million to Craig R. Strauss through the entity Electron Top Holding, LLC for industrial building (F9) at 126-15 89th Avenue in Richmond Hill, Queens. The deal closed on December 8, 2022 and was recorded on March 8, 2023. The property has 19,750 square feet of built space and 3,312 square feet of additional air…

Giorgio Angelini pays $6.9M for 4-family in Turtle Bay

Giorgio Angelini through the entity 409 E. 51st, LLC paid $6.9 million to Carol Hayden Perowne for four-unit property (C5) at 409 East 51st Street in Turtle Bay, Manhattan. The deal closed on February 17, 2023 and was recorded on March 8, 2023. The property has 3,500 square feet of built space and 4,029 square feet of additional air rights for a total buildable of…

Brooklyn Home Company pays $7.5M to church for parcel in Park Slope

A Brooklyn Home Company affiliate through the entity 306 6th Ave LLC paid $7.5 million to Mission for Today Holy Tabernacle for the church building (M1) at 306 6th Avenue in Park Slope, Brooklyn. PincusCo reported in December 2021 that an affiliate of the Brooklyn Home Company signed a contract to buy the property. The deal closed on February 24, 2023 and was recorded on…

Joseph Grubner pays $12.2M for 82-unit walkup in Marble Hill

Joseph Grubner through the entity 2 Adrian LLC paid $12.2 million to Naomi Scheuer through the entity Adrian Avenue Associates for 82-unit residential walkup building (C1) at 2 Adrian Avenue in Marble Hill, Manhattan. The deal closed on March 2, 2023 and was recorded on March 8, 2023. The property has 60,070 square feet of built space according to PincusCo analysis of city data. The…