UPDATED: $22M pre-foreclosure filed against 62 Madison Avenue: LNR Partners, the special servicer for a $22 million loan provided to the property owner Mave Hotel Investors LLC secured by the 24,608-square-foot, 11-story corner property, filed to foreclose last week in New York State Supreme Court. LNR alleges the loan was declared in default earlier this year, and a notice that the entire loan was due…
REDA Holdings paid $19.3 million to Solomon Builders for two rental buildings in two separate transactions, one in Greenwich Village and another in Bedford-Stuyvesant. In the larger, REDA Holdings through the entity Reda 10 Fifth LLC paid $15 million to Solomon Builders through the entity Benchmark 10 L.P. for the 14-unit rental (C7) at 10 Fifth Avenue in Greenwich Village, Manhattan. The deal closed on…
Jamestown CEO Matt Bronfman was the signatory in the $16.1 million purchase of two adjacent, mixed-use buildings in the West Village with a total of nine residential units at 801 and 803 Greenwich Street, in two separate transactions. It was unclear if Matt Bronfman was purchasing this as a personal investment or signed on behalf of others. Jamestown said in a statement: “We advised a…
Van D. Fox through the entity 351 West 47th Street LLC paid $4.1 million to Owen Wincig through the entity 47-351 Operating Corp. for 10-unit rental (C4) at 351 West 47th Street in Hell’s Kitchen, Manhattan. The deal closed on October 28, 2021 and was recorded on December 23, 2021. The property has 8,165 square feet of built space and 4,149 square feet of additional…
Fortis Property Group through the entity Fortis Dumbo Acquisition, LLC as borrower signed a condo construction loan refinance with lender G4 Capital Partners through the entity G4 18217, LLC valued at $254.8 million for the 76-unit project at 30 Front Street in Dumbo, Brooklyn. Simultaneously with the loan, G4 Capital Partners borrowed $207.5 million from Madison Realty Capital through the form of a participation loan….
The Ginsberg family’s Algin Management Company through the entity Roseland Development Associates, LLC as borrower signed an initial loan with lender New York Life Insurance Company valued at $145.6 million for the 426-unit rental (D8) at 242 West 53rd Street in Midtown West, Manhattan. The deal closed on December 2, 2021 and was recorded on December 23, 2021. The property has 542,276 square feet of…
The Jay Group through the entity 101 Fleet Holding LLC as borrower signed a new construction loan with lender G4 Capital Partners through the entity G4 18224, LLC valued at $100.8 million for the industrial (W9) at 101 Fleet Place in Downtown Brooklyn, Brooklyn. The Commercial Observer reported the total loan would be $130 million for a multifamily development in an article earlier this month,…
Belvedere Capital through the entity 1-10 Bush Terminal Owner Lp as borrower signed new debt with lender Blackstone Mortgage Trust through the entity Bxmt 2020-Fl2, Ltd valued at $77.4 million for 12 properties at Industry City including the industrial (E1) at 4002 2nd Avenue in Sunset Park, Brooklyn, industrial (E1) at 892 Third Avenue in Greenwood Heights, Brooklyn, and industrial (E9) at 607 2nd Avenue…
SKF Development through the entity 1760 Boone Development LLC as borrower signed a new construction loan with lender Valley National Bank valued at $15.2 million for the development site (V1) at 1760 Boone Avenue in East Morrisania, Bronx. The deal closed on December 9, 2021 and was recorded on December 23, 2021. The loan was signed by an attorney, but previous property records have Ayush…
Cammeby’s International Group signed a $33.85 million refinance with NewPoint Real Estate Capital for rental buildings in Queens and Brooklyn in two separate transactions. Prior to this, Cammeby’s has refinanced $575 million with NewPoint this year. In the first, Cammeby’s International Group through the entity Green Park Essex Apartments Del LLC as borrower signed a refi loan with lender Newpoint Real Estate Capital LLC valued…
SJL Trust paid $16 million to James W. Guedry and interior designer Frank Slesinski for the three-unit building (C0) at 79 Charles Street in West Village, Manhattan. The deal closed on October 29, 2021 and was recorded on December 23, 2021. The property has 3,740 square feet of built space and 874 square feet of additional air rights for a total buildable of 4,617 square…
JMart through the entity 24926 Property LLC paid $30 million to Colin Development through the entity Cces Little Neck Realty LLC for mixed-use building (K2) at 249-26 Northern Boulevard in Little Neck, Queens. The deal closed on December 14, 2021 and was recorded on December 22, 2021. The property has 36,400 square feet of built space and 10,310 square feet of additional air rights for…
An owner of a 25 percent tenant-in-common stake in the landmark Flatiron Building at 175 Fifth Avenue, Nathan R. Silverstein, filed a lawsuit yesterday alleging poor leasing strategies by GFP Real Estate and Newmark & Company. This suit comes five months after the the Gural family’s GFP, Sorgente Group and ABS Partners Real Estate, together representing 75 percent of the ownership interests, filed a petition…
Prologis through the entity Pe 280 Johnson Avenue, LLC, A Delaware Ltd Liab Co paid $27.5 million to Babureddy Mareddy through the entity Greenpoint Project, LLC, A NY LLC for the warehouse (E9) for redevelopment at 280 Johnson Avenue in East Williamsburg, Brooklyn. The deal closed on December 7, 2021 and was recorded on December 22, 2021. The property has 31,450 square feet of built…
NYC Top Construction as tenant through the entity 731 Flushing Ave Realty LLC acquired a ground lease valued at $20 million from Bernard Ettinger as landlord through the entity 731 Flushing Avenue Associates, LLC for the office building (O2) at 731 Flushing Avenue in Williamsburg, Brooklyn. The deal closed on November 30, 2021 and was recorded on December 22, 2021. The property has 73,210 square…
RWN Management through the entity 147-149 Grand Street Owner LLC paid $16.1 million to Empire Capital Holdings through the entity Empire Grand LLC for six-unit mixed-use building (S9) at 147 Grand Street in Little Italy, Manhattan. The deal closed on December 9, 2021 and was recorded on December 22, 2021. The property has 9,350 square feet of built space and 5,040 square feet of additional…
The entity MZ Rector 1800 Owner LLC paid $15 million to Philips International through the entity 40 Rector Owner LLC for office condo (CC) unit 1800 at 30 Rector Street in Financial District, Manhattan. The deal closed on November 23, 2021 and was recorded on December 22, 2021. The property has 34,904 square feet of built space according to PincusCo analysis of city data. The…
Rami Segal through the entity 899 Whittier LLC paid $6.2 million to Doreen Dent through the entity D & R Dent LLC for industrial (G2) at 899 Whittier Street in Hunts Point, Bronx. The deal closed on December 13, 2021 and was recorded on December 22, 2021. The property has 15,000 square feet of built space and 5,000 square feet of additional air rights for…
Marc Jacobowitz and Yerachmeal Jacobson through the entity 1704 Ocean Avenue LLC as borrower signed a refi loan with lender Cross River Bank valued at $27.5 million for the 64-unit rental (D3) at 1704 Ocean Avenue in Midwood, Brooklyn. The deal closed on November 16, 2021 and was recorded on December 22, 2021. The property has 59,840 square feet of built space according to PincusCo…
Ben Hur Investments through the entity Hg Bronx LLC as borrower signed a refi loan with lender Metropolitan Commercial Bank valued at $20 million for the mixed-use building (K2) at 1045 Southern Boulevard in Longwood, Bronx. The deal closed on December 9, 2021 and was recorded on December 22, 2021. The property has 49,984 square feet of built space and 73,914 square feet of additional…
