REDA Holdings through the entity Reda 50 North First LLC paid $34.9 million to Kushner Companies through the entity 50 North One LLC for the 46-unit residential elevator building (D1) at 50 North First Street in Williamsburg, Brooklyn. The deal closed on January 30, 2023 and was recorded on February 13, 2023. The property has 54,698 square feet of built space according to PincusCo analysis…
Fortress Investment Group through the entity 125 Greenwich Owner LLC acquired control of the development at 125 Greenwich Street in the Financial District from Bizzi & Partners Development through the entity VS 125 LLC valued at $598.2 million. The development had been the subject of a long-running foreclosure suit and a number of mechanic’s liens. The recapitalization includes $313 million in construction financing that Northwind…
Carlyle Group through the entity Townhouse Rental, L.L.C. as borrower signed a loan with lender Invesco through the entity Invesco CMI Investments, L.P. valued at $18.96 million for 34 properties including the eight-unit residential walkup building (C1) at 705 Lafayette Avenue in Bedford Stuyvesant, Brooklyn, four-unit 1-4 family building (C3) at 82 Clinton Avenue in Clinton Hill, Brooklyn, and four-unit 1-4 family building (C3) at…
The coliving investment firm Cohabs through the entity 645 Putnam LLC paid $3 million to Ensman Alexander for four-unit building (C3) at 645 Putnam Avenue in Bedford Stuyvesant, Brooklyn. The deal closed on January 25, 2023 and was recorded on February 10, 2023.The property has 6,509 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot…
Joey Araman through the entity 2848 Realty LLC paid $5.9 million to Jack and Albert Aini through the entity 2848 Church Avenue Holding LLC for the mixed-use building (K4) at 2848 Church Avenue in East Flatbush, Brooklyn. Albert Aini acquired the building in 1992. The deal closed on February 8, 2023 and was recorded on February 10, 2023. The property has 8,400 square feet of…
Rockrose Development through the entity 100 DK L.L.C. paid $3.8 million to Stephen Sun and Thomas Sun through the entity 100 Dekalb LLC for the three-unit mixed-use building (S3) at 100 Dekalb Avenue in Fort Greene, Brooklyn, which is adjacent to Rockrose Development’s 609-unit construction project. The deal closed on January 31, 2023 and was recorded on February 10, 2023. The property has 4,046 square…
David Grunfeld and Joel Wieder through the entity Gw Universe LLC as borrower signed a new construction loan with lender NorthEast Community Bank valued at $11.7 million at 1892-1896 University Avenue in Morris Heights, Bronx. On the lot, there is one active new building construction project for a 47-unit, 27,740 square-foot R-2 building. The project was developed by Chaim Schwartz with plans filed June 10,…
Taconic Partners through the entity 125 West End Office Associates LLC as borrower signed a refi loan with lender Jackson National Life Insurance Company and Apollo Global Management through the entity Jackson National Life Insurance Company valued at $300 million for the property at 125 West End Avenue in Lincoln Square, Manhattan. The deal closed on February 6, 2023 and was recorded on February 10,…
Rockrose Development paid $22 million to the Teamsters Local 807 for a development site in Astoria, Queens, in three transactions. In the first, Rockrose Development through the entity 3243 Astoria L.L.C. paid $10.1 million to the Teamsters Local 807 through the entity 32-43 49th Street Holding Corp. for office building (O2) at 32-43 49th Street in Astoria, Queens. The deal closed on February 1, 2023…
Evenhar Development paid a total of $21 million for a development site in East Harlem to two separate sellers in two transactions. Evenhar has not filed new building plans at the site that would use all the development rights. In the larger purchase, Evenhar Development through the entity Lexington Two Holdings LLC paid $15.2 million to the Children’s Aid Society for property at 130 East…
