Transfers

CACHED

Pre-foreclosure filed for $55M FiDi loan given to now-shuttered college

Loan — 1/29/2024 8:01

The trustee for a securitized loan with an original principal of $55 million filed a pre-foreclosure action seeking the sale of a 150,000-square-foot dormitory condominium unit at 2 Washington Street in the Financial District of Manhattan. Alliance University, the new identity for a 140-year-old institutional formerly known as Nyack College, after losing its accreditation, closed in August 2023, according to news reports. Since July 2023,…

Michael Shapiro signs $11.5M construction loan with S3 Capital for 30-unit project in Sheepshead Bay

Loan — 1/29/2024 7:52

Michael Shapiro through the entity 2518 Ocean Ave Tower LLC as borrower signed a new construction loan with lender S3 Capital through the entity S3 Re Funding II LLC valued at $11.5 million for two properties with two residential units including the development building (V1) at 2518 Ocean Avenue in Sheepshead Bay, Brooklyn. On these lots, there is one active new building construction project for…

Gilad Tamir signs $13.2M refi loan with Trevian Capital for new 25-unit building in Greenpoint

Loan — 1/29/2024 7:49

Gilad Tamir and Raymond Michael Gallagher through the entity Galcon Developments LLC as borrower signed a refi loan with lender Trevian Capital through the entity TC Cf I LLC valued at $13.2 million for a new 25-unit building at 540 Graham Avenue in Greenpoint, Brooklyn. There is a new building project for a 25-unit, 18,042 square-foot R-2 building submitted by Gilad Tamir with plans filed…

Adellco signs $30.5M construction loan with Arbor Realty Trust for office renovation in Flatiron District

Loan — 1/29/2024 7:44

Adellco’s president through the entity 114 East 25th Ventures, LLC as borrower signed a rehab construction loan with lender Arbor Realty Trust through the entity Arbor Realty SR, Inc. valued at $30.5 million for the office building (O6) at 114 East 25th Street in Flatiron District, Manhattan. Although Matthew Adell of Adellco signed for the loan, it was not clear who the beneficial owner of…

Monadnock, Project Renewal sign $102.9M construction loan in Grand Central

Loan — 1/29/2024 7:38

Monadnock Development and Project Renewal through the entity New Providence Housing Owner LLC as borrower signed a construction loan with lender NYC Housing Development Corporation and New Providence (Shelter) Deal ID No. 50008926 valued at $102.9 million for two properties with 59 residential units including the 59-unit specialty building (N2) at 217 East 45th Street in Grand Central, Manhattan and office building (O2) at 215…

Michael Shapiro pays $4M to Alexander Finkelshteyn for 30-unit dev site in Sheepshead Bay

Loan — 1/29/2024 7:35

Michael Shapiro through the entity 2518 Ocean Ave Tower LLC paid $4 million to Alexander Finkelshteyn through the entity 2518 Ocean Avenue LLC for the 30-unit development site (V1) at 2518 Ocean Avenue in Sheepshead Bay, Brooklyn. On these lots, there is one active new building construction project for a 30-unit, 23,504 square-foot R-2 building. The project was submitted by Alex Finkelshteyn with plans filed…

Nonprofit mental health group pays $4.9M for retail in Sheepshead Bay

Sale — 1/29/2024 7:32

The nonprofit Interborough Developmental & Consultation Center paid $4.9 million to the entity Notias Estates LLC for the retail building (O5) at 1670 East 17th Street in Sheepshead Bay, Brooklyn. The deal closed on January 10, 2024 and was recorded on January 26, 2024. The property has 10,900 square feet of built space and 4,722 square feet of additional air rights for a total buildable…

Neel Dvidevi pays $5M for retail in Kew Gardens

Sale — 1/29/2024 7:29

Neel Dvidevi through the entity 135-11 Hillside LLC paid $5 million to Craig R. Strauss through the entity Ckr Realty Holding Co. LLC for the retail building (K1) at 135-11 Hillside Avenue in Kew Gardens, Queens. The deal closed on January 17, 2024 and was recorded on January 26, 2024. The property has 7,011 square feet of built space and 22,198 square feet of additional…

Hi Jong Lee pays $30M to Tony Park, MediaWill for retail in Penn Station

Sale — 1/29/2024 7:21

Retail investor Hi Jong Lee through the entity 500 W. Merrick Realty LLC paid $30 million to Tony Park and MediaWill through the entity 110 West 32nd LLC for the 32,780-square-foot retail condominium at 115 West 31st Street in Penn Station, Manhattan. The deal closed on January 11, 2024 and was recorded on January 26, 2024. The property has 32,780 square feet of built space…

Ohana Real Estate Investors signs $59M refi for hotel, residential in Downtown Brooklyn

Loan — 1/26/2024 9:25

Ohana Real Estate Investors through the entity TH Holdings Opco LLC as borrower signed a refi loan with lender Slate Asset Management through the entity SREC Reit Holdings Inc. valued at $59 million for three properties with 64 residential units including the hotel condo at 85 Flatbush Avenue Extension in Downtown Brooklyn, Brooklyn, 64-unit rental condo at 60 Duffield Street in Downtown Brooklyn, Brooklyn, and…

