Raymond Yu’s Yuco Management through the entity Sunset Park Properties, LLC paid $8.8 million to Robin E. Gross and Arthur Purzycki through the entity 134 Montague Realty Property, LLC for the seven-unit residential walkup building (C7) at 134 Montague Street in Brooklyn Heights, Brooklyn. The deal closed on December 20, 2023 and was recorded on January 22, 2024. The property has 7,825 square feet of…
A Korean trust managed by a South Korean bank alleges a $25 million mezzanine loan given for Moin Development’s Mondrian hotel project at 444 Park Avenue South in NoMad, Manhattan, was not repaid and now nearly $37.4 million is owed. David Moinian lost the property in foreclosure last year. Case LINK Court filings represent the position of one party and are not necessarily accurate or…
Daniel Kaykov, CEO of Renovation Group, signed a $12 million contract to buy land with 49,753 square feet of development rights that makes up a portion of the parcel at 259 22nd Street in Greenwood Heights, Brooklyn. The seller is St. John’s Roman Catholic Church, which will remain on a portion of the current tax lot. The existing tax lot, 13, will be divided into…
UPDATED: Jeff Sutton of Wharton Properties sold the 115,000-square-foot retail at 717 Fifth Avenue in the Plaza District for $963 million to the publicly traded Paris-based fashion brand, Kering. The sale closed today, January 22, 2024, according to a news release from the buyer. The retail space is currently occupied by Armani and Dolce & Gabbana. Kering owns luxury fashion brands such as Gucci, Saint…
Fannie Mae filed an $11.9 million pre-foreclosure action against the owner of adjacent properties at 82-84 Wadsworth Avenue in Washington Heights, Manhattan, that the borrower purchased just over a year ago. Basya Weiss bought the two buildings in December 2022 for $15.5 million and borrowed $11.9 million, which was originated by JLL and assigned to Fannie Mae. Fannie Mae alleges the borrower did not make…
Lender Wells Fargo filed a pre-foreclosure action related to a $60 million loan secured by a 10-story office buildings at 24-26 West 57th Street in Midtown West, along Billionaires’ Row. APF Properties owns the building, and borrowed the $60 million in 2016. The lender alleges “the maturity date of the Loan was extended several times, and finally set at August 1, 2023. At maturity, the…
Steven Li through the entity Grosvenor Realty Group II LLC as borrower signed a refi loan with lender Popular Bank valued at $16 million for the 55-unit residential elevator building (D6) at 82-77 116th Street in Kew Gardens, Queens. The deal closed on December 22, 2023 and was recorded on January 19, 2024. The prior lender was Popular Bank which held debt that had an…
A&R Kalimian Realty through the entity Alkal L.P. as borrower signed a refi loan with lender Citibank valued at $52.1 million for the 110-unit residential elevator building (D3) at 305 East 63rd Street in Lenox Hill, Manhattan. The deal closed on January 8, 2024 and was recorded on January 19, 2024. The prior lender was Citibank which held debt that had an original loan amount…
Rybak Development through the entity 78-29 Austin Street Holding LLC as borrower signed a new construction loan with lender Valley National Bank valued at $71 million for the development parcel (V0) at 78-29 Austin Street in Forest Hills, Queens. On the lot, there is one active new building construction project for a 91-unit, 150,780 square-foot R-2 building. The project was submitted by Charles Tsakh with…
Hefeng Chen through the entity 3826 LIC LLC paid $3.7 million to Amit Veeramachaneni through the entity 2318 Flatbush Avenue Corporation for the hotel development site (H3) at 38-20 28th Street in Long Island City, Queens. There is a new building project for a 51-unit, 14,036 square-foot hotel (R-1) building submitted by Amit Veeramachaneni with plans filed September 18, 2015 and it has not been…
