An unknown buyer through the entity 715 RIV MC LLC paid $8.7 million to Martin Levine and David Levine through the entity 715 Riverside Drive L.L.C. for the 47-unit residential elevator building (D1) at 715 Riverside Drive in Harlem, Manhattan. The expected use is cash flowing. The deal closed on August 15, 2024 and was recorded on August 22, 2024. The property has 65,050 square…
Maheshchand Ratanji through the entity Essence Hotel LLC paid $9.2 million to the former lender, a securitized trust through the entity Dbjpm 2017-C6 611 Degraw LLC, for the hotel building (H3) at 611 Degraw Street in Gowanus, Brooklyn. This was a real estate owned transaction and the expected use is cash flowing. The deal closed on August 15, 2024 and was recorded on August 22,…
The nonprofit United Jewish Appeal-Federation paid $10.9 million to the Leser Group through the entity 13 59&60th Building LLC for the office building (O5) at 1271 60th Street in Borough Park, Brooklyn. The expected use is owner-occupied. The deal closed on August 16, 2024 and was recorded on August 22, 2024. The property has 13,600 square feet of built space according to a PincusCo analysis…
New York University paid $69.2 million to Sherwood Equities and Arun Bhatia Development Organization through the entity Cooper And 6th Property LLC for the dormitory building (H8) at 35 Cooper Square in East Village, Manhattan. The expected use is owner-occupied. The dormitory building was net leased to Marymount Manhattan College, but that agreement was terminated a month prior to the sale, city records show. Crain’s…
Rybak Development through the entity 660 Lexington Avenue Development LLC as borrower signed a new construction loan with lender Emerald Creek Capital through the entity Emerald Creek Capital 3, LLC valued at $52 million for the 31-unit condominium development at 660 Lexington Avenue in Midtown East, Manhattan. On the lot, there is one active new building construction project, M08028413, for a 31-unit, 52,378 square-foot residential…
Benderson Development through the entity Palmetto Hospitality Of Manhattan II, LLC as borrower signed a refi loan with lender Guggenheim Partners through the entity Guggenheim Real Estate, LLC valued at $54 million for the hotel building (H2) at 220 West 41st Street in Garment District, Manhattan. The deal closed on August 15, 2024 and was recorded on August 21, 2024. The prior lender was Bank…
Yitzchok Katz through the entity 39th Ave Holdings 1 LLC as borrower signed a refi loan with lender Affinius Capital through the entity SM Finance III LLC valued at $78.4 million for two adjacent new development projects including the 64-unit 38-38 32nd Street and the 52-unit at 32-03 39th Avenue in Long Island City, Queen. The deal closed on August 15, 2024 and was recorded…
East Group Capital through the entity 2 West 16th Owner LLC paid $9.1 million to Vista Real Estate, Inc. for the 13-unit residential walkup building (C5) at 2 West 16th Street in Flatiron District, Manhattan. The expected use is cash flowing. The deal closed on August 8, 2024 and was recorded on August 21, 2024. The property has 12,750 square feet of built space and…
JPMorgan Chase in partnership with Hines paid $320.2 million to AEW Capital Management through the entity 250 Park Avenue, LLC for the office building (O9) at 250 Park Avenue in Midtown East, Manhattan. The expected use is cash flowing. The Commercial Observer reported on the deal, following a story in Bloomberg. 250 Park Avenue is across East 47th Street from 270 Park Avenue, which JPMorgan…
Turret Equities, led by David E. Dweck, through the entity NYC TH Share Holder LLC, bought a note with an original principal of $15.5 million from Goodman Capital secured by Jeffrey M. Krauss’s nine-unit residential elevator townhouse (D4) at 7 East 88th Street in Carnegie Hill, Manhattan. Carrie Chiang of the Corcoran Group is marketing the building for $18.8 million as a potential single-family home…
