HH Equities through the entity 80 Seventh Bk, LLC paid $3.6 million for the three-unit mixed-use building (S3) at 80 7th Avenue in Park Slope, Brooklyn. The expected use is cash flowing. The deal closed on October 31, 2024 and was recorded on November 12, 2024. The property has 6,400 square feet of built space according to a PincusCo analysis of city data. The sale…
Omri Bar-Mashiah’s Minerva Development through the entity 117 State LLC paid $5 million for the three-unit building (C0) at 117 State Street in the historic district of Brooklyn Heights, Brooklyn. The deal closed on October 29, 2024 and was recorded on November 12, 2024. The property has 4,168 square feet of built space and 2,158 square feet of additional air rights for a total buildable…
The not-for-profit ACMH through the entity ACMH Webster Avenue Apartments LLC paid $7 million to Bolivar Development through the entity 3041 Webster, LLC for the development building (V1) at 3041 Webster Avenue in Norwood, Bronx. The expected use is ground up development. On the lot, there is one active new building construction project, X08043433, for a 136-unit, 83,982 square-foot R-2 building. The project was submitted…
Ji Jiang Zheng through the entity BPX Pinnacle LLC paid $13.8 million to the Mavrides, Moyal, Packman & Sadkin registered entity 81-05 Prop Owner LLC for the 35 unsold residential and eight commercial condominium units at the property at 81-05 Queens Boulevard in Elmhurst, Queens. The deal closed on October 22, 2024 and was recorded on November 12, 2024. The 43 units have 54,417 square…
Wildflower Ltd. through the entity WF Industrial XI LLC signed a 99-year ground lease valued at $27 million with the Szabo family through the entity Edgewhitt LLC covering eight contiguous tax parcels including the industrial building (F4) at 913 Edgewater Road, industrial building (F4) at 900 Whittier Street, the industrial building (F9) at 880 Whittier Street, all in Hunts Point, Bronx. The expected use is…
The Mamrout family’s newly formed entity Sentry Realty, in partnership with 60 Guilders, through the entity 292 Madison Investor LLC paid $90.5 million to the Vanbarton Group through the entity 292 Madison NY LLC for the office building (O4) at 292 Madison Avenue in Grand Central, Manhattan. The expected use is cash flowing. Ouni Mamrout, also known as Alen Mamrout, who leads the fashion manufacturing and licensing…
Carlyle Group and Ofer Yardeni’s Stonehenge NYC through the entity 165 East 66th St Owner, L.L.C. paid $128 million to CIM Group through the entity 165 East 66th Street (Ny) Residential Owner, LLC for the 151-unit rental condominium unit and its garage at the Henley at 165 East 66th Street in Lenox Hill, Manhattan. The expected use is cash flowing. The deal closed on November…
Apollo Global Management through the entity 5TS Holdings, LLC acquired an interest from RXR Realty through the entity Rxr 5ts Senior Mezz I LLC valued at $360 million for a stake in the office building (O4) at 5 Times Square at 592 Seventh Avenue in Garment District, Manhattan. The Commercial Observer reported this month that Apollo converted a mezzanine position to equity, as part of…
LNR Partners, on behalf of a securitized trust, Series 2021-C12, filed a pre-foreclosure action against the owners of two Jackson Heights, Queens, walkups with a total of 58 units, at 33-54 83rd Street and 33-53 82nd Street, alleging payment defaults since early 2023. The property owners include HC Equities, Saliman Coy and Ginny Werner. The owners acquired the building in October 2021 for $17.1 million,…
A borrower affiliated with a large multifamily portfolio with two maturing loans totaling $9.875 million, alleges Rialto Capital Advisors, which is servicing the former Signature Bank loans for Blackstone Group, has imposed onerous conditions on loan extensions, contrary to the mortgage agreements. Case LINK Court filings represent the position of one party and are not necessarily accurate or complete. Rialto did not immediately respond to…
