Charles Cohen, CEO of Cohen Brothers Realty, filed an appeal yesterday seeking to reverse in its entirety an October 3, 2024, decision in New York State Supreme Court that allowed lender Fortress Investment Group to collect on a $187 million guaranty that formed part of the security for a $533 million loan from Fortress. In addition, the ruling allowed a November 8, 2024, auction to…
UPDATED 1:30 p.m., October 16, 2024: A ground lease held by Charles Cohen’s Cohen Brothers Realty since 1997 that secured its interest in the 41-story, 397,354-square-foot office tower at 135 East 57th Street at the corner of Lexington Avenue, was terminated recently, with control reverting to the landlord, 700 Lexington LLC, controlled by William F. Wallace, trustee. A New York State Supreme Court justice ruled…
Casabe II Housing Development Fund Company through the entity Casabe Houses Associates LLC as borrower signed a refi loan with lender Merchants Capital through the entity Merchants Capital Corp. valued at $21.6 million for the 125-unit residential elevator building (D1) at 150 East 121st Street in East Harlem, Manhattan. The deal closed on October 8, 2024 and was recorded on October 11, 2024. The property…
Peter Fine, of Bolivar Development and Atlantic Development Group, through the entity 203 Street North LLC as borrower signed a refi loan with lender Customers Bank valued at $44 million for the school building (W1) at 263 East 203rd Street in Bedford Park, Bronx. On the lot, there was one new building construction project, X00629381, for an 87,140 square-foot E building. The project was filed…
Lonicera Partners through the entity Great Jobo LLC signed a lease as tenant with Anthony Marano through the entity Bowery Corner LLC as landlord for the parcel (G9) at 348 Bowery in NoHo, Manhattan, which has been used for several years as a small food court. The memorandum of lease was signed on October 8, 2024 and was recorded on October 11, 2024. The property…
Guang Li and Xianghuan Lin through the entity 5815 57rd LLC paid $4.5 million for the industrial building (F4) at 58-15 57th Road in Maspeth, Queens. The expected use is cash flowing. The deal closed on September 9, 2024 and was recorded on October 11, 2024. The property has 10,795 square feet of built space and 3,241 square feet of additional air rights for a…
Behrooz Hedvat through the entity 100 Partners LLC paid $5.6 million to Kenneth Moslin through the entity 100 Associates LLC for the 49-unit residential elevator building (D1) at 100 Fort Washington Avenue in Washington Heights, Manhattan. The expected use is cash flowing. The deal closed on October 1, 2024 and was recorded on October 11, 2024. The property has 65,388 square feet of built space…
Philadelphia-based Canon Hospitality Management through the entity CH Associates XII LLC paid $20 million to Tony Wang through the entity 823 39th Street Brooklyn LLC for the hotel building (H3) at 833 39th Street in Sunset Park, Brooklyn. The expected use is cash flowing. This is the first purchase Canon Hospitality Management, led by CEO Canon J. Patel, has made in New York City, according…
SJM Partners through the entity CS SJM E 92nd Street Owner, LLC as borrower signed a refi loan with lender Timbercreek Capital through the entity Tnam Us Seller Ii Lp valued at $15 million for the storage building (E7) at 428 East 92nd Street in Yorkville, Manhattan. The deal closed on September 27, 2024 and was recorded on October 10, 2024. The prior lender was…
Stephen L. Clark through the entity Knapp Storage Spe, LLC as borrower signed a refi loan with lender Equity Bank through the entity Equity Bank valued at $22 million for the storage building (E7) at 2727 Knapp Street in Sheepshead Bay, Brooklyn. The deal closed on September 30, 2024 and was recorded on October 10, 2024. The prior lender was FS Investments which held debt…
Camber Property Group through the entity Remeeder Houses Owner LLC as borrower signed a refi loan with lender Merchants Capital valued at $96.3 million for four properties with 260 residential units including the 195-unit residential elevator building (D3) at 579 Blake Avenue in East New York, Brooklyn, 65-unit retail building (K1) at 592 Sutter Avenue in East New York, Brooklyn, and property at 330 Sheffield…
SHVO and Deutsche Finance America through the entity Bsd 685 New York Propco LLC as borrower signed a refi loan with lender Northwind Group through the entity Nw 685 Fifth Senior Lender LLC valued at $100 million for 50 unsold residential condominium units at the 65-unit Mandarin Oriental condominium building at 685 Fifth Avenue in Midtown East, Manhattan. A Northwind press release said the total…
Jack Husney through the entity 1414 Avenue P Realty LLC paid $2.4 million to Solomon Grinberg through the entity 1414 Avenue P Associates, LLC for the five-unit office building (O8) at 1414 Avenue P in Sheepshead Bay, Brooklyn. The deal closed on September 27, 2024 and was recorded on October 10, 2024. The property has 4,300 square feet of built space and 1,080 square feet…
Chestnut Holdings of New York through the entity 3071 Bailey LLC paid $4.7 million to Herbert Freedman through the entity Bailey Avenue Holding LLC for the retail building (K1) at 3071 Bailey Avenue in Kingsbridge Heights, Bronx and retail building (K1) at 152 West 231st Street in Kingsbridge Heights, Bronx. The expected use is cash flowing. The deal closed on October 2, 2024 and was…
Firebird Grove through the entity 164 Ludlow, LLC paid $7.8 million to Ludlow Property Group through the entity Ddcm 164 Ludlow LLC for the 16-unit residential walkup building (C7) at 164 Ludlow Street in Lower East Side, Manhattan. The expected use is cash flowing. The deal closed on October 8, 2024 and was recorded on October 10, 2024. The property has 9,735 square feet of…
Thakkar Developers through the entity TD 135 West 50 LLC paid $8.5 million to UBS Realty Investors through the entity 135 West 50th Street Lessee LLC for the ground lease that controls the office building (O4) at 135 West 50th Street in Midtown West, Manhattan. The expected use is cash flowing. The fee is owned by Safehold Inc., and is not impacted by this transaction….
Nathan Obstfeld through the entity 442 Lorimer Ny LLC paid $12 million to Related Companies through the entity Nysandy14 Williamsburg 3 LLC for the 53-unit residential walkup building (C7) at 442 Lorimer Street in Williamsburg, Brooklyn. The expected use is cash flowing. The deal closed on October 2, 2024 and was recorded on October 10, 2024. The property has 48,000 square feet of built space…
Peak Capital Advisors through the entity 235 E 10th Owner LLC paid $12.5 million for the 40-unit residential walkup building (C1) at 235 East 10th Street in East Village, Manhattan. The expected use is cash flowing. The deal closed on September 27, 2024 and was recorded on October 10, 2024. The property has 16,987 square feet of built space and 1,782 square feet of additional…
Hiwin Group USA through the entity HW W 54th St LLC paid Joseph Moinian’s Moinian Group through the entity 236 West 54th Street LLC $10.5 million for 236 West 54th Street, a two-story retail building that has a total of 25,100 square feet of development potential, according to a PincusCo analysis of city data. The building is the tax lot to the east of 238-240…
Abraham Sanieoff signed a $26.5 million acquisition loan with Citizens Bank for three properties located in the West Village, Chelsea and Greenwich Village, in three separate transactions. The loan was for the purchase of these properties for $50.5 million from Page Management, which PincusCo reported on last week. In the first, Abraham Sanieoff through the entity 300 West 12th Street LLC as borrower signed an…
