Sabet Group paid a total of $11 million to Leonard Eis for adjacent buildings at 60 Second Avenue and 58 Second Avenue in the East Village, Manhattan, in two separate transactions. In the larger transaction, Sabet Group through the entity 60-62 Second Ave LLC paid $6.5 million to Leonard Eis through the entity 60 Second Avenue Corporation for the 24-unit residential elevator building (D9) at…
Terreno Realty Corporation through the entity Terreno Trex I, LLC acquired from Blackstone Group through the entity Bpp Tango Industrial Lf1 Master Holdings LLC valued at $246 million for a portfolio of 21 properties near John F. Kennedy International Airport including the industrial building (E1) at 182-17 150th Avenue, the industrial building (E1) at 179-02 150th Avenue, and the industrial building (E1) at 145-30 157th…
Four Kalimian-Amirian portfolio lawsuits settled: Four long-running lawsuits related to disputes over the management of portions of a large portfolio owned by members of the Kalimian and Amirian families have been settled or otherwise disposed of, the most recent ending yesterday. The lawsuits generally revolved around management of assets in the portfolio. For example in one lawsuit, 654615/2022, filed in December 2022, related to 259…
Carlyle Group and Sabharwal Properties through the entity 72 Caton Place Owner, L.L.C. as borrower signed a refi loan with lender Prudential Financial through the entity PGIM Real Estate U.S. Debt Fund REIT, LLC valued at $71 million for the storage building (E7) at 72 Caton Place in Windsor Terrace, Brooklyn. The deal closed on March 27, 2024 and was recorded on May 8, 2024….
Grubb Properties through the entity Queens Plaza North New York, LLC as borrower signed a senior construction loan with lenders Kennedy Wilson and Crum & Forster valued at $150 million for the 417-unit development at 41-34 27th Street in Long Island City, Queens. On the lot, there is one active new building construction project for a 417-unit, 292,165 square-foot R-2 building, through job number Q00557681….
Brookfield Properties through the entity BOP 2401 Third Avenue Owner LLC as borrower signed a refi loan with lender Ares Management through the entity Ares Commercial Real Estate Management LLC valued at $340 million for two residential elevator properties with a total of 784 residential units including the 370-unit residential elevator building (D6) at 2401 3rd Avenue in Mott Haven, Bronx and 414-unit residential elevator…
Meena Seenivasan and Thangamani Seenivasan through the entity Onyx Court LLC paid $2.5 million to Emilio Barreto for the two-unit mixed-use building (S2) at 471 Grand Street in Williamsburg, Brooklyn. The deal closed on April 30, 2024 and was recorded on May 8, 2024. The property has 2,250 square feet of built space and 3,097 square feet of additional air rights for a total buildable…
Rusi Sanjana and Shiraj Sanjana through three entities including Driggs Development LLC paid $6.5 million to the estate of Frank Frishtachi and Suzannah Matalon Fristachi through the entity Grand Art Gallery LLC for the development parcels including (V0) at 708, 710 and 712 Driggs Avenue in Williamsburg, Brooklyn. On these lots, there is one active new building construction project for a 11-unit, 23,317 square-foot R-2…
BWH Group through the entity 1667 Sheepshead Bay LLC paid $8 million to Ianthe Kallas-Bortz through the entity 1667 Realty Holding LLC for the development site (V1) at 1667 Sheepshead Bay Road in Sheepshead Bay, Brooklyn. On the lot, there was one active major alteration construction project for a 41,366 square-foot B building. The project was submitted by Ianthe Kallas-Bortz with plans filed September 23,…
In another in a series of dozens of similar transactions, Greenbrook Partners recapitalized two rental properties it had previously acquired with other investors, and sold them to Carlyle Group. As in the previous sales, Greenbrook Partners remains in the deal. In the latest two transactions, Carlyle Group with Greenbrook Partners recapitalized adjacent rental buildings in Park Slope, Brooklyn, 784 and 786 President Street for, $17.8…
