Moaath Y. Alsayedi through the entity 555 Driggs Ave LLC paid $5 million to Charles Leone, Pasquale Leone, and Vincent Leone Jr. through the entity 210 North 7th, LLC for the two-unit mixed-use building (S9) at 555 Driggs Avenue in Williamsburg, Brooklyn. The deal closed on January 31, 2023 and was recorded on February 2, 2023. The property has 3,494 square feet of built space…
Cedarbridge Management through the entity 617 Tyhum LLC paid $6.1 million to Sugar Hill Capital Partners through the entity 617 West 143rd Owner, LLC for the 35-unit residential elevator building (D1) at 617 West 143rd Street in Harlem, Manhattan. The deal closed on January 31, 2023 and was recorded on February 2, 2023.The property has 33,190 square feet of built space and 11,925 square feet…
Behrooz Hedvat through the entity Devarim 26 LLC paid $6.3 million to Forum Capital Partners through the entity 703 West 171 Street Condominium LLC for 11-unit residential elevator building (D7) at 703 West 171st Street in Washington Heights, Manhattan. The deal closed on January 26, 2023 and was recorded on February 2, 2023. The property has 17,550 square feet of built space according to PincusCo…
Kissling Interests through the entity Romeo-Kilo Corp. paid $7 million to Daniel J. Lunney through the entity 421 9th Avenue Corp. for retail building (K2) at 421 Ninth Avenue in Hudson Yards, Manhattan. The deal closed on January 9, 2023 and was recorded on February 2, 2023. The property has 2,962 square feet of built space and 12,845 square feet of additional air rights for…
MetLife paid $68.1 million to Clarion Partners for two rental buildings in Williamsburg in two separate transactions. In the larger, MetLife through the entity Comref Williamsburg Lofts LLC paid $40.3 million to Clarion Partners through the entity Clpf – 44 Berry, L.P. for the 42-unit rental condo at 44 Berry Street in Williamsburg, Brooklyn and the retail condo at 44 Berry Street in Williamsburg, Brooklyn….
New York City commercial real estate lending fell last month to $5.3 billion, down 34 percent from the trailing 12-month average of $8.8 billion. But the total was much lower if new construction loans were excluded. Last month lenders provided several large construction loans to TF Cornerstone, KIPP NYC and others. The total amount of non-construction debt recorded in January was only $3.3 billion. Much…
Abramson Brothers through the entity 501 Fifth Avenue Company LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $17.5 million for the office building (O4) at 501 Fifth Avenue in Grand Central, Manhattan. The deal closed on January 31, 2023 and was recorded on February 1, 2023. The prior lender was Wells Fargo which held debt that had an original loan…
David Bawabeh and Morris Bawabeh through the entity Jsb Realty No. 2 LLC as borrower signed a refi loan with lender Signature Bank valued at $80.8 million for three retail properties including the mixed-use building (K4) at 78-04 South Conduit Avenue in Ozone Park, Queens, retail building (K2) at 135-25 79th Street in Ozone Park, Queens, and retail building (K1) at 133-35 79th Street in…
Blackstone Group through the entity Breit Canarsie Owner LLC as borrower signed a refi loan with lender New York Life Insurance Company valued at $96.6 million for seven properties including the mixed-use building (K8) at 8719 Avenue D in Canarsie, Brooklyn, retail building (K6) at 8725 Foster Avenue in Canarsie, Brooklyn, and retail building (K6) at 856 Remsen Avenue in East Flatbush, Brooklyn. The deal…
The entity 376 Tyhum LLC paid $1.2 million to Sugar Hill Capital Partners through the entity 376 West 127th Owner, LLC for the 10-unit residential walkup building (C1) at 376 West 127th Street in Harlem, Manhattan. The deal closed on January 31, 2023 and was recorded on February 1, 2023. The property has 8,735 square feet of built space according to PincusCo analysis of city…
Long Zhen Wei through the entity 1336 Bayridge Realty LLC paid $1.6 million to Themistokles P. Bournias through the entity Btp 32 Management LLC for six-unit residential walkup building (C2) at 100-09 32nd Avenue in East Elmhurst, Queens. The deal closed on January 19, 2023 and was recorded on February 1, 2023. The property has 4,725 square feet of built space according to PincusCo analysis…
Meeiling Lu through the entity Wnyrt LLC paid $3.9 million to Peter Zuccarello through the entity P.A.Z. Realty, L.L.C. for the 10-unit residential walkup building (C7) at 33-26 Union Street in Flushing, Queens. This is Meeiling Lu’s second purchase since October 2022. The deal closed on January 19, 2023 and was recorded on February 1, 2023. The property has 9,044 square feet of built space…
Seller seeks to terminate $8M Greenpoint sale to CW Realty Group: The plaintiff and would-be seller, Kwong C. Chiu seeks to terminate a contract to sell a five-parcel, corner development site at 508-522 Graham Avenue in Greenpoint, Brooklyn for $8 million, to affiliates of CW Realty Group, according to a PincusCo analysis of the court filing. Cheskie Weisz’s CW Realty Group filed plans in January…
Lily Guo’s iCross Capital through the entity iCross 6 LLC bought a note with an original principal of $23 million from Bank of China secured by United Construction & Development Group’s industrial building (E1) at 42-61 24th Street in Long Island City, Queens. The deal closed on January 26, 2023 and was recorded on January 31, 2023. The prior lender was Bank of China which…
Steven Berger through the entity 7920 Realty LLC as borrower signed a refi loan with lender Flagstar Bank valued at $20.5 million for the Elm Community Charter School at 79-20 Queens Boulevard in Elmhurst, Queens. On the lot, there was one new building construction project for a 40,066 square-foot school (E) building. The project was developed by David Levitan with plans filed November 22, 2019…
Joy Construction and MADDD Equities through the entity YYY Atlas 48 LLC as borrower signed a refi loan with lender Valley National Bank valued at $50 million for the 203-unit hotel building (H2) at 305 West 48th Street in Hell’s Kitchen, Manhattan. The deal closed on January 19, 2023 and was recorded on January 31, 2023. The prior lender was Valley National Bank which held…
Xu Sheng Wang through the entity A&S Vernon Realty LLC paid $2.6 million to Samuel F. Colin through the entity 2011 CF Vernon LLC for mixed-use building (S1) at 47-29 Vernon Boulevard in Long Island City, Queens. The deal closed on January 18, 2023 and was recorded on January 31, 2023. The property has 2,300 square feet of built space and 5,200 square feet of…
Brandon Miller’s Real Estate Equities Corporation which had partnered with distress investor Mavik Capital Management on the Harlem property 313 West 125th Street, lost the asset that had debts of $14.6 million in a foreclosure last week. Mark Tress, a Lakewood, New Jersey investor who owns Cedar Health Group, was the buyer. He also operates under the New Jersey entity Cedar Holdings LLC. The seller…
Frank Reina through the entity F&J Realty Group LLC paid $6.5 million to Freida Hocevar estate for the 34-unit residential walkup building (C7) at 65-22 Fresh Pond Road in Ridgewood, Queens. The deal closed on January 30, 2023 and was recorded on January 31, 2023. The property has 29,880 square feet of built space according to PincusCo analysis of city data. The sale price per…
Kenneth Griffin’s Citadel through the entity Citadel Enterprise Americas LLC signed a 10-year lease valued at $262.6 million with Vornado Realty Trust through the entity 350 Park EAT LLC for the office building (O4) at 350 Park Avenue in Midtown East, Manhattan. This is the first stage in a complex process that could lead to the development of a new 1.7 million square foot office…
