Hamilton Lane through the entity Hamilton Lane Va Re Sma, Lp acquired an interest from Avenue Realty Capital through the entity Arc II Avenue A Spv LLC valued at $19.8M for six-unit residential walkup building (C4) at 194 Avenue A in Alphabet City, Manhattan, three-unit mixed-use building (S3) at 196 Avenue A in Alphabet City, Manhattan, and three-unit mixed-use building (S3) at 503 East 12th…
Industrial and Commercial Bank of China (ICBC) alleges two loans, each for $35 million, secured by two Queens Mayflower Business Group hotels are in payment defaults, and the bank is seeking to foreclose on the loans. ICBC filed the pre-foreclosure action August 20, 2025 in New York State Supreme Court in Queens. The two properties are the 152-key 38-61 12th Street in Long Island City…
Rialto Capital Management as special servicer alleged in a pre-foreclosure action a maturity default in a loan with an outstanding principal of $132.7 million and secured by 115 Myrtle Avenue, formerly known as 15 MetroTech Center, in Brooklyn Commons in Downtown Brooklyn, owned by Brookfield Properties. Rialto filed the complaint August 21, 2025, in New York State Supreme Court in Brooklyn on behalf of Morgan…
Yitzchok Katz of Goose Property Management and Developing NY State, through the entity 39th Ave Holdings 1 LLC as borrower signed a refi loan with lender Berkadia Commercial Mortgage valued at $96.5 million for two residential elevator properties with 193 residential units including the 129-unit residential elevator building (D7) at 32-03 39th Avenue in Long Island City, Queens and 64-unit residential elevator building (D7) at…
UPDATED 5:25 a.m., August 25, 2025: Aryeh Realty through the entity 144 East 74th Street LLC paid $5 million to the entity 44 Country Associates Ltd for the two-unit mixed-use building (K4) at 146 East 74th Street in Lenox Hill, Manhattan. The expected use is cash flowing. The deal closed on August 18, 2025 and was recorded on August 20, 2025. The property has 3,764…
Mehra Properties through the entity Steinway Mehra LLC paid $7.5 million to BLS Company through the entity BLS Holdings, Inc. for the industrial building (G1) at 18-20 Steinway Street in Ditmars Steinway, Queens. The deal closed on August 15, 2025 and was recorded on August 20, 2025. The property has 20,000 square feet of built space for a total buildable of 20,002 square feet according…
UPDATED 12:29 p.m., August 21, 2025: Jadian Capital through the entity 651 Fountain LLC paid $10.8 million to the entity HJC Holding Corp. for 14 tax lots that make up the entire triangle-shaped tax lot, including the industrial buildings (G9) at 333 Euclid Avenue, 665 Fountain Avenue and 432 Euclid Avenue in East New York, Brooklyn. The expected use is parking and logistics. The deal…
Lincoln Property Company and Cross Ocean Partners through the entity 470 Holdings LLC paid $69.6 million to RXR Realty through the entity Vanderbilt Associates Owner Lp for the ground lease controlling the office building (O6) at 470 487 Clermont Avenue in Fort Greene, Brooklyn. The expected use is cash flowing. The deal closed on August 8, 2025 and was recorded on August 20, 2025. The…
Naftali Group through the entity 800 Fifth Ave Property Owner LLC paid $810 million to Spitzer Enterprises and Winter Properties through the entity 800 Fifth Avenue Associates LLC for the 208-unit residential elevator building (D8) at 800 5th Avenue in Lenox Hill, Manhattan. The expected use is ground up development. The New York Post and others have reported that the building will be demolished and…
7G Group through the entity 7G 123 Lafayette Partners LLC paid $21.8 million through a deed-in-lieu of foreclosure the office building (O5) at 123 Lafayette Street in Little Italy, Manhattan. The former loan had an original principal of $14.9 million but had a judgment of $21.76 million, according to the most recent notice of sale. The expected use is cash flowing. The former owner was…
United Construction & Development Group through the entity L Island City LLC as borrower signed a refi loan with lender iCross Capital through the entity Elite 22 LLC valued at $40 million for the development parcel (V1) at 42-50 24th Street in Long Island City, Queens. On the lot, there is a new building construction project, Q01263805, for a 387-unit, 268,204 square-foot residential (R-2) building…
Capstone Equities through the entity 141 Willoughby Fee Owner LLC as borrower signed a acquisition loan with lender Corebridge Financial through the entity Corebridge Institutional Investments (U.S.), LLC valued at $70 million for two properties including the office building (O4) at 141 Willoughby Street in Downtown Brooklyn, Brooklyn. Capstone and BH3 Management acquired the building on July 22, 2025, in a transaction the city valued…
Urban Resource Institute through the entity 487 West 129th Street Transitional Housing as borrower signed a new construction loan with lender Build NYC Resource Corporation through the entity The Bank Of New York Mellon valued at $74.3 million for the 92-unit project at 478 West 130th Street in Harlem, Manhattan. On the lot, there is one active new building construction project, M01099089, for a 92-unit,…
TF Cornerstone through the entity Ashland Umbrella LLC as tenant signed a contract to ground lease land owned by the Brooklyn Hospital Center including portions of the hospital complex at 117 DeKalb Avenue in Fort Greene, the industrial building (G1) at 147 Ashland Place in Fort Greene, and across Ashland Place, the parking lot (G6) at 161 Ashland Place in Downtown Brooklyn. The expected use…
Solomon Park through the entity SP Graham Properties LLC paid $4.2 million to Suk Jae Park through the entity DSP 359 Graham Avenue LLC for the four-unit mixed-use building (S4) at 359 Graham Avenue in Williamsburg, Brooklyn. The expected use is cash flowing. The deal closed on July 18, 2025 and was recorded on August 19, 2025. The property has 4,500 square feet of built…
The Cobb family through the entity Hohokam LLC paid $4.9 million for the four-unit building (C3) at 241 Union Street in Carroll Gardens, Brooklyn. The expected use is cash flowing. The deal closed on July 29, 2025 and was recorded on August 19, 2025. The property has 3,449 square feet of built space and 1,146 square feet of additional air rights for a total buildable…
Yuco Management through the entity 567 Partners, LLC paid $7.3 million to First Atlantic Capital through the entity West 125 LLC for the 22-unit residential walkup building (C7) at 567 West 125th Street in Harlem, Manhattan. The expected use is cash flowing. The deal closed on August 4, 2025 and was recorded on August 19, 2025. The property has 21,768 square feet of built space…
RAGHSA Real Estate through the entity Property 512 West 22 LLC paid $205 million to Vornado Realty Trust through the entity 510 West 22nd Street Owner, LLC for the the office condominium units and the retail condo unit that make up the entire building at 510 West 22nd Street in Chelsea, Manhattan. The expected use is cash flowing. The deal closed on August 14, 2025…
A&E Real Estate Holdings refinanced three loans secured by three Queens rental buildings that had an original combined debt of $162.3 million, reducing the new debt to $40.4 million. A&E Real Estate Holdings obtained the financing in three new loans from Customers Bank. Deutsche Bank originated the loans in 2018 and sold them to Lone Star Funds for an undisclosed amount in November 2024, as…
Mordechai Herzog through the entity 1200 Franklin Ave LLC as borrower signed a new construction loan with lender BX Capital through the entity Broad X Funding II LLC valued at $6 million for the 25-unit project at 1200 Franklin Avenue in Morrisania, Bronx. On the lot, there is one active new building construction project, X01208579, for a 25-unit, 17,829 square-foot residential (R-2) building. The project…
