Transfers

Flagstar Bank filed an $11.8 million pre-foreclosure filing on October 3, 2024, alleging payment defaults for the loan that is secured by 820 West 181st Street in Washington Height, Manhattan. The bank filed the action in State Supreme Court in Manhattan. The borrower is an affiliate of the Edelstein family’s Edel Family Management. Case LINK Court filings represent the position of one party and are…

One-time hotel owner Shepard Morgan through the entity St. Claire Builders & Contractors, Ltd. as borrower signed a renovation construction loan with lender Low Income Investment Fund valued at $8 million to develop a women’s shelter at the former hotel building (H3) at 27 West 11th Street in Greenwich Village, Manhattan. This is a renovation and change in use of the Larchmont Hotel, a former…

Steven Wu through the entity 366 SW Realty Inc. paid $5.5 million to the estates of Bo Wing Tsao and Hor Suey Yee Tsao for the two-unit mixed-use building (S2) at 5713 8th Avenue in Sunset Park, Brooklyn. The expected use is cash flowing. The deal closed on September 13, 2024 and was recorded on October 4, 2024. The property has 3,135 square feet of…

Woodworker and tax partner at the law firm Cravath, Swaine & Moore, Ron Creamer, paid $5.8 million to the company Neo-Bauhaus Design Factory for the landmarked Montauk Paint Manufacturing Company Building (F5), at 170 Second Avenue in Gowanus, Brooklyn. The deal closed on September 25, 2024 and was recorded on October 4, 2024. The property has 13,968 square feet of built space according to a…

The bondholders of the CMBS trust Series 2020-SB80 by special servicer CWCapital Asset Management through the entity 300 West 114th Street Holdings, LLC acquired through a judicial foreclosure from former owner Sugar Hill Capital Partners the nine-unit residential walkup building (C7) at 300 West 114th Street in Harlem, Manhattan and nine-unit residential walkup building (C7) at 2107 8th Avenue in Harlem, Manhattan. The expected use…

Steven B. Elghanayan’s EPIC LLC through the entity Epic W12 LLC as borrower signed a refi loan with lender TD Bank valued at $53 million for the retail building (O5) at 410 West 13th Street in Meatpacking District, Manhattan. The deal closed on September 27, 2024 and was recorded on October 3, 2024. The prior lender was TD Bank which held debt that had an…

Simone Development Companies through the entity Hutch Tower Two Owner LLC as borrower signed a refi loan with lender Union Labor Life Insurance Company valued at $85 million for the office condo at 1250 Waters Place in Pelham Bay, Bronx. The deal closed on September 27, 2024 and was recorded on October 3, 2024. The prior lender was Series 2014-C24 which held debt that had…

The entity 271 Canal LLC, which has an office at the same location as the Eshagh Moezinia Family Trust, paid $6.5 million to Bruce Fung through the entity Lay Fung Realty Corp. for the mixed-use building (K4) at 271 Canal Street in Little Italy, Manhattan. The expected use is cash flowing. The deal closed on October 2, 2024 and was recorded on October 3, 2024….

Peak Capital Advisors through the entity 212 8th Owner LLC paid $7.1 million to Corey Sherman through the entity Ens/21 LLC for the 17-unit residential walkup building (C7) at 212 8th Avenue in Chelsea, Manhattan. The expected use is cash flowing. Peak Capital Advisors is one of the most active buyers in the city. The deal closed on September 27, 2024 and was recorded on…

UPDATED 3:40 p.m., October 7, 2024:  The entity Bushwick Management Group, LLC paid $8.6 million to Bushwick Economic Development Corporation for the 62-unit specialty building (N2) at 629 Chauncey Street in Bushwick, Brooklyn. The deal closed on September 16, 2024 and was recorded on October 3, 2024. The property has 24,622 square feet of built space and 5,750 square feet of additional air rights for…

Bixby Bridge Capital through the entity Broome Lender LLC acquired title through a judicial foreclosure from former owners Arash Rahmani, Ebrahim Khalili, Omid Rahmani, Shawn Khodadadian, and Rabin Rahmani of the retail condo at 430 Broome Street in Little Italy, Manhattan. The expected use is cash flowing. The former loan was $8.1 million and the transfer value was $10.5 million. The deal closed on September…

UPDATED: A local investor through the entity Booth 6560 LLC paid $11.2 million to Robert Miller through the entity 65-60 Realty Co., LLC for the 65-unit residential elevator building (D1) at 65-60 Booth Street in Rego Park, Queens. The expected use is cash flowing. The deal closed on September 26, 2024 and was recorded on October 3, 2024. The property has 64,932 square feet of…

The entity 7 West 18th LLC by the signature of Oren Barak in care of Tarsat Prop LLC, paid $22.75 million to ASB Capital Management through the entity West 18th Street Venture, LLC for the office building (O6) at 7 West 18th Street in Flatiron District, Manhattan. The deal closed on September 30, 2024 and was recorded on October 3, 2024. The property has 43,307…

Abraham Sanieoff paid $50.5 million to Page Management for three Manhattan rental properties, 300 West 12th Street in the West Village, 240 West 15th Street in Chelsea, and 5 Jones Street in Greenwich Village. The Real Estate Alert previously reported on the transaction but only identified the buyer as Sani Group and did not identify the individual Abraham Sanieoff, who owns a modest portfolio of…

Ken Huang through the entity 32 New Venture Holding LLC bought a note with an original principal of $23 million from Cathay Bank secured by an 89-unit residential condominium project (D6) at 37-19 32nd Street in Long Island City, Queens. The deal closed on September 27, 2024 and was recorded on October 2, 2024. The property has 97,106 square feet of built space according to…

Lakhi Zoria through the entity 218 Hempstead Turnpike LLC paid $4.8 million to Baruch Frankel through the entity Queens Village Management Corp. for the retail building (K1) at 218-25 Hempstead Avenue and an adjacent parking lot, in Queens Village, Queens. The expected use is cash flowing. The deal closed on September 18, 2024 and was recorded on October 2, 2024. The property, which is divided…

Shan An Zhao through the entity Clarity Assets LLC paid $8.2 million to Allied Properties through the entity 65th Development LLC for the development building (V1) at 801 65th Street in Dyker Heights, Brooklyn. The expected use is ground up development. The deal closed on September 23, 2024 and was recorded on October 2, 2024. The property has zero square feet of built space and…