UPDATED: Maninder Sethi and Kavneet Sethi through the entity 25-16 LIC LLC acquired a 39-unit development site valued at $14.1 million at 25-16 37th Avenue in Long Island City, Queens, out of bankruptcy. The prior developer sought to build a 38-unit condominium building with a $39 million sellout. The lender Bankwell Bank provided the new owners a $22 million construction loan. The seller was 25-16…
Maddd Equities and Joy Construction through the entity Sherman Creek Owner LLC as borrower signed a new construction loan with lender NYC Housing Development Corporation valued at $302.7 million for the 611-unit project at 375 West 207th Street in Inwood, Manhattan. On the lot, there is one active new building construction project for a 611-unit, 543,636 square-foot R-2 building. The project was developed by Jorge…
Andrew Eckstein through the entity Greenpoint Meserole Holdings LLC paid $3.2 million to Sophia Crown through the entity Kukubird LLC for the five-unit mixed-use building (S5) at 169 Irving Avenue in Bushwick, Brooklyn. The deal closed on January 4, 2023 and was recorded on February 8, 2023. The property has 5,400 square feet of built space and 432 square feet of additional air rights for…
Jorge Madruga’s Maddd Equities as a tenant through the entity 200 East Tremont JV LLC signed a 99-year ground lease valued at $4 million with landlords Fatin Salhut and Mohammad Salhut through the entity M.I.H.S. LLC for a development site at 200 East Tremont Avenue in Mt Hope, the Bronx. There are no new building plans yet filed for the parcel, according to a PincusCo…
Amy Kit-Ming Mak through the entity Fortune 23 Realty LLC paid $7.3 million to Stuart Schneiderman and Seymour Schneiderman through the entity 134-21 Northern Boulevard Corp. for the retail building (K2) at 134-19 Northern Boulevard in Flushing, Queens. The deal closed on January 31, 2023 and was recorded on February 8, 2023. The property has 15,260 square feet of built space and 2,085 square feet…
The London-based Cognita Schools through the entity Cognita Us Propco LLC paid $50 million to York Prep through the entity York Prep Realty LLC for the school building (W3) at 40 West 68th Street in Lincoln Square, Manhattan. Cognita, according to its website, often partners with schools around the world which maintain their own name and identity. The deal closed on February 6, 2023 and…
Gabriel Khezrie and Ezra Erani through the entity 149 Madison SPE LLC paid $77 million to Columbia Property Trust through the entity Columbia Reit- 149 Madison, LLC for the office building (O6) at 149 Madison Avenue in Park Avenue South, Manhattan. The deal closed on February 6, 2023 and was recorded on February 8, 2023.The property has 119,006 square feet of built space according to…
Hilton Resorts through the entity Hilton Resorts Corporation paid $135.6 million to 54 Madison Partners through the entity 1248 Associates LLC for two hotel condominium units at the hotel The Central at 5th New York at 12 East 48th Street in Midtown East, Manhattan. The deal closed on January 31, 2023 and was recorded on February 8, 2023. The sale is for portions of tax…
A special servicer filed a $25 million pre-foreclosure action against the owner of a Staten Island office building developed by the late George Kaye, a well-known candy manufacturer. In another filing, Maverick Real Estate Partners filed a $5 million pre-foreclosure action, related to the remaining debt from a larger loan originated in 2020 and secured by mixed-use buildings in Flushing, Queens. $25M pre-foreclosure filed, loan…
Moshe Greenzweig’s Cedarbridge Management through the entity 376 Tyhum LLC (and others) as borrower signed an acquisition loan with lender Signature Bank valued at $10.8 million for four recently acquired properties including the 42-unit residential elevator building (D1) at 638 West 160th Street in Washington Heights, Manhattan, 35-unit residential elevator building (D1) at 617 West 143rd Street in Harlem, Manhattan, and 18-unit residential walkup building…
EcoRise Development through the entity Dominic Schindler Bleecker RE LLC as borrower signed a refi loan with lender Santander Bank valued at $19.2 million for the 18-unit residential elevator building (D7) at 159-161 Bleecker Street in Greenwich Village, Manhattan. The deal closed on January 31, 2023 and was recorded on February 7, 2023. The prior lender was Santander Bank which held debt that had an…
Houjian Xu and Yangling Ni through the entity Jian Feng Realty Group LLC paid $3 million to Ke Zhong Wang through the entity 13246 Realty LLC for the four-unit mixed-use building (S4) at 132-46 41st Avenue in Flushing, Queens. The deal closed on January 27, 2023 and was recorded on February 7, 2023.The property has 4,900 square feet of built space and 123 square feet…
Jacob Berger through the entity Lafayette Ave Equities LLC paid $5 million to Eric Moran and Rick Gropper through the entity 729 Lafayette Mgm LLC for the 17-unit residential walkup building (C1) at 729 Lafayette Avenue in Bedford Stuyvesant, Brooklyn. The deal closed on December 30, 2022 and was recorded on February 7, 2023. The property has 17,600 square feet of built space according to…
Samuel Strauss through the entity SWGC, LLC paid $2.1 million to the Daniel Group through the entity Lenox NY LLC for the nine-unit residential walkup building (C4) at 117 West 111th Street in Harlem, Manhattan. The deal closed on February 2, 2023 and was recorded on February 7, 2023. The property has 4,335 square feet of built space and 878 square feet of additional air…
Bradford Mott through the entity 41-04 & 41-08 159th Street LLC paid $6.4 million to Luciano Sbuttoni through the entity Renato Realty LLC for the 32-unit residential walkup building (C1) at 41-04 159th Street in Murray Hill (QN), Queens. The deal closed on January 24, 2023 and was recorded on February 7, 2023. The property has 22,400 square feet of built space according to PincusCo…
Mordechia Mittelman through the entity Arthur Englewood LLC paid $8.5 million to North American Foreign Trading Corp. through the entity North American Foreign Trading Corp. for the development sites (V1) at 4400 Arthur Kill Road and along Englewood Avenue in Charleston, Staten Island. The deal closed on January 19, 2023 and was recorded on February 7, 2023. The two properties have zero square feet of…
Concern for Independent Living through the entity Concern Inwood Housing Development Fund Corp. paid $12.7 million to Dragos Adrian Firescu through the entity Jerome Jsd Holdings, LLC for industrial building (F4) at 21 East Clarke Place in Mt Eden, Bronx. The deal closed on January 25, 2023 and was recorded on February 7, 2023. The property has 21,500 square feet of built space and 108,150…
SL Green Realty, Black Spruce Management and Google were the top commercial real estate buyers in New York City in 2022, by dollar amount. Ranking by the number of deals closed, the top three were Carlyle Group, A&E Real Estate Holdings and Chestnut Holdings. The ranking is based on PincusCo Media data. Some of the firms ranked are among the largest real estate companies in…
Sioni Capital files $16M pre-foreclosure in Flushing: Ray Yadidi of Sioni Capital sent an acceleration notice to the borrower, claiming $16.1 million was due on the loan with an original principal of $12.975 million, secured by 34-20 Linden Place in Flushing, Queens. According to the filing, “As of [this] date, the total amount due the Plaintiff from Defendant Linden through and including January 3, 2023…
Pan Am Equities through the entity 80 Madison Avenue, LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $8.8 million for the 56-unit residential rental building (D6) at 80 Madison Avenue in NoMad, Manhattan. The deal closed on January 31, 2023 and was recorded on February 6, 2023. The prior lender was JPMorgan Chase which held debt that had an original…
