A securitized loan trust through a judicial foreclosure auction in August took title to a Garment District office building at 29 West 35th Street that secured a $41 million defaulted loan, court records show. The total judgment was $57.6 million, and the winning bid was $22 million. The sale was held at the State Supreme Court House in Lower Manhattan on August 21, 2024. This…
Hersel Torkian’s Torkian Group paid $25 million to Robert Lemle’s Copperwood Real Estate and a partner for three adjacent properties that make up a development site at 1382 to 1386 Second Avenue in Lenox Hill, at the corner of 71st Street. In addition Torkian Group paid $3.76 million for air rights from a neighboring property, 1388 Second Avenue, that is also owned by Copperwood Real…
The trustee for 11 loans totaling $25.5 million that are secured by Brooklyn rental buildings that Yoel Goldman of All Year Management acquired, alleges they are in default and filed 11 pre-foreclosure actions in Brooklyn State Supreme Court for each of them last week. The loans range from $980,000 to $3.33 million, and most of the properties are less than 10 units. The trustee, U.S….
Lender Mack Real Estate Group alleged in a lawsuit filed Friday that principals of the Chetrit Group have defaulted on a $31.5 mezzanine loan secured by an interest in the stalled hotel redevelopment at 250 West 43rd Street in Times Square, Manhattan, and that $6.5 million is due immediately. The filing comes about three weeks after Mack Real Estate Group sued a Chetrit Group principal…
ASLD Realty through the entity CI Notes LLC bought a note with an original principal of $3.3 million from Flushing Bank secured by Yakov Jon Basmanov’s mixed-use building (K4) at 815 Westchester Avenue in Longwood, Bronx, and three adjacent lots. The deal closed on September 23, 2024 and was recorded on September 27, 2024. The prior lender was Flushing Bank which held debt that had…
Israel Chaim Hirsch and Chayim Rosenfeld through the entity Cyh Milford St LLC as borrower signed a refi loan with lender IceCap Group through the entity Ice Lender Holdings, LLC valued at $8 million for the industrial building (F5) at 22 Milford Street in East New York, Brooklyn. Moses Rabinowitz submitted a major alteration application for a conversion of the commercial (COM) building to a…
Joel Silberstein through the entity 226 Gardens LLC paid $1.5 million to Ilush Pulatov through the entity 709 East 226 LLC for the three-unit mixed-use building (S3) at 709 East 226th Street in Wakefield, Bronx. The expected use is cash flowing. The deal closed on September 23, 2024 and was recorded on September 27, 2024. The property has 4,422 square feet of built space and…
Jacob Friedman through the entity Y & O Realty LLC paid $2.5 million to Ronny Shmoel through the entity 1635 Realty LLC for the industrial building (E9) at 1635 McDonald Avenue in Midwood, Brooklyn. The expected use is cash flowing. This property is one of three adjacent properties that Ronny Shmoel has owned. The other two, 1629 McDonald Avenue and 1625 McDonald Avenue just to…
The entity Didco Urban Renewal Company, associated with Ivor Braka, David Braka, and Benjamin Braka, paid $8 million to Aetna Realty through the entity 344 Bowery Retail LLC for the retail condo at 344 Bowery in NoHo, Manhattan. The expected use is cash flowing. Aetna Realty is also affiliated with the Braka family. The deal closed on September 25, 2024 and was recorded on September…
Peter Hungerford’s PH Realty Capital and Rockledge paid $49.5 million to Sentinel Real Estate for six rental buildings in Brooklyn including 1511-1521 Brightwater Avenue and 200-210 Brighton 15th Street in Brighton Beach, and 165 East 19th Street, 120 East 19th Street, 287 East 18th Street and 1803 Beverley Road in Flatbush in six transactions. In the first, PH Realty Capital and Rockledge through the entity…
The entities that own three Garment District properties, 28 West 36th Street, 32 West 39th Street and 36 West 39th Street, which together secure a $52 million loan from the Lightstone Group, were placed into chapter 11 bankruptcy protection on Wednesday in two separate filings. The bankruptcies come as a May 2024 state court proceeding in a related action 652669/2024 had been reviewing the appointment…
Namdar Realty Group bought two notes with original principals of $1.5 million each secured by in notes secured by two East Village rental buildings, 324 East 14th Street and 75 Second Avenue, in two separate transactions. Namdar already owns additional debt on both the buildings. In the first, Namdar Realty Group through the entity East 14th Street Holdings LLC bought a note with an original…
Skyland Management through the entity 120 Lexington Ave. Corp. as borrower signed a refi loan with lender Hakimian Partners through the entity Hakimian Partners LLC valued at $7.5 million for four properties, composing one vacant development lot at 120-126 Lexington Avenue, at the corner of East 28th Street in NoMad, Manhattan. The deal closed on September 20, 2024 and was recorded on September 26, 2024….
Victor Gjonaj paid $18 million to Robert Miller for two rental buildings at 94-20 66th Avenue and 94-19 66th Avenue, each with 54 units, located across 66th Avenue from each other in Rego Park, Queens, in two transactions. In the first, Victor Gjonaj through the entity 94-20 Rego Park LLC paid $9 million to Robert Miller through the entity 94-20 Realty Co., LLC for the…
Joseph Shrem and Morris Lincer through the entity 2004 Owners Realty LLC paid $11.6 million to Isaac Wolfe and Seymour Dayan through the entity Re Acquisitions Ny LLC for the industrial building (F9) at 2004 Mcdonald Avenue in Gravesend, Brooklyn. The expected use is cash flowing. The deal closed on September 18, 2024 and was recorded on September 26, 2024. The property has 24,300 square…
PH Realty Capital and Rockledge through the entity 4101 Broadway Owner LLC paid $11.6 million to Sentinel Real Estate through the entity Broadway Towers Nyc, LLC for the 74-unit residential elevator building (D4) at 4101 Broadway in Washington Heights, Manhattan. The expected use is cash flowing. The deal closed on September 20, 2024 and was recorded on September 26, 2024. The property has 78,425 square…
Friedland Properties through the entity LF 2024 Retail LLC paid $36 million to Duell family through the entity 673 Madison LLC for the two-unit mixed-use building (K4) at 673 Madison Avenue in Lenox Hill, Manhattan. The expected use is cash flowing. The Duell family put a nine-building, approximately $300 million portfolio on the market earlier this year. The deal closed on September 17, 2024 and…
A court-appointed referee set October 16, 2024, as the date to auction off the shuttered 697-unit Midtown East hotel, the Maxwell, at the New York State Supreme Court Building in Lower Manhattan. The auction was set through a notice of sale dated September 18, which noted the judgment was $218 million. State Supreme Court Justice Andrew Borrok on May 8, 2024, sided with lender Yellowstone…
UPDATED: Aby Rosen and Michael Fuchs’s RFR Holding filed a lawsuit yesterday asking a judge to block its landlord Cooper Union from terminating RFR Holding’s $75.5 million ground lease at the Chrysler Building. The complaint alleges Cooper Union sent a 10-day lease termination notice on September 13, after it alleged RFR, its tenant, had not made ground lease payments in June and July. RFR filed…
The family office Manhattan Five Partners through the entity MH 356 Bowery, LLC as borrower signed a refi loan with lender Israel Discount Bank valued at $6.3 million for the four-unit building (C3) at 356 Bowery in NoHo, Manhattan. The deal closed on September 20, 2024 and was recorded on September 25, 2024. The property has 6,155 square feet of built space and 11,691 square…