A New York State Supreme Court judge ordered the foreclosure sale of BentallGreenOak and Capstone Equities’ 5 East 59th Street, a Plaza District office and retail building with $69.7 million in debts, according to the order signed February 6, 2023. The order did not specify a sale date, only noting the sale must be held within a year. The decision comes 15 months after United…
The lender holding a $105 million note filed a pre-foreclosure action against an affiliate of Joseph Sitt’s Thor Equities that owns the retail and office buildings at 597 Fifth Avenue and 3 East 48th Street in Midtown East, Manhattan. Thor Equities bought the two buildings in 2011 for $108.5 million from Kuwaiti investor, Dr. Louai Alassar’s A&A Acquisitions, the New York Post reported at the…
Joel Landau, Bent Philipson and another partner paid $44 million to Sean Lavin’s Galway Properties, LLC for the addiction treatment facility (I1) at 159-05 Union Turnpike in Fresh Meadows, Queens. Sean Lavin leads Townhouse Property Group. The deal closed on February 3, 2023 and was recorded on February 10, 2023. The property has 79,800 square feet of built space and 64,008 square feet of additional…
Abraham Biller through the entity 2069 Honeywell LLC as borrower signed a refi loan with lender Orange Bank & Trust Company valued at $14.9 million for the newly built 51-unit rental apartment at 2069 Honeywell Avenue in West Farms, Bronx. The loan closed on January 25, 2023 and was recorded on February 9, 2023. The prior lender was NorthEast Community Bank which held debt that…
Three Wall Capital through the entity Union Hotel Property LLC as borrower signed a refi loan with lender Ardent Companies through the entity Aff V Trust valued at $19.2 million for the hotel building (H3) at 625 Union Street in Gowanus, Brooklyn. The deal closed on February 3, 2023 and was recorded on February 9, 2023. The prior lender was Trimont Real Estate Advisors which…
Cammeby’s International Group through the entity Beach Haven Apartments Associates LLC as borrower signed a refi loan with lender NewPoint Real Estate Capital valued at $136.9 million for nine residential elevator properties with a total of 1,260 units including the 240-unit residential elevator building (D1) at 2612 West 2nd Street in Gravesend, Brooklyn, 240-unit residential elevator building (D1) at 638 Avenue Z in Gravesend, Brooklyn,…
Oleg Krasnitskiy and Raquel Wasserman through the entity 2990 Nostrand Property LLC paid $1.5 million to Yasser Aly through the entity 2990 Nostrand Avenue Realty LLC for five-unit mixed-use building (S5) at 2990 Nostrand Avenue in Sheepshead Bay, Brooklyn. The deal closed on January 26, 2023 and was recorded on February 9, 2023.The property has 5,100 square feet of built space according to PincusCo analysis…
Maggy Karawia through the entity Hart Property Services LLC paid $1.5 million to Jonathan More, Joan Wormser, and Michael Feldman through the entity 865 Hart Partners LLC for the six-unit residential walkup building (C2) at 865 Hart Street in Bushwick, Brooklyn. The deal closed on February 6, 2023 and was recorded on February 9, 2023. The property has 5,250 square feet of built space and…
UPDATED 6:20 p.m., February 10, 2025: The entity Domus Brooklynis, LLC paid $3.3 million to Sherry E. Carr, Paula Bowen, and Alicia Smith through the entity Alan Drezin, As Referee for the four-unit building (C3) at 283 Sterling Place in Prospect Heights, Brooklyn. The deal closed on February 2, 2023 and was recorded on February 9, 2023. The property has 3,271 square feet of built…
$9.5M Nolita ownership dispute: Plaintiff Lillian Trentacosta is the widow of the late Joseph Trentacosta. Joseph was a shareholder in the corporation 260 Mott Street Realty Corp., formed in 1961, that owns the nine-unit walkup-over-retail building estimated to be worth $9.5 million. Joseph died in May 2022 and Lillian claims she inherited the shares, but that the corporation is no longer sending distributions. She seeks…
