Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $7.6 million to Arie Friedheim through the entity 83 St Marks LLC for the three-family building (C0) at 83 Saint Marks Place in Park Slope, Brooklyn. The deal closed on January 19, 2023 and was recorded on January 25, 2023. The property has 2,700 square feet of built space and 1,300 square feet of additional…
Investment firm Providence Equity Partners through the entity Ultimate Buyer, LLC signed a 49-year lease as tenant with landlord Sherwood Equities through the entity Universal Branding Group LLC valued at $183.8 million for billboard signage covering and on top of 2 Times Square in Times Square, Manhattan. 2 Times Square is an iconic signage platform on the north end of Times Square with frontage on…
Yellowstone Real Estate Investments through the entity YS 541 Lexington Holdings LLC borrowed an undisclosed amount from Fortress Investment Group through the entity Fortress Credit Corp., secured by Yellowstone’s $170 million note, which is in turn secured by Capstone Equities 697-unit Maxwell Hotel at 541 Lexington Avenue, in Midtown East, Manhattan. The deal closed January 19, 2023, and was recorded on January 25, 2023. In…
$5.65M pre-foreclosure in Soho: A special servicer on behalf of CMBS bondholders filed a pre-foreclosure action on debt totaling $5.65 million, securd by Veracity Equities’ retail condo at 111 Mercer Street in Soho. Edmond Li’s Veracity Equities acquired the mixed-use building in January 2008 for $12.35 million. A total of $13.68 million of debt was obtained in 2011, and the building was converted to a…
Portabella owner Khaled Ashmawy, through the entity 58-66 East Fordham Owner LLC, paid $20.1 million to Midtown-based Roberts Equities through its 58-66 East Fordham LLC for the mixed-use building (K2) at 58-66 East Fordham in Fordham Heights, Bronx. The deal closed on January 11, 2023 and was recorded on January 25, 2023. The property has 17,712 square feet of built space and 10,764 square feet…
Joel Schwartz through the entity 63 4th Ave Brooklyn LLC as borrower signed a new construction loan with lender S3 Capital through the entity S3 Re Funding III LLC valued at $14.2 million for two mixed-use properties including the two-unit mixed-use building (K4) at 63 4th Avenue in Park Slope, Brooklyn and four-unit mixed-use building (S4) at 65 4th Avenue in Park Slope, Brooklyn. On…
Aurora Capital Associates and David Ellis through the entity 675 Hudson Street Owner LLC as borrower signed a initial loan with lender Israel Discount Bank valued at $35 million for the five-unit mixed-use building (K4) at 675 Hudson Street in West Village, Manhattan. The deal closed on January 13, 2023 and was recorded on January 24, 2023. The property has 29,300 square feet of built…
Daten Group through the entity Cad Waverly LLC as borrower signed a refi loan with lender H.I.G. Capital through the entity H.I.G. Realty Financing II, LLC valued at $46.9 million for the 135-unit building (E9) at 540 Waverly Avenue in Clinton Hill, Brooklyn. On the lot, there is one active new building construction project for a 135-unit, 96,095 square-foot R-2 building. The project was developed…
Indev Real Estate pays $8 million to Sugar Hill Capital Partners for two residential walkups in Prospect Lefferts Gardens and Fort Greene, Brooklyn, in two separate transactions. In the first, Indev Real Estate through the entity 42 Hawthorne LLC paid $4.2 million to Sugar Hill Capital Partners through the entity 42 Hawthorne Owner, LLC for the eight-unit residential walkup building (C1) at 42 Hawthorne Street…
The New York University School Of Law Foundation paid $5.2 million to Jonathan Shlafer and Samantha Roady for the two-family building (B1) at 453 Henry Street in Cobble Hill, Brooklyn. The deal closed on January 13, 2023 and was recorded on January 24, 2023. The property has 2,610 square feet of built space and 1,402 square feet of additional air rights for a total buildable…
Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $9.2 million to Highpoint Property Group through the entity 1436 Pacific Street Owner LLC for the 10-unit residential walkup building (C1) at 1440 Pacific Street in Crown Heights, Brooklyn. The deal closed on January 17, 2023 and was recorded on January 24, 2023. The property has 8,764 square feet of built space according to PincusCo…
Bram Auto Group through the entity 40-40 Northern LLC paid $17.4 million to Jong Chul Hong through the entity Jongsera Realty Corp for industrial building (E1) at 56-08 37th Avenue in Woodside, Queens. The deal closed on January 18, 2023 and was recorded on January 24, 2023. The property has 52,291 square feet of built space according to PincusCo analysis of city data. The sale…
David Paz, who owns Omnia Group, which partnered with Northwind Group to own the 200-room hotel at 225 Bowery, filed for bankruptcy protection for his entity 225 Bowery LLC. Nat Wasserstein is the chief restructuring officer who filed the petition. David Paz filed the petition following a $10.4 million arbitration judgment owed to the Ace Group. The hotel had previously been operated under the Sister…
Bishop Lamor Whitehead, the flashy minister who heads the Leaders of Tomorrow International Church in Canarsie, filed a petition to place a religious property an affiliate of his purchased in March 2022 for $1.9 million, into bankruptcy protection. He is in the midst of a dispute with the tenant of the property, located at 5904 Foster Avenue in East Flatbush. The tenant, a local church…
Joseph Silberman through the entity 661 Manida Street LLC as borrower signed a refi loan with lender Spencer Savings Bank valued at $12.3 million for the development building (V0) at 661 Manida Street in Hunts Point, Bronx. The new building is 56 units with 29,228 square feet. The deal closed on January 13, 2023 and was recorded on January 23, 2023. The prior lender was…
Tessler Developments through the entity 260 Park Avenue South, LLC as borrower signed a refi loan with lender Signature Bank valued at $15.5 million for four retail condominium units at 260 Park Avenue South in Flatiron District, Manhattan. The deal closed on January 10, 2023 and was recorded on January 23, 2023. The prior lender was Signature Bank which held debt that had an original…
Safdie Realty Group through the entity 1077 Teller LLC paid $2.6 million to David Freier through the entity Shutfis 1 LLC for eight-unit residential walkup building (C1) at 1077 Teller Avenue in Concourse Village, Bronx. The deal closed on January 13, 2023 and was recorded on January 23, 2023. The property has 7,360 square feet of built space and 4,046 square feet of additional air…
Haimo Zhong through the entity 182 JMC LLC paid $3.9 million to Gottesman family and Palma Marzigliano through the entity Gottesman Family Properties LLC for the industrial building (G1) at 182-30 Jamaica Avenue in Hollis, Queens. The deal closed on January 9, 2023 and was recorded on January 23, 2023. The property has 15,000 square feet of built space and 15,000 square feet of additional…
Avanath Capital Management through the entity Avanath 7 Dekalb, LLC acquired a $101.2 million ground lease from the Brodsky Organization through the entity 7 Dekalb Owners LLC for the 251-unit rental condo unit at 70 Fleet Street in Downtown Brooklyn, Brooklyn. The deal closed on January 11, 2023 and was recorded on January 23, 2023. The condo unit has 245,274 square feet of built space…
Roche sues Hochfelder, Merchant, for $35M: Robert Roche of Roche Enterprises is seeking $35 million from Adam Hochfelder, Richard Cohn, Abraham Merchant, Merchants Hospitality and Mailman Trust related to the hotel and retail project at 510 West 42nd Street, in Hell’s Kitchen, Manhattan. According to the filing, “Defendants fraudulently induced Plaintiffs to invest millions of dollars in a hotel development and retail project, located at…
