Northwell Health’s Staten Island University Hospital paid Ascent Real Estate Advisors through the entity Area Seaview, LLC, $24.9 million for the hospital building (I1) at 501 Seaview Avenue in South Beach, Staten Island. The deal closed on March 28, 2024 and was recorded on April 19, 2024. The property has 48,954 square feet of built space according to a PincusCo analysis of city data. The…
A lender affiliated with the billionaire George Soros, Soros Fund Management, alleges the Eretz Group which owns most of the commercial building 224 West 57th Street in Midtown West, Manhattan, through four commercial condominium units, is in a maturity default of a $145 million loan. The fund filed a pre-foreclosure suit in New York State Supreme Court on April 18, 2024. The Soros Open Society…
Property owner Vladimir Furleiter through the entity Royal Development Inc. filed a bankruptcy petition to maintain control of a property at 9829 Ditmas Avenue in Brownsville, Brooklyn, while the property lender, Hirshmark Capital, seeks the appointment of a receiver in a state pre-foreclosure case. Furleiter bought the property in 1992, and refinanced the debt several times over the preceding decades, most recently in November 2021…
Hotel and restaurant owner Arthur Karpati through the entity 191 Chrystie LLC as borrower signed a refi loan with lender Hanover Capital through the entity 191 Chrystie Lender LLC valued at $8 million for the seven-unit residential walkup building (C7) with retail at 191 Chrystie Street in Lower East Side, Manhattan. The building is home to the club Outer Heaven. The deal closed on March…
Jeff Sutton’s Wharton Properties, Bobby Cayre’s Aurora Capital Associates and Alex Adjmi’s ACHS Management, through the entity 511 Fifth Partners LLC as borrower, signed an initial loan with the Korea-based lender NongHyup Bank valued at $10 million for the office building (O6) at 511 5th Avenue in Grand Central, Manhattan. Sutton, Cayre and Adjmi are ground lease tenants who signed a 99-year ground lease in…
Time Equities through the entity 134 West 93rd Street Equities LLC as borrower signed a refi loan with lender Time Equities through the entity Time Equities Associates LLC valued at $20.5 million for three buildings with a total of 78 residential units including the 42-unit walkup building (C7) at 170 Spring Street in SoHo, and 310 West 97th Street and 134 West 93rd Street on…
Richard S. Berry, the fee owner and ground lessor, through the entity Kerria 2 Associates LLC as borrower signed a refi loan with lender Apple Bank valued at $54 million for the office building (O6) at 594 Broadway in SoHo, Manhattan. The building is on a long-term lease with the ground lessee, the Gural family’s GFP Real Estate, signed in 1988. The deal closed on…
Carlyle Group and Greenbrook Partners through the entity Townhouse Rental II, L.L.C. recapitalized $7 million to the four-unit residential walkup building (C1) at 419 3rd Street in Park Slope, Brooklyn. Greenbrook Partners previously owned the building with an unnamed equity party through the entity 419 3 St, LLC. The deal closed on April 16, 2024 and was recorded on April 18, 2024. The property has…
The entity 717 Eastern Parkway LLC paid $4 million to Albert Benarroche for the four-unit building (C3) at 717 Eastern Parkway in Crown Heights, Brooklyn. The deal closed on April 11, 2024 and was recorded on April 18, 2024. The property has 5,600 square feet of built space and 265 square feet of additional air rights for a total buildable of 5,861 square feet according…
Kingsdel Real Estate through the entity Prospect Place Brooklyn LLC paid at least $4 million for a site previously owned by Joseph Segreti through the entity Column A Realty LLC, which is the development site with addresses 1415 Bedford Avenue and 699 through 705 Prospect Place in Crown Heights, Brooklyn. There is a new building project for a 17-unit, 17,794 square-foot residential (R-2) building submitted…
Urban Builders Collaborative, an affiliate of Lettire Construction, through the entity UBC Lic LLC paid $14 million to Roxter Lighting through the entity 10-11 40th Avenue Realty Corp. for the industrial building (F9) at 10-11 40th Avenue in Long Island City, Queens, industrial building (F1) at 38-78 11th Street in Long Island City, Queens, and 1-4 family building (A2) at 38-67 10th Street in Long…
Clipper Equity through the entity Bedford Beverly 2359 LLC as borrower signed a new construction loan with lender Bank Hapoalim valued at $95 million for the residential project at 2359 Bedford Avenue in Flatbush, Brooklyn. This is job B00698118, one of at least four jobs the developer has filed on the former Sears parcel. Clipper Equity submitted a new building construction project for a 130-unit,…
Jay Group, AB & Sons Group, and Jacob Aini through the entity 620w153aa LLC as borrower signed a refi loan with lender Bank of Montreal valued at $117 million for the 238-unit property at 620 West 153rd Street in Harlem, Manhattan. The building is a 238-unit, residential (R-2) building submitted by Joel Kohn with plans filed December 15, 2020 and permitted November 4, 2021. The…
Lender Parkview Financial alleges a $92 million construction loan provided to Baruch Singer’s Triangle 613 LLC, for the development of a 215,661-gross-square-foot development at 1508 Coney Island Avenue in Midwood, Brooklyn, is in default. The lender is seeking payment of a guaranty, not filing a foreclosure. The building at the corner of Avenue L is to be the home to a yeshiva, as well as…
A bankruptcy specialist placed the 4,800-square-foot West Village townhouse at 36 West 11th Street into bankruptcy protection, alleging it is worth about $8 million and has about $10 million in secured and unsecured liabilities. The petition was filed April 16, 2024, in the Southern District of the U.S. Bankruptcy Court. The specialist, David Goldwasser of FIA Capital Partners, includes in the filing an assertion that…
Fannie Mae, which holds a $10.75 million note given in January 2021 and secured by the 40-unit rental walkup at 245 Sullivan Place in Crown Heights, Brooklyn, alleges the loan is in default and on April 17, 2024, filed a pre-foreclosure action in U.S. District Court in Brooklyn. The members of the entity that owns the property, 245 Sullivan Ave LLC are Moses Neuman, Solomon…
UPDATED, 8:40 a.m., April 18, 2024: Victor Sigoura’s Legion Investment Group, which recently purchased an assemblage of properties in Gramercy, paid $87.4 million for a stalled development site in Chelsea with the address 540 West 21st Street. Legion bought the site through the entity 550W21 Owner LLC. Casco Development placed into bankruptcy last year in an effort to sell the property. At the time, the…
UPDATED: Spear Street Capital through the entity 2 Crosby Owner LLC as borrower signed a initial loan with lender Voya Investment Management through the entity Security Life of Denver Insurance Company valued at $21.8 million for the office building (O5) at 2 Crosby Street also known as 30-32 Howard Street in SoHo, Manhattan. The deal closed on April 11, 2024 and was recorded on April…
J&J Farms Creamery through the entity J&J Maspeth Owner LLC as borrower signed a refi loan with lender Israel Discount Bank valued at $22.5 million for the industrial building (E1) at 57-48 49th Place in Maspeth, Queens. The deal closed on March 29, 2024 and was recorded on April 16, 2024. The prior lender was Alma Bank which held debt that had an original loan…
Century Development Group through the entity 90 Ave Realty De LLC as borrower signed a refi loan with lender Bravo Capital through the entity Bravo Capital LLC valued at $29.7 million for the 90-unit residential elevator building (D1) at 148-31 90th Avenue in Jamaica, Queens. The deal closed on April 8, 2024 and was recorded on April 16, 2024. The prior lender was MF1 Capital…