An affiliate of Greystone & Co. filed a $28 million pre-foreclosure action at Berel Farkas-led Lightstone Management‘s 200 Linden Boulevard, a 69-unit elevator apartment building in East Flatbush, Brooklyn. The lender filed the complaint on August 21, 2024, in New York State Supreme Court in Brooklyn, alleging a maturity default, among other allegations. Court filings represent the position of one party and are not necessarily…
An affiliate of ASLD Realty as well as and Dime Community Bank, filed an $11.9 million pre-foreclosure action at the Tim Ziss-led Allied Properties’ under-construction office building at 437 88th Street in Bay Ridge, Brooklyn, in State Supreme Court in Brooklyn yesterday. The developer has applied for a certificate of occupancy but the city has not yet issued one. Tim Ziss’s Allied Properties bought the…
Kaushik Patel through the entity Melrose Hotel LLC as borrower signed an initial loan with lender Parke Bank valued at $6.8 million for the under construction, 70-room hotel building (H3) at 290 East 150th Street in Melrose, Bronx. On the lot, there is one active new building construction project, 210180999, for a 70-unit, 22,031 square-foot hotel (R-1) building. The project was submitted by Kaushik Patel…
Hampshire Properties through the entity One Nostrand Center LLC as borrower signed a refi loan with lender MF1 Capital valued at $24 million for the 59-unit, 66,835-square-foot building at 2339 Nostrand Avenue in Flatlands, Brooklyn. On the lot, there was one new building construction project, 321595653, for a 59-unit, 51,111 square-foot R-2 building. The project was submitted by Hampshire Properties and filed by Robert Rosenthal…
Israel Weiss through the entity 139 S 8th St LLC paid $2.3 million to Aron Taub through the entity Nora Nj LLC for the four-unit building (C3) at 139 South 8th Street in Williamsburg, Brooklyn. The expected use is cash flowing. The deal closed on July 29, 2024 and was recorded on August 20, 2024. The property has 6,494 square feet of built space according…
GW Equities, led by Berish Wagschal and Avraham Garbo through the entity GW Russell LLC paid $4.7 million to the Evangelical Lutheran Church in America through the entity MNYS 129 Russell LLC for the Park Church Co-Op building (M1) at 129 Russell Street in Greenpoint, Brooklyn. The expected use is conversion and alteration. The building faces McGolrick Park. GW Equities obtained a $7.6 million acquisition…
Developer Type A Projects and Settlement Housing Fund through the entities 1250 Willoughby Manager LLC 1250 Willoughby Housing Development Fund Corp. paid $7 million to Community Developers through the entity 3210 Willoughby LLC for the industrial building (G7) at 1250 Willoughby Avenue in Bushwick, Brooklyn, industrial building (G7) at 1252 Willoughby Avenue in Bushwick, Brooklyn, and industrial building (G7) at 1254 Willoughby Avenue in Bushwick, Brooklyn….
Spatial Equity Co. and Community Access through the entity St Emeric Development I Housing Development paid $35 million to the Roman Catholic Church of Saint Brigid and Saint Emeric at 181 Avenue D in the East Village, Manhattan. The expected use is ground up development. The deal closed on July 30, 2024 and was recorded on August 20, 2024. The signatory for the Roman Catholic…
An affiliate of real estate investment firm 7G Group, the entity 7G 123 Lafayette LLC, filed a $14.9 million pre-foreclosure action at the five-story office building at 123 Lafayette Street in Little Italy, Manhattan, yesterday in New York State Supreme Court. An affiliate of First Atlantic Capital bought the building in 2016 for $33.5 million from Stellar Management. Signature Bank provided a $16 million loan…
Edelstein Development Group through the entity 1777 Weeks Ave LLC as borrower signed a refi loan with lender BridgeCity Capital through the entity BCC Funding II LLC valued at $11.5 million for the 34,272-square-foot, 45-unit newly built apartment building at 1777 Weeks Avenue in Mt Hope, Bronx. The building is divided into three commercial condominium units. The deal closed on August 2, 2024 and was…
