Columbia Pacific Advisors alleges defaults in loans it made starting in December 2021 that ultimately totaled $56.9 million, that were secured by Gary Segal’s equity interest in the Dynamic Star entity that owns the commercial development site 23-10 Queens Plaza South in Long Island City, Queens. Columbia Pacific scheduled a UCC auction for May 9, but in this action, the lender is seeking to enforce…
Altmark Group through the entity 122 Bruckner Development LLC as borrower signed a refi loan with lender Metropolitan Commercial Bank through the entity Metropolitan Commercial Bank valued at $9.8 million for three properties including the industrial building (G9) at 517 East 132nd Street in Mott Haven, Bronx, industrial building (F5) at 519 East 132nd Street in Mott Haven, Bronx, and specialty building (Z9) at 122…
Developer GW Equities through the entity Bh 7502 Management Elmhurst LLC paid $4 million through an estate sale to Dominic Panuccio through the entity Kadar Realty Corp. for the specialty building (W8) at 75-02 51st Avenue in Maspeth, Queens. The deal closed on February 24, 2025 and was recorded on March 11, 2025. The property has 10,140 square feet of built space and 4,752 square…
Fannie Mae filed a $34.7 million pre-foreclosure action alleging a loan secured by three Astoria rentals with 119 units at 21-80 38th Street, 23-05 30th Avenue and 23-15 30th Avenue were in maturity and additional defaults. The lender filed the case in U.S. District Court in Brooklyn on March 12, 2025. Rajmattie Persaud was the signatory for the loans provided to the borrower entity, KRCM…
A&E Real Estate Holdings, among the top three largest private residential owners in the city, according to a PincusCo accounting, paid $116.5 million to Stefan Soloviev’s Soloviev Group, for the 179-unit Rivers Bend apartment building at 501 East 87th Street in Yorkville, Manhattan, according to sources familiar with the deal. The sale closed March 12, 2025, and has not yet been recorded. The purchase equates…
Dalan Real Estate filed four pre-foreclosure actions on Monday and Tuesday alleging defaults in four loans covering six Manhattan rental properties Croman Real Estate owns that have a combined debt of $27.5 million. The actions were filed in New York State Supreme Court on March 10 and 11, 2025. The complaints allege maturity defaults in two of the loans, and allege technical defaults in the…
Hershy Silberstein through the entity Cyh Weeks Ave LLC as borrower signed a loan with lender Valley National Bank valued at $19.6 million for the 68-unit residential elevator building (D1) at 1688 Weeks Avenue in Claremont Village, Bronx. The deal closed on February 28, 2025 and was recorded on March 11, 2025. The prior lender was Balbec Capital which held debt that had an original…
MZS Realty through the entity Cromwood Tower LLC paid $4.6 million to Monarch Realty Holdings through the entity Cromwell Avenue Investors LLC for the specialty building (Z9) at 1408 Cromwell Avenue in Mt Eden, Bronx. The expected use is ground up development. The deal closed on February 28, 2025 and was recorded on March 11, 2025. The property has zero square feet of built space…
Carlyle Group and Greenbrook Partners through the entity Townhouse Rental II, L.L.C. paid $5.1 million to Rubin Equities through the entity 138 Schaefer St LLC for the eight-unit residential walkup building (C1) at 138 Schaefer Street in Bushwick, Brooklyn. The expected use is cash flowing. The deal closed on March 3, 2025 and was recorded on March 11, 2025. The property has 7,410 square feet…
Meals on Wheels of Staten Island paid $10 million to Richard Masucci through the entity 2629 Forest Avenue LLC for the retail building (K6) at 2645 Forest Avenue in Bloomfield, Staten Island. The expected use is owner-occupied. The deal closed on February 20, 2025 and was recorded on March 11, 2025. The property has 25,788 square feet of built space and 436,287 square feet of…
Extell Development through the entity East 60th Townhouses LLC paid $103.3 million to the Sol Goldman family’s Solil Management through the entity 33-39 East 60th Street LLC for the 16-unit residential elevator building (D9) at 35 East 60th Street, the three-unit mixed-use building (S9) at 37 East 60th Street, and the six-unit mixed-use building (S5) at 39 East 60th Street, adjacent buildings in Lenox Hill,…
Broadfield Realty Capital through the entity Jericho Turnpike 1 LLC bought a note with an original principal of $23.5 million from Madison Realty Capital secured by AB Capstone’s office building (O5) at 251-77 Jericho Turnpike in Bellerose Manor, Queens. The deal closed on January 23, 2025 and was recorded on March 7, 2025. The prior lender was Madison Realty Capital which held debt that had…
Fred Ohebshalom’s Gatsby Enterprises through the entity Rea Realty 1 LLC as borrower signed a refi loan with lender Amalgamated Bank valued at $15 million for the 48-unit residential elevator building (D7) at 176 East Third Street in Alphabet City, Manhattan. The deal closed on February 26, 2025 and was recorded on March 10, 2025. The prior lender was Capital One which held debt that…
Gary Spindler’s Park-It Management through the entity Wash-Clark Holdings LLC as borrower signed a refi loan with lender TD Bank valued at $15.2 million for the garage building (G1) at 575 Washington Street in West Village, Manhattan. The deal closed on February 12, 2025 and was recorded on March 10, 2025. The prior lender was Flagstar Bank which held debt that had an original loan…
Legion Investment Group and Gindi Capital through the entity Gramercy 252 Owner LLC as borrower signed a new construction loan with lender BDT & MSD Partners through the entity MSD RCOF Partners CXIII, LLC valued at $124.8 million for a development project at 252 Third Avenue, at the corner of 21st Street, in Gramercy, Manhattan. On these lots, there are two new building construction projects….
Project FIND through the entity PF 123rd Street LLC paid $5.2 million to Rivka Frieman-Platt through the entity Pl 123 Realty Group LLC for the vacant lots (G7) at 104 and 106 East 123rd Street in East Harlem, Manhattan. The expected use is ground up development. The deal closed on February 13, 2025 and was recorded on March 10, 2025. The two properties have zero…
Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $5.5 million to Greenbrook Partners through the entity 125 St James Pl, LLC to buy a stake in the eight-unit residential walkup building (C1) at 125 St James Place in Clinton Hill, Brooklyn. The expected use is cash flowing. Greenbrook Partners remains an equity partner and the operator. The deal closed on February 28, 2025…
Fereydoun Khalili and KP Developers through the entity 2682 LLC paid $11.4 million to Vision Enterprises Management through the entity 82 Associates LLC for the office building (O5) at 37-02 82nd Street in Jackson Heights, Queens. The expected use is cash flowing. The deal closed on March 4, 2025 and was recorded on March 10, 2025. The property has 27,324 square feet of built space…
The entity 53 Beach Street LLC, affiliated with attorneys Terrence Oved and Darren Oved, acquired the office building (O3) at 53 Beach Street in Tribeca, Manhattan, in a transaction valued at $34.7 million. The former owners of the building are Justin Ehrlich and his father Steven, and the family of and Harold and Eric Wegweiser, which owned the property through the entity Wegweiser and Ehrlich…
Prosper Property Group and Urban Capital Group through the entity Walker Street Owner LLC as borrower signed a rehab construction loan with lenders Klirmark Capital and Kriss Capital through the entity KM Walkers Street US Financing US LP valued at $32 million for the development of five condominium units and retail at 32-34 Walker Street in Tribeca, Manhattan. On these lots, there is one active…