Carlyle Group through the entity Townhouse Rental, L.L.C. paid $6.9 million to Greenbrook Partners through the entity Gh 38 3 St Fee, LLC for the eight-unit residential walkup building (C1) at 38 3rd Street in Carroll Gardens, Brooklyn. Greenbrook Partners remains in the deal as a partner with Carlyle Group. The firms are co-owners of dozens of small rental buildings in Brooklyn. The deal closed…
UPDATED: The entity Cosmic Art Studio LLC with unknown ownership paid $8 million to Roland J. Augustine and Lawrence R. Luhring through the entity Even Clearer Skies, LLC for the retail building (K4) at 25 Knickerbocker Avenue in East Williamsburg, Brooklyn. The deal closed on January 16, 2024 and was recorded on January 19, 2024. The property has 10,120 square feet of built space and…
Simkho Aranbayev paid $11.5 million for two properties in Queens including retail in Jackson Heights at 94-11 37th Avenue and mixed-use in Astoria at 35-02 30th Avenue, in two separate transactions. In the larger transaction, Simkho Aranbayev through the entity 105-16 Flat LLC paid $9.5 million to Helen Harris and Rosalie Harris through the entity Great Mid Atlantic Realty Corp. for the retail building (K1)…
The affordable and supportive housing developer Lantern Organization through the entity Silverleaf Lantern Investor LLC acquired a 99.9 percent interest from affordable developer Richman Group and U.S.A. Institutional Tax Credit Fund XXXIX L.P., through the entity The Richman Group Capital Corporation valued at $14.1M for the 118-unit residential elevator building (D1) at 1852 Washington Avenue in Tremont, Bronx. The Lantern Organization has been involved with…
The contract vendee for a $16 million purchase of adjacent properties at 144-32 and 144-36 Northern Boulevard in Flushing, Queens, wants to terminate the deal five months after filing bankruptcy in order to hold on to the contract, according to a lawsuit filed yesterday in Queens County Supreme Court. LINK The buyer, Shi Yun Pan, who is the plaintiff and contract vendee, sought to purchase…
Nader Ohebshalom’s Gatsby Enterprises through the entity 92nd Street 1 LLC as borrower signed a refi loan with lender Capital One valued at $22.2 million for three residential walkup properties with 85 residential units including the 28-unit residential walkup building (C7) at 163 East 92nd Street in Carnegie Hill, Manhattan, 28-unit residential walkup building (C7) at 159 East 92nd Street in Carnegie Hill, Manhattan, and…
SMA Equities through the entity 299 3rd Development, LLC as borrower signed a refi loan with lender JLL through the entity JLL Real Estate Capital, LLC valued at $70.6 million for the 108-unit residential elevator building (D6) at 397 Third Avenue in Gramercy, Manhattan. The deal closed on January 5, 2024 and was recorded on January 18, 2024. The prior lender was Valley National Bank…
Danny Guo paid $4.6 million to Hing Yiu Ng and Siu Man Ng for adjacent walkup buildings at 217-19 Madison Street in the Lower East Side of Manhattan in two separate transactions. In the first, Danny Guo through the entity 217-219 Madison Realty LLC paid $2.3 million to Hing Yiu Ng and Siu Man Ng through the entity 217-219 Madison Street Corp. for the 20-unit…
Angela Gazivoda paid $5.1 million to Lemle & Wolff Companies for two residential buildings at 2195 Walton Avenue and 2201 Walton Avenue in Fordham Heights, the Bronx in two separate transactions. In the first transaction, Angela Gazivoda through the entity 2195 Walton LLC paid $3.1 million to Lemle & Wolff Companies through the entity Lemle Realty Corporation for the 42-unit residential elevator building (D1) at…
Joel Fried through the entity 483 Driggs LLC paid $3.7 million to John Ziegler through the entity JWZ Holdings, LLC for the mixed-use building (S1) at 483 Driggs Avenue in Williamsburg, Brooklyn. The deal closed on December 28, 2023 and was recorded on January 18, 2024. The property has 3,949 square feet of built space and 3,548 square feet of additional air rights for a…