Golden Bridge Funding filed a $16.8 million pre-foreclosure filing in Queens State Supreme Court yesterday, alleging the loan given in 2022 and secured by a 19-unit condominium project at 21-01 21st Street, in Astoria, Queens, is in payment and maturity defaults. The property is being developed by Halil Todic, who is the principal of the condominium plan and a signatory for the loans and Barry…
UPDATED, 6:19 a.m., August 14, 2024: Beach Point Capital Management, through the entity BP Holdings Goldenrod LLC, with an address in the General Motors Building, bought a note with an original principal of $112 million from a securitized entity called Series 2019-BOSS, with the special servicer Trimont LLC, secured by Chetrit Group’s Hotel Bossert (H9) at 98 Montague Street in Brooklyn Heights, Brooklyn. An earlier…
Catholic Charities Brooklyn & Queens through the entity Livonia C3 Housing Development Fund Corporation as borrower signed a new construction loan with lender NYC Housing Development Corporation valued at $108.1 million for a 142-unit project at 651 Mother Gaston Boulevard in Brownsville, Brooklyn. Jeanne Diulio of Catholic Charities Brooklyn & Queens submitted a new building construction project for a 142-unit, 117,866 square-foot residential (R-2) building…
Island Capital Group through the entity Lexington Hotel Owner LLC as borrower signed a refi loan with lender Hudson Bay Capital Management through the entity HBC Real Estate Holdings II, LLC valued at $155 million for the Lexington Hotel building (H1) at 511 Lexington Avenue in Midtown East, Manhattan. The deal closed on April 29, 2024 and was recorded on May 7, 2024. The prior…
Related Companies through the entities A/R Retail LLC and A/R Garage LLC as borrowers signed a refi loan with lender MetLife and Pacific Life Insurance Company valued at $450 million for the retail condominium unit at 10 Columbus Circle and the garage property with an address of 35 Columbus Circle, both in Lincoln Square, Manhattan. The property is known as the Shops at Columbus Circle….
Nikolaos Nikolaidis through the entity Odyssey Realty, Corp. paid $5.5 million to Charles Restivo through the entity 29-12 Newtown LLC for the 16-unit residential walkup building (C1) at 29-12 Newtown Avenue in Astoria, Queens. The deal closed on May 2, 2024 and was recorded on May 7, 2024. The property has 11,820 square feet of built space and 1,712 square feet of additional air rights…
Zheng Sheng Zheng through the entity 146-26 Property Holding LLC paid $7.9 million to Tricap through the entity BCR Associates for the retail building and parking lot (K1) at 146-26 Northern Boulevard in Flushing, Queens. Based on the price per square foot, PincusCo infers this is a development site. The deal closed on April 29, 2024 and was recorded on May 7, 2024. The property…
A referee scheduled a foreclosure auction on May 29, for ATCO Properties & Management’s 165,000-square-foot office building at 240 West 35th Street in the Garment District, Manhattan, with a total judgment of $74.7 million, the notice of sale published yesterday, shows. The sale is planned for 2:15 p.m. in room 130 in the New York County Courthouse in Lower Manhattan. This is the third large…
Arkview Capital, an investment firm with holdings including Icon Parking, through the entity C2jm Holdings LLC paid $4.5 million for a bankrupt Flushing, Queens, parking garage condominium unit at 37-20 Prince Street at an auction held December 7, 2023 at the Midtown offices of the debtor, an affiliate of the Washington, D.C.-based Invictus Capital Partners. On the same day, Xiao Jun Chen through the entity…
The Korean firm KTB Asset Management which holds $205 million in 2017 mezzanine debt secured by an equity interest in RFR Holding’s 285 Madison Avenue, alleges RFR Holding principals Aby Rosen and Michael Fuchs have defaulted on a set of payments related to the loan, and together owe $1.5 million. The allegations were made in a complaint and related documents the lender filed yesterday in…