Empire Management signs $84.1M refi with Barclays for six rentals in Manhattan

Loan — 1/26/2024 9:22

Fred Ohebshalomn’s Empire Management through the entity Acquisition America IX, LLC as borrower signed a refi loan with lender Barclays through the entity Barclays Capital Real Estate Inc. valued at $84.1 million for six residential elevator properties with 387 residential units including the 94-unit residential elevator building (D3) at 509 Cathedral Parkway in Morningside Heights, Manhattan, 83-unit residential elevator building (D3) at 515 Cathedral Parkway…

Greenbrook, Carlyle pays $2.1M for 3-family in Bedford Stuyvesant

Sale — 1/26/2024 9:19

Greenbrook Partners and Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $2.1 million to Zi Hang Chen through the entity Made In Bk, LLC for the three-unit building (C0) at 1113 Herkimer Street in Bedford Stuyvesant, Brooklyn. The deal closed on January 19, 2024 and was recorded on January 25, 2024. The property has 2,520 square feet of built space and 672 square…

Abraham Biller pays $3.2M to Michael Karantinidis for three development parcels in Claremont Village

Sale — 1/26/2024 9:16

Abraham Biller through the entity 1527 Morris Realty L.P. paid $3.2 million to Michael Karantinidis through the entity Hephaistos Developing LLC for the development building (V0) at 1521 Morris Avenue in Claremont Village, Bronx, development building (V0) at 1527 Morris Avenue in Claremont Village, Bronx, and development building (V0) at N/A Morris Avenue in Claremont Village, Bronx. The deal closed on January 5, 2024 and…

Michael Karantinidis pays $4.1M for industrial in Long Island City

Sale — 1/26/2024 9:01

Michael Karantinidis through the entity Hephaistos Developing LLC paid $4.1 million to Robert J. Calleja through the entity Bobed Realty LLC for the industrial building (F9) at 39-13 23rd Street in Long Island City, Queens. The deal closed on January 17, 2024 and was recorded on January 25, 2024. The property has 7,125 square feet of built space and 11,397 square feet of additional air…

Mina Moussa pays $15.2M to Conway Capital for four buildings in Brooklyn

Sale — 1/26/2024 8:58

Mina Moussa paid $15.2 million to Abe Cohen’s Conway Capital for four buildings in Brooklyn including 74 1st Place in Carroll Gardens, 228 Livingston Street in Boerum Hill and 710 Degraw Street and 302 5th Street in Park Slope. Each building sale was a separate transaction. In the first, Mina Moussa through the entity Turbo 74 1st Place LLC paid $5.2 million to Conway Capital…

Bluestar Properties pays $23.45M for six walkups in East Village with 121 units

Sale — 1/26/2024 8:51

Jeffrey Pikus’s Bluestar Properties paid $23.45M to the Kessler family for six walkups in East Village with 121 units in five separate transactions. The addresses are 72-74 East 7th Street, 229 East 11th Street, 314 East 9th Street, 219 East 10th Street and 260 East 10th Street. In the first transaction, Bluestar Properties through the entity 72-74 East 7th LLC paid $7.6 million to Karen…

Legion Investment Group expands Carnegie Hill dev site with $22M corner purchase

Sale — 1/26/2024 8:42

Victor Sigoura’s Legion Investment Group through the entity Madison Ave Owner LLC paid $22 million to Richard Basch through the entity 1128 Madison Avenue, LLC for the retail building (K2) at 1128 Madison Avenue in Carnegie Hill, Manhattan. This purchase expands the development site Legion Investment Group owns on the block. The deal closed on January 11, 2024 and was recorded on January 25, 2024….

Courts roundup: $170M hotel auction ordered, $6M auction scheduled, $5.8M auction scheduled

Other — 1/26/2024 6:25

Judge backs Yellowstone’s $170M hotel foreclosure: State Supreme Court Justice Andrew Borrok on January 22, 2024, sided with lender Yellowstone Real Estate Investments, affirming a motion of summary judgment that advances the lender’s effort to take control of the shuttered 697-unit Maxwell Hotel, at 541 Lexington Avenue, in Midtown East, Manhattan. However, even with the summary judgment in Yellowstone’s favor, there are still avenues that…

Steven Elghanayan signs $15M refi loan with Sterling Bank & Trust for 7-unit rental in Tribeca

Loan — 1/25/2024 9:36

Steven Elghanayan’s EPIC LLC through the entity 217 Newco LP as borrower signed a refi loan with lender Sterling Bank & Trust valued at $15 million for the seven-unit residential elevator building (D6) at 217-219 West Broadway in Tribeca, Manhattan. The deal closed on January 18, 2024 and was recorded on January 24, 2024. The prior lender was OceanFirst Bank which held debt that had…

Phipps signs $218.9M construction loan in Far Rockaway

Loan — 1/25/2024 9:32

Phipps Houses through the entity Frv Phase 5 CF Master Tenant LLC as borrower signed a new construction loan with lender NYC Housing Development Corporation valued at $218.9 million for multiple development parcels including 16-25 Redfern Avenue in Far Rockaway, Queens. On these lots, there are active new building construction projects. The largest is a new building project for a 55-unit, residential R-2 building submitted…