EMP Capital Group through the entity EMP Atlantic Property Owner LP as borrower signed a construction loan with lender QuadReal Property Group through the entity QR Real Estate Capital REIT LLC valued at $109 million for the 193-unit development site at 1042 Atlantic Avenue with an alternate address of 1035 Pacific Street in Crown Heights, Brooklyn. On these lots, there is one active new building…
Greenbrook Partners and the Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $3.2 million to Joseph Goldzal through the entity 234 SNA LLC for the five-unit residential walkup building (C2) at 234 St Nicholas Avenue in Bushwick, Brooklyn. The deal closed on January 4, 2024 and was recorded on January 10, 2024. The property has 4,247 square feet of built space and 125…
Jean-Claude Iacovelli through the entity 431 Broome LLC paid $4.1 million to Brooklyn Standard Properties through the entity 533 Bergen Street, LLC for the eight-unit residential walkup building (C1) at 533 Bergen Street in Prospect Heights, Brooklyn. The deal closed on December 29, 2023 and was recorded on January 10, 2024. The property has 6,548 square feet of built space according to a PincusCo analysis…
Wexcor Capital through the entity Wexcor W 175th St Rr, LLC paid $5.8 million to Barberry Rose Management Company through the entity Bsf West 175th Street Holding LLC for the 30-unit residential walkup building (C1) at 565 West 175th Street and the 30-unit residential walkup building (C1) at 571 West 175th Street, both in Washington Heights, Manhattan. The deal closed on December 27, 2023 and…
Grid Group through the entity Fitz Roy Road LLC paid $8.4 million to Muriel Gould estate for the mixed-use building (K4) at 247 West 16th Street in Chelsea, Manhattan. The deal closed on December 13, 2023 and was recorded on January 10, 2024. The property has 7,653 square feet of built space according to a PincusCo analysis of city data. The sale price per built…
Peak Capital Advisors through the entity 75 Thompson SDP Owner LLC paid $10 million to Gabriel Brodsky and Eugene Brodsky through the entity Thompson Development Co. for the 22-unit residential walkup building (C7) at 75 Thompson Street in SoHo, Manhattan. The deal closed on January 5, 2024 and was recorded on January 10, 2024. The property has 13,416 square feet of built space according to…
The referee for a $39 million foreclosure case related to a loan secured by 140 and 142 Fulton Street in the Financial District, set the auction date as January 24, 2024, at 60 Centre Street, according to court records filed yesterday. The property is owned by Hidrock Properties. The referee, Joshua Stein, computed the total judgment to be $39.2 million. Case 850142/2022 LINK Lender Bank…
The trustee for a securitized loan pool filed a $215 million pre-foreclosure action against the owner of the office and retail building 681 Fifth Avenue, following an alleged payment default from 2023. The 58,824-square-foot building is owned by Metropole Realty Advisors, led by Robert Siegel. The trustee Wells Fargo and the special servicer, Rialto Capital Advisors, on behalf of bondholders of Series 2016-UBS12 filed the…
An affiliate of the Sun Myung Moon-founded Unification Church through the entity HJ Magnolia Youngpyoung PineRidge bought a note with an original principal of $110 million from Yellowstone Real Estate Investments secured by the Unification Church’s New Yorker Hotel (H2) at 481 Eighth Avenue in Garment District, Manhattan. The formal name for the church is Family Federation for World Peace and Unification, and before 1994…
Prestige Properties & Development through the entity City Bay Plaza, LLC as borrower signed a refi loan with lender BankUnited valued at $31 million for five properties including the property (K1) at 352 Baychester Avenue in Co-op City, Bronx, property (K1) at 356 Baychester Avenue in Co-op City, Bronx, and property (K1) at 350 Baychester Avenue in Co-op City, Bronx. The deal closed on December…
CW Realty Group through the entity 1499 Bedford LLC as borrower signed a refi loan with lender H.I.G. Capital through the entity H.I.G Realty Financing, LLC with a total value of $56 million for the development at 1499 Bedford Avenue in Crown Heights, Brooklyn. The debt includes a $44 million senior loan and a $12 million mezzanine loan. On the lot, there is one active…
Anatoly Lednyak through the entity Roebling Residential LLC paid $5.4 million to Alan Bigel through the entity Balom Realty Corp for the specialty building (W8) at 233 Water Street in Financial District, Manhattan. The building was previously occupied by the Blue School, which closed after the 2022-2023 school year. The deal closed on December 21, 2023 and was recorded on January 9, 2024. The property…
Edison Equities through the entity RF110 Vanderbilt LLC paid $5.8 million to Greenland USA through the entity Pacific Park 550 Vanderbilt LLC for three retail condominium units at 550 Vanderbilt Avenue in Prospect Heights, Brooklyn. The deal closed on December 29, 2023 and was recorded on January 9, 2024. The three properties have 7,042 square feet of built space according to a PincusCo analysis of…
Jason S. Park and Dai Park through the entity JP Corban LLC paid $7 million to Townhouse Property Group through the entity 300 East 61st Street, LLC for the 11-unit residential walkup building (C4) at 532 East 83rd Street in Yorkville, Manhattan. The deal closed on January 3, 2024 and was recorded on January 9, 2024. The property has 8,230 square feet of built space…
Members of the Suratwala family through the entity Jai Sai Group, LLC paid $13.8 million to Pamela M. Williams through the entity Gregory Hotel Holdings, Inc. for the hotel building (H3) at 8315 4th Avenue in Bay Ridge, Brooklyn. The deal closed on December 22, 2023 and was recorded on January 9, 2024. The property has 42,410 square feet of built space according to a…
The anonymously owned entity 605 E 9th Community Holdings LLC acquired the long-vacant PS 64 school building at 350 East 10th Street in Alphabet City in a transaction valued at $57.3 million from the former owner, Gregg Singer, and his entity 9th & 10th Street L.L.C. Singer had filed to place the property in bankruptcy last year. The new owner bought the debt on the…
Kenneth Griffin’s Citadel Enterprise Americas paid $10 million to Aby Rosen’s RFR Holding as part of an air rights and easement agreement related to Citadel and Vornado Realty Trust’s construction of a supertall, 1.7 million-square-foot office building at 350 Park Avenue in Midtown East, city records show. This purchase comes a few weeks after PincusCo reported that Citadel has a contract with the Roman Catholic…
Mendel Berkowitz’s Borough Developers through the entity One Five Five LLC paid $12 million to Slate Property Group through the entity Hanson Street Propco LLC for the development building (V1) at 155 South Elliott Place in Fort Greene, Brooklyn. On the lot, there is one active new building construction project for a 101-unit, 85,765 square-foot R-2 building. The project was submitted by Borough Developers and…
Mamta Kumar through the entity 290 Wild LLC paid $15.3 million to Vishal Patel through the entity Rupson Of Hyde Park Inc. for the hotel building (H3) at 290 Wild Avenue in Travis-Chelsea, Staten Island. Mamta Kuman bought the adjacent hotel at 300 Wild Avenue for $12.4 million in December 2022. The deal closed on December 11, 2023 and was recorded on January 8, 2024….
A company with anonymous ownership, HW Development 3 LLC, paid $15.9 million to Henegan Construction through the entity Bridget Realty, LLC for the office building (O2) at 250 West 30th Street in Chelsea, Manhattan. Based on the sale price per foot, PincusCo concludes that this is a development sale, but that is not confirmed. The deal closed on December 22, 2023 and was recorded on…