Oaktree Capital Management through the entity Senior 111 Wall Grand Avenue Partners LLC bought a note with an original principal of $230 million from PIMCO secured by InterVest Capital Partners’ office building (O4) at 111 Wall Street in Financial District, Manhattan. Oaktree already owned a $100 million mezzanine loan, and had scheduled a UCC auction for September 2023, according to reports at the time. The…
Stagg Group through the entity 4435 White Plains Road LLC as borrower signed a refi loan with lender Berkadia Commercial Mortgage through the entity Berkadia Commercial Mortgage LLC valued at $24.2 million for the 82-unit residential elevator building (D7) at 4435 White Plains Road in Wakefield, Bronx. The deal closed on October 1, 2024 and was recorded on November 8, 2024. The prior lender was…
Vilson Lumaj through the entity V. Gun Hill Tower LLC as borrower signed a new construction loan with lender NorthEast Community Bank valued at $25 million for the 99-unit project at 3556 Holland Avenue in Williamsbridge, Bronx. On the lot, there is one active new building construction project, X00895492, for a 99-unit, 70,237 square-foot R-2 building. The project was submitted by Vilson Lumaj and filed…
American Realty Advisors through the entity Hudson Bowery Connection LLC as borrower signed a refi loan with lender Bank of China valued at $210 million for two properties with 361 residential units including the 361-unit, 340,072-square-foot rental condo at 229 Chrystie Street and the 84,173-square-foot retail condo at 95 East Houston Street in Lower East Side, Manhattan. Both condo units are in the same building….
Stephen L. Green, the 86-year-old namesake to the large real estate investment trust SL Green Realty, sold a small retail condominium unit near Union Square for $4.5 million which be purchased just a few weeks shy of 40 years ago. Bernice Monaim, of the clothing store Richina Apparel through the entity 5 E16 RT LLC paid $4.5 million to Stephen L. Green through the entity…
Royal Waste Services through the entity Royal Brothers Bronx Realty LLC paid $7.8 million to Syh Kuern Chen through the entity Productive Realty NY, LLC for the industrial building (E1) at 187-62 Hollis Avenue in Hollis, Queens. The expected use is owner-occupied. Royal Waste Services owns the large adjacent 62,616-square-foot lot, 187-40 Hollis Avenue. This is the firm’s second purchase that closed in October. The…
Edward Shllaku through the entity 99-44 62nd Realty LLC paid $8 million to Kassin Sabbagh Realty through the entity 99-44 62 LLC for the 62-unit residential elevator building (D1) at 99-44 62nd Avenue in Rego Park, Queens. The expected use is cash flowing. KSR acquired the building in April from the Golyan family’s Golyan Enterprises through a bankruptcy auction, as the lender using a $5…
Lalezarian Properties through the entity 569 3rd Avenue LLC paid $10.4 million to the Mossanen Group through the entity East 37th Street LLC, to transfer air rights from the 48-unit residential building (D3) at 207 East 37th Street and the 34-unit residential building (D3) at 213 East 37th Street, to the three-parcel, mid-block development site at 569 Third Avenue, all in Murray Hill, Manhattan. On…
Sotheby’s through the entity 945 Madison Avenue, LLC paid $100 million to the Whitney Museum of American Art for the museum building (P7) at 945 Madison Avenue in Lenox Hill, Manhattan. The expected use is owner-occupied. The auction house plans to make the Marcel Breuer-designed Brutalist building into its global headquarters. The Whitney is now located in the Meatpacking District. The deal closed on November…
Blackstone Group file two pre-foreclosure actions last week, the larger for a $10.5 million loan secured by RFR Holding’s retail and garage units at 404 East 76th Street in Lenox Hill, and the other for a $7 million loan secured by a real estate investor’s Hell’s Kitchen rental buildings at 334 and 336 West 46th Street with a total of 12 residential units over retail….
