The New York state-based entity Broadway Capital Partners LLC paid $4.5 million to SMI USA through the entity St 91 Leonard Street LLC for the retail condo at 91 Leonard Street in Tribeca, Manhattan. The expected use is cash flowing. The deal closed on January 9, 2025 and was recorded on March 4, 2025. The property has 12,099 square feet of built space according to…
Sabet Group through the entity 437 E 12 Street LLC paid $9.4 million to the Hessol family through the entity 12th Street Realty for the 38-unit residential walkup building (C7) at 437 East 12th Street in East Village, Manhattan. The expected use is cash flowing. The deal closed on March 3, 2025 and was recorded on March 4, 2025. The property has 18,674 square feet…
Mason Asset Management and Namdar Realty Group through the entity 2300 Broadway Abda LLC paid $9.8 million to Nuveen Real Estate through the entity T-C 2300 Broadway LLC for the retail condo at 225 West 83rd Street in Upper West Side, Manhattan. The expected use is cash flowing. The deal closed on February 26, 2025 and was recorded on March 4, 2025. The property has…
Japan-based TATSUMI Building Synthesis Management Co. paid $10.5 million to Jacob Fulop through the entity 93rd Lofts LLC for the 20-unit residential walkup building (C1) at 322 East 93rd Street in Yorkville, Manhattan. The expected use is cash flowing. The deal closed on February 28, 2025 and was recorded on March 4, 2025. The property has 8,390 square feet of built space and 1,686 square…
The entity 287 Prop LLC with signatory Jonathan Rubin paid $11.2 million through a real estate owned process to former lender Community Preservation Corporation through the entity 287a McGuinness Holding LLC for three 10-unit residential walkup buildings (C1) at 287, 293 and 299 McGuinness Boulevard in Greenpoint, Brooklyn. The expected use is cash flowing. The deal closed on February 28, 2025 and was recorded on…
UPDATED 2:15 p.m., March 5, 2025: Prosper Property Group and Urban Capital Group through the entity Walker Street Owner LLC paid $11.6 million to Alan Katz and Ronald Katz through the entity Eltibe Realty Corp. for the mixed-use building (K4) at 34 Walker Street in Tribeca, Manhattan. The expected use is redevelopment. On the lot, there is one active major alteration construction project, M01049846, for…
Lender Kairos Investment Management through the entity Kairos Friars Club RE LLC acquired through a judicial foreclosure from the Friars Club through the entity Friars National Association Inc., the specialty building (P9) at 57 East 55th Street in Midtown East, Manhattan. The transfer value was $15.5 million, which in a foreclosure sale is often the judgment amount, not the actual market value. The deal closed…
Raymond Chau, with a Brooklyn address, through the entity Hammertime W28 Street LLC paid $49.9 million to Han’s Holdings Group through the entity Han’s 28 Hospitality LLC for the hotel building (H2) at 121 West 28th Street in Chelsea, Manhattan. The expected use is cash flowing. The deal closed on February 27, 2025 and was recorded on March 4, 2025. The property has 71,500 square…
This is a preliminary analysis which will be updated at some point.
Simon Kaufman through the entity 159 Third Realty LLC as borrower signed a new construction loan with lender Greystone & Co. through the entity Greystone Servicing Company LLC valued at $36.4 million for the 92-unit development site (V1) at 556 Baltic Street, also known as 159 3rd Avenue, in Gowanus, Brooklyn. On the lot, there is an active new building project, B00678425, for a 92-unit,…
InSite Property Group through the entity 609-615 W 46th St LLC as borrower signed a new construction loan with lender Wells Fargo valued at $40.8 million for a storage development project at 609 West 46th Street in Hell’s Kitchen, Manhattan. On the lot, there is one active new building construction project, M00741415, for a 107,130 square-foot storage (S-1) building. The project was submitted by InSite…
WellLife Network and Richman Group through the entity White Plains Road Apartments LLC as borrower signed a new construction loan with lender NYS Housing Finance Agency, NYS Homeless Housing and Assistance Corporation, and JPMorgan Chase valued at $74 million for the 136-unit development at 3663 White Plains Road in Olinville, Bronx. On the lot, there is one active new building construction project, X00902721, for a…
The entity 751 President LLC paid $3.2 million to Bari Lepelstat through the entity 751 President Street LLC for the four-unit building (C3) at 751 President Street in Park Slope, Brooklyn. The expected use is cash flowing. The deal closed on February 26, 2025 and was recorded on March 3, 2025. The property has 5,986 square feet of built space according to a PincusCo analysis…
The entity 294 Degraw L.L.C. paid $4.8 million to the Musarella family for the four-unit building (C3) at 294 Degraw Street in Carroll Gardens, Brooklyn. The deal closed on February 12, 2025 and was recorded on March 3, 2025. The property has 2,850 square feet of built space and 2,150 square feet of additional air rights for a total buildable of 5,000 square feet according…
The entity 1211 Fulton St Realty LLC using the address and suite often used by Joel Schwartz, paid $6.9 million to Vision Development through the entity 1211 Fulton Property LLC for the development site at 12-11 to 1213 Fulton Street in Bedford Stuyvesant, Brooklyn. The expected use is ground up development. On these lots, there is one active new building construction project, 321596858, for a…
UPDATED 10:55 a.m., March 4, 2025: The pension giant Teacher Insurance Annuity Association, known as TIAA, which owns the fee below the commercial building 2 Herald Square in Manhattan, alleges in a complaint file yesterday that the ground lease tenant SL Green Realty owes $16 million in back rent, $8 million in taxes, and other amounts, totaling $30 million, over the past year. Because of…
Jacob Ganzfried through the entity 2183-2187 Ocean LLC as borrower signed a new construction loan with lender Popular Bank valued at $13 million for a 37-unit development at 2183-2187 Ocean Avenue in Sheepshead Bay, Brooklyn. On these lots, there is one active new building construction project, B01008423, for a 37-unit, 24,943 square-foot residential (R-2) building. The project was submitted by Jacob Ganzfried with plans filed…
Avdoo & Partners Development through the entity Cobble Hill Owner LLC as borrower signed a refi loan with lender Valley National Bank valued at $14.8 million for the development site (V1) at 110 Boerum Place in Boerum Hill, Brooklyn. The deal closed on February 20, 2025 and was recorded on February 28, 2025. The prior lender was Blackstone Group which held debt that had an…
Hershy Silberstein through the entity Sackett Apartments LLC paid $16.5 million to Slate Property Group through the entity 224 Third Ave Owner LLC for the industrial building (G2) at 224 3rd Avenue in Gowanus, Brooklyn. The expected use is ground up development. On the lot, there is one active new building construction project, B00727869, for a 67-unit, 47,148 square-foot residential (R-2) building. The project was…
Wildflower Ltd. through the entity WF Industrial X LLC paid $35.8 million to The New York Times Company through the entity NYT College Point LLC for the property at 28-10 Whitestone Expressway in College Point, Queens. The expected use is cash flowing. Wildflower already controlled the site and developed a three-story warehouse. The deal closed on February 21, 2025 and was recorded on February 28,…
