Skyward Developers through the entity 53 E 177 Realty LLC as borrower signed a refi loan with lender Castle Lanterra through the entity CL Credit Opportunities Lender LLC valued at $24 million for the 81-unit residential elevator building (D7) at 53 East 177th Street in Mt Hope, Bronx. The deal closed on March 25, 2024 and was recorded on April 9, 2024. The prior lender…
Joel Wieder through the entity Gw Ryer LLC as borrower signed a new construction loan with lender NorthEast Community Bank valued at $34.8 million for the 102-unit project at 2047 Ryer Avenue in Fordham Heights, Bronx. On the lot, there is a new building project for a 102-unit, 67,673 square-foot residential (R-2) building submitted by Spaxel and filed by Gzim Hasandjekic with plans filed March…
Williams Equities through the entity 23rd Street Properties LLC as borrower signed a refi loan with lender Citibank through the entity Citi Real Estate Funding Inc. valued at $155 million for the office building (O3) at 28 to 40 West 23rd Street in Flatiron District, Manhattan. The deal closed on April 5, 2024 and was recorded on April 9, 2024. The prior lender was Series…
Joel Werzberger sold a two-parcel development site at 1118 57th Street and 1122 57th Street in Borough Park, Brooklyn for $5 million in two separate transactions. The buyer was an entity in the care of the Brooklyn law firm Treff & Lowy. In the first, the entity 57th Dev LLC paid $2.5 million to Joel Werzberger through the entity 1172 57 LLC for the development…
Dunn Development, a major affordable housing developer, through the entity Bronx Affordable Holdings LLC paid $2.7 million to Sasha Mehdyzadeh’s SilverRock Development Company through the entity 860 Bronx LLC for the development parcel (V0) at 860 East 147th Street in Mott Haven, Bronx. This is the first purchase by Dunn Development that PincusCo has tracked since at least the start of 2020. The deal closed…
Prabesh Gajurel, Bijaya Khadka, and Oscar E. Proano through the entity Realta LLC paid $2.9 million for the industrial building (F4) at 52-09 Van Dam Street in Long Island City, Queens. The deal closed on March 28, 2024 and was recorded on April 9, 2024. The property has 6,035 square feet of built space according to a PincusCo analysis of city data. The sale price…
Ruben Rafailov, Ilyazar Rafailov, and Yakov Rafailov through the entity 9815 Jamaica LLC paid $3.1 million to the Branchinelli family through the entity Branchinelli Food Distribution Corp. for the industrial building (E9) at 98-15 Jamaica Avenue in Woodhaven, Queens. The deal closed on March 26, 2024 and was recorded on April 9, 2024. The property has 10,500 square feet of built space according to a…
First Atlantic Capital through the entity Deb Holding S.R.L. acquired a 78.1 percent interest from First Atlantic Capital through the entity Atlantic Investments S.P.A. valued at $18.8 million for two retail and commercial condominium units and one garage condominium unit at 215 North 10th Street in Williamsburg, Brooklyn. The transfer appears to be between two affiliated entities. PincusCo is reporting on the transfer since First…
Healthpeak Properties, a real estate investment trust, acquired an 86.48 percent stake valued at $51.3 million in the medical building (I9) at 6010 Bay Parkway in Bensonhurst, Brooklyn. The seller was Physicians Realty Trust. The transaction is part of a merger deal valued at $21 billion between Healthpeak Properties and Physicians Realty Trust, with the new company known as Healthpeak Properties. The sale closed on…
Shmuel S. Schlaff through the entity 4902 Spv LLC as borrower signed a new construction loan with lender Ponce Bank through the entity Ponce Bank valued at $27 million at 4902 14th Avenue in Borough Park, Brooklyn. On this lot there was a 67,791 square-foot assembly (A-3) building submitted by Manuel Scharf with plans filed August 28, 2018 and permitted June 2, 2023. The loan…
Vijay Gogia through the entity Rvmim LLC as borrower signed a refi loan with lender Argentic Investment Management through the entity Argentic Real Estate Investment 2 LLC valued at $28 million for the 90-unit project at 2481 Crotona Avenue in Belmont, the Bronx. The deal closed on April 2, 2024 and was recorded on April 8, 2024. The prior lender was Golden Bridge Funding which…
L+M Development Partners through the entity Mgx Associates Phase 2 Ce LLC as borrower signed a new construction loan with lender NYS Housing Finance Agency and the NYC Department of Housing Preservation and Development valued at $106.6 million for eight properties in Brownsville, Brooklyn. On these lots, there are two active new building construction projects and major alteration projects with initial costs more than $5…
Navigation Capital Group through the entity Lex 47th Property Owner LLC as borrower signed a refi loan with lender Kriss Capital through the entity Km 47th Street Us Financing Us Lp valued at $185 million for the 191-unit residential elevator building at 135 East 47th Street in Midtown East, Manhattan. The deal closed on March 27, 2024 and was recorded on April 8, 2024. The…
Gotham Organization, Christian Cultural Center, and Monadnock Development through the entity IUV Phase 1A Housing Development Fund Corporation as borrower signed a new construction loan with lender NYS Housing Finance Agency and the NYC Department of Housing Preservation and Development valued at $217.4 million for the 386-unit development at 30 Inspiration Lane in East New York, Brooklyn. The partners plan to build a 386-unit building…
Kahen Properties through the entity Gramercy Third LLC paid $3.7 million to an affiliate of Property Markets Group through the entity 194 Third Owner LLC for the four-unit mixed-use building (S4) at 194 Third Avenue in Gramercy, Manhattan. The deal closed on March 6, 2024 and was recorded on April 8, 2024. The property has 6,923 square feet of built space and 16,077 square feet…
Soon Hee Kim through the entity 398 Third Ave. LLC paid $8 million to Scott Fink through the entity 398 Third Avenue Realty LLC for the 16-unit residential walkup building (C7) at 398 Third Avenue in Kips Bay, Manhattan. The deal closed on March 29, 2024 and was recorded on April 8, 2024. The property has 12,595 square feet of built space and 17,031 square…
Hiwin Group USA through the entity HW Liberty LLC paid $21.7 million to Hidrock Properties through the entity 112 Liberty Associates LLC for the development site (V1) at 112 Liberty Street in Financial District, Manhattan. On this site there Hidrock submitted plans for a 230-unit, 92,864 square-foot hotel (R-1) building, submitted by Eddie Hidary with plans filed March 6, 2019 and permitted February 25, 2020….
LuxUrban Hotels through the entity LuxUrban RE Holdings LLC as plaintiff and master lessee of a 353-key hotel condo unit at 22 East 29th Street, currently known as the James Hotel, is disputing the status of its lease with landlord GFI Capital Resources Group. LuxUrban filed the case yesterday in New York State Supreme Court in Manhattan. Case LINK Court filings represent the position of…
The Blackstone Group through the entity SIG CRE 2023 Venture LLC, in care of its servicer Rialto Capital Advisors, alleges that RFR Holding and its principals are in default on two loans totaling $39 million. The loans are not secured by real estate, according to the suit. Blackstone filed the suit yesterday in New York State Supreme Court in Manhattan. Case LINK The now-defunct Signature…
The owner of a 4,742-square-foot townhouse at 19 East 75th Street in Lenox Hill, Manhattan, valued at $9.6 million that has a single residential unit and ground floor commercial space, filed to place it in bankruptcy to block a foreclosure auction initiated by Goodman Capital that was scheduled for April 10, 2024. Carl Thomson Jr. through the entity CLST Enterprises, LLC, filed the petition in…
