Emily Wang through the entity Great Front Realty Corp. paid $4.2 million to Kim Kun Ma through the entity Ma88 LLC for the four-unit mixed-use building (S4) at 141 Allen Street in Lower East Side, Manhattan. The expected use is cash flowing. The deal closed on August 7, 2024 and was recorded on August 12, 2024. The property has 6,300 square feet of built space…
The note buyer JY Capital Group through the entity JY Citizen L.P. acquired the 35-unit residential walkup building (C1) at 333 East 150th Street in Melrose, Bronx. The expected use is cash flowing. JY Citizen L.P. made a credit bid of $1,000 on a judgment of $5 million resulting from a defaulted $2.87 million loan. The prior owner was Earl L. Bailey Jr. whose interest…
Albanese Organization as a tenant through the entity 450 Bedford Park Blvd Bronx, LLC, signed a 99-year ground lease with the New York Botanical Garden as landlord through the entity Bedford Gardens Bronx, LLC for the development site at 450 Bedford Park Bouleverd, in Fordham Manor, Bronx. The expected use is ground up development. The city valued the ground lease at $15.2 million for tax…
Howard Hughes Corporation through the entity 250 Seaport District, LLC paid $40 million for air rights from the City of New York for its skyscraper 250 Water Street, in the Financial District, Manhattan. Howard Hughes filed plans under the job number M00632762, for a new building calling for a 399-unit, 546,975 square-foot residential (R-2) building submitted on December 8, 2021. The deal closed on August…
Blackstone Group, as the holder of a $20.25 million loan initially provided by Signature Bank, filed a pre-foreclosure action August 8, 2024, alleging the loan secured by eight retail condominium units in 122 Greenwich Avenue in the West Village of Manhattan, was in default. The lender filed the complaint in New York State Supreme Court in Manhattan. This is the fifth pre-foreclosure case filed against…
UPDATED 6:20 p.m., August 13, 2024: Endi Ulaj of Innovative Development through the entity 390 Mosholu LLC as borrower signed a refi loan with lender Wells Fargo valued at $18.2 million for the 52-unit residential elevator building (D1) at 390 East Mosholu Parkway South in Bedford Park, Bronx. The deal closed on August 2, 2024 and was recorded on August 9, 2024. The prior lender…
Townhouse Management Company through the entity 39-37-35 East 63rd Residential LLC as borrower signed a refi loan with lender Derby Copeland Capital through the entity CF Dcope Atls LLC valued at $18.9 million for the eight-unit rental condo at 35 East 63rd Street in Lenox Hill, Manhattan. The deal closed on August 6, 2024 and was recorded on August 9, 2024. The prior lender was…
The China-based Han’s Holding Group through the entity Han’s 28 Hospitality LLC as borrower with Peter Pingzhi Wu as signatory, signed a refi loan with lender Citibank valued at $24 million for the hotel building (H2) at 121 West 28th Street in Chelsea, Manhattan. The deal closed on July 31, 2024 and was recorded on August 9, 2024. The prior lender was Citibank which held…
Jawad Lakhani through the entity 357 Leonard St, LLC paid $2.8 million to Michael Durso through the entity D’Urso Family Irrevocable Trust for the six-unit residential walkup building (C2) at 357 Leonard Street in Williamsburg, Brooklyn. The expected use is cash flowing. The deal closed on July 31, 2024 and was recorded on August 9, 2024. The property has 4,875 square feet of built space…
Innovative Resources for Independence through the entity Iri: Innovative Resources For Independence, Inc. paid $5.2 million to Carol Stougo through the entity 1105 First Associates, LLC for the retail building (K1) at 65-35 Woodhaven Boulevard in Rego Park, Queens. The expected use is cash flowing. The deal closed on July 31, 2024 and was recorded on August 9, 2024. The property has 9,548 square feet…
Prosper Property Group, Zuccarello Zerillo & Company, and GRA Equities through the entity 57 Will Owner LLC paid $48 million to Meadow Partners through the entity 57 Will Property LLC for the office building (O5) at 57 Willoughby Street in Downtown Brooklyn, Brooklyn. The expected use is cash flowing. The deal closed on July 31, 2024 and was recorded on August 9, 2024. The property…
Premier Equities, led by Uzi Ben Abraham and Yaron Jacobi, through the entity Premier 39-09 Main Street, LLC signed a contract as buyer with Riesenburger Properties as seller to purchase the retail building (K2) at 39-09 to 39-11 Main Street in Flushing, Queens. The expected use is cash flowing. The price was not disclosed in the document filed with the city. The memorandum of contract…
The Nagin family’s Superior Management through the entity Luminous Condo LLC paid $7.2 million to Jessica Ronson-Jones through the entity Waverly Bldg. One LLC for the six-unit residential walkup building (C5) at 156 Waverly Place in Greenwich Village, Manhattan. The expected use is cash flowing. The purchase adds to the company’s large holdings in the area. The deal closed on July 31, 2024 and was…
Hee Nam Bae, who in May sold three buildings for $50.1 million, paid $12 million to Kemal Ilgar Peker and Ahmet Yildizel through the entity 386 Third LLC for the mixed-use building (K2) at 386 Third Avenue just south of 28th Street, in Kips Bay, Manhattan. The expected use is cash flowing. Hee Nam Bae bought the building through the entity City Lights Properties LLC….
The Elghanayan family’s TF Cornerstone paid $174.1 million to Jack Guttman‘s Pearl Realty Management for two development sites, 57 West Street and 24 Oak Street, on the Greenpoint waterfront in two separate transactions. In the first, TF Cornerstone through the entity 2 Noble North LLC paid $144.1 million to Pearl Realty Management through the entity 57 West LLC for the vacant lot at 43 West…
Joseph Sutton and Gorjian Real Estate Group through the entity 371 Broome Street LLC paid $12.8 million to Jackson Mak through the entity Good Luck Realty Corp. for the 30-unit residential walkup building (C7) at 373 Broome Street at the corner of Mott Street, in Little Italy, Manhattan. The expected use is cash flowing. The deal closed on August 2, 2024 and was recorded on…
The special servicer for $55 million in debt secured by Winter Properties 10-story commercial loft building at 57-59 East 11th Street in Greenwich Village, Manhattan, alleged the loan is in default. The servicer, LNR Partners, filed the pre-foreclosure action yesterday in New York State Supreme Court in Manhattan. Case LINK Court filings represent the position of one party and are not necessarily accurate or complete….
A Blackstone Group affiliate filed a pre-foreclosure action yesterday in Brooklyn alleging a $45.3 million loan Signature Bank gave in January 2023 to the owners of 6208 8th Avenue in Sunset Park, Brooklyn, including Watermark Capital Group, is now in default. There is currently a job application B00754062 for a 497-unit, 646,443-square-foot mixed-use tower at the property with the addresses 6128 8th Avenue and 6202…
UPDATED 2:25 p.m., August 12, 2024: Mortar Group through the entity Npl Mortar Owner LLC as borrower signed a refi loan with lender Hirshmark Capital through the entity 1132 31 Ave Funding LLC valued at $18 million for the 29-unit building at 11-32 31st Avenue in Astoria, Queens. On the lot, there is one active new building construction project, 421133295, for a 29-unit, 29,900 square-foot…
Safehold Inc. through the entity 500 West 23rd Street Ground Owner LLC as borrower signed an initial loan with lender John Hancock Life Insurance through the entity John Hancock Life Insurance Company (U.S.A.) valued at $20.6 million for the 111-unit residential elevator building (D8) at 500 West 23rd Street in Chelsea, Manhattan. Safehold Inc. is the fee owner, Equity Residential is the ground lessor. The…
