Mohammed Chowdhury through the entity 168th Place Condominium LLC paid $7.2 million to Sohail I. Cheema through the entity Ssl Development LLC for two five-unit mixed-use buildinsg (S5) at 87-44 and 87-46 168th Place in Jamaica Hills, Queens. The deal closed on February 16, 2023 and was recorded on March 1, 2023.The two properties have 13,464 square feet of built space according to PincusCo analysis…
Maurizio Prainito through the entity Ml Realty Rockaway LLC paid $7.4 million to Jeff Sutton of Wharton Properties through the entity 2001 Rockaway Parkway LLC for the retail building (O1) at 2001 Rockaway Parkway in Canarsie, Brooklyn. Jeff Sutton bought the property for $2.4 million in late 2020. The deal closed on February 27, 2023 and was recorded on March 1, 2023. The property has…
Naomi Lebovits and George Lebovits through the entity Ahava Nostrand, LLC paid $11 million to George L. Malin and William N. Weidman for the retail building (K1) at 2577 Nostrand Avenue in Flatlands, Brooklyn. The Malin and Weidman partnership owns about a dozen commercial properties in New York City, according to a PincusCo analysis of property records. The deal closed on February 28, 2023 and…
Wavecrest Management and Settlement Housing Fund through the entity 1350 Bedford Avenue LLC paid $18 million to Lewis Henkind through the entity Grant Development Associates, L.P. for the 79-unit residential elevator building (D3) at 1350 Bedford Avenue in Crown Heights, Brooklyn. The deal closed on December 29, 2022 and was recorded on March 1, 2023. The property has 86,000 square feet of built space and…
Ponce Bank filed a pre-foreclosure action against the owners of the stalled hotel development site at 136-25 41st Avenue in Flushing, Queens, alleging the $4.1 million loan provided in 2019 is now in maturity default. The property owners, Hang Zhao and Wing Fung Chau, bought the lot in 2016 for $8.68 million, then in 2017 filed plans to demolish the existing building and also filed…
Delshah Capital through the entity DS 30 Morningside Drive LLC as borrower signed a loan with lender Apollo Global Management through its Athene Annuity And Life Company valued at $165 million for the 205-unit property (D3) at 30 Morningside Drive in Morningside Heights, Manhattan. The deal closed on December 16, 2022 and was recorded on March 1, 2023. The property has 265,216 square feet of…
Vahe Sahakyan through the entity Brighton 11th St Dev LLC as borrower signed a new construction loan with lender Colorado Federal Savings Bank valued at $7.4 million for the 16-unit development at 31 Brighton 11th Street in Brighton Beach, Brooklyn. On these lots, there is one active new building construction project for a 16-unit, 16,728 square-foot R-2 building. The project was developed by Vahe Sahakyan…
New Destiny Housing Corporation through the entity Citywide Supportive Housing, Inc. as borrower signed a loan with lender NYS Homeless and Housing Assistance and Community Preservation Corporation valued at $8.8 million for the 27-unit specialty building (N9) at 2303 Andrews Avenue North in University Heights, Bronx. The deal closed on January 31, 2023 and was recorded on February 28, 2023.The property has 31,770 square feet…
The nonprofit Women In Need through the entity Powers Transitional Housing Development Fund Corp. as borrower signed a new construction loan with a trust in care of UMB Bank valued at $73.8 million for the property at 323 Jackson Avenue in Mott Haven, Bronx. On the lot, there is one active new building construction project for a 95-unit, 89,005 square-foot residential (R-2) building. The project…
UPDATED: Moses Ostreicher through the entity 216 Street LLC paid $3 million to the entity 729 E 216th St, Bronx, Ny LLC with the signatory Solomon Rabi, for the parking lot (G7) at 727 East 216th Street in Williamsbridge, Bronx. Ostreicher owns the neighboring parcel, 729 East 216th Street, purchased last month for $730,000. The deal closed on February 1, 2023 and was recorded on…
Sandhu Group through the entity 86 St NY LLC paid $4.8 million to Valentina Lvovsky through the entity 2501 86 Street LLC for the office building (O7) at 2501-2511 86th Street in Gravesend, Brooklyn. The deal closed on February 14, 2023 and was recorded on February 28, 2023. The property has 6,165 square feet of built space and 13,800 square feet of additional air rights…
Hersel Torkian’s Torkian Group through the entity 304 Eighth LLC paid $7.2 million to Nicholas Stroghilas, Robert Macropoulos, Helen Macropoulos, and John Macropoulos through the entity Eism LLC (and others) for the three-unit mixed-use building (S9) at 304 Eighth Avenue in Chelsea, Manhattan. The deal closed on February 15, 2023 and was recorded on February 28, 2023. The property has 6,361 square feet of built…
Nigel Boyden’s Kingsdel Real Estate paid $11 million for five properties in Brooklyn in two transactions representing two projects, one in East Flatbush and the other in Prospect Lefferts Gardens. Both projects are described on the Kingsdel Real Estate website. At 625 New York Avenue, there is one active new building construction project for a 45-unit, 43,380 square-foot residential (R-2) building. The project was developed…
Edward Rice through the entity Eloc Ftk LLC paid $11.5 million to Max Wm. Gurvitch, Norman Rosen, Alan Shriro, and Leonard S. Slavit for 16 vacant tax lots including 345 Cole Street and others on Bascome Avenue and Weiner Street, in Charleston, Staten Island. The deal closed on December 12, 2022 and was recorded on February 28, 2023. The 16 properties have zero square feet…
Yi Hua Chen through the entity Vernon 298 LLC paid $24.6 million to Soung Eun Hong through the entity Rainier Group Of New York, LLC for mixed-use building (K4) at 32-02 Linden Place in Flushing, Queens, industrial building (G7) at 32-11 Farrington Street in Flushing, Queens, and industrial building (G7) at 32-09 Farrington Street in Flushing, Queens. George Xu’s Century Development Group is developing a…
Brookfield Properties through the entity IV3 55-40 44th Street LLC as borrower signed an initial loan with lenders Bank of Montreal, Goldman Sachs, and Wells Fargo valued at $17.4 million for the industrial building (E9) at 55-40 44th Street in Maspeth, Queens. The deal closed on February 21, 2023 and was recorded on February 27, 2023. The property has 24,258 square feet of built space…
Ashkenazy Acquisition through the entity 177th Upper Broadway Holdings LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $19 million for the industrial building (G1) at 4168 Broadway in Washington Heights, Manhattan. The property was the subject of at least two lawsuits and allegations of loan defaults. The deal closed on February 23, 2023 and was recorded on February 27, 2023….
Steve Cheung through the entity E Home Real Estate 1 LLC as borrower signed a new construction loan with lender Popular Bank valued at $29.8 million for the 72-unit development at 179 22nd Street in Greenwood Heights, Brooklyn. There is a new building project for a 72-unit, 61,603 square-foot residential (R-2) building developed by Steve Cheung with plans filed May 22, 2016. The deal closed…
Avdoo & Partners Development through the entity Cobble Hill Owner LLC signed a contract this month to buy two former retail properties at 96 and 110 Boerum Place in Boerum Hill, Brooklyn from Hidrock Properties through the entity 110 BP Property LLC for an undisclosed price. The closing date was also not disclosed. The deal closed on February 23, 2023 and was recorded on February…
Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $2.4 million to Yosef Beer through the entity JB Covert LLC for the two-family building (A5) at 237 Covert Street in Bushwick, Brooklyn. The deal closed on February 17, 2023 and was recorded on February 27, 2023. The property has 1,896 square feet of built space and 2,903 square feet of additional air rights for…
