LNR Partners, on behalf of a securitized trust, Series 2021-C12, filed a pre-foreclosure action against the owners of two Jackson Heights, Queens, walkups with a total of 58 units, at 33-54 83rd Street and 33-53 82nd Street, alleging payment defaults since early 2023. The property owners include HC Equities, Saliman Coy and Ginny Werner. The owners acquired the building in October 2021 for $17.1 million,…
A borrower affiliated with a large multifamily portfolio with two maturing loans totaling $9.875 million, alleges Rialto Capital Advisors, which is servicing the former Signature Bank loans for Blackstone Group, has imposed onerous conditions on loan extensions, contrary to the mortgage agreements. Case LINK Court filings represent the position of one party and are not necessarily accurate or complete. Rialto did not immediately respond to…
Oaktree Capital Management through the entity Senior 111 Wall Grand Avenue Partners LLC bought a note with an original principal of $230 million from PIMCO secured by InterVest Capital Partners’ office building (O4) at 111 Wall Street in Financial District, Manhattan. Oaktree already owned a $100 million mezzanine loan, and had scheduled a UCC auction for September 2023, according to reports at the time. The…
Stagg Group through the entity 4435 White Plains Road LLC as borrower signed a refi loan with lender Berkadia Commercial Mortgage through the entity Berkadia Commercial Mortgage LLC valued at $24.2 million for the 82-unit residential elevator building (D7) at 4435 White Plains Road in Wakefield, Bronx. The deal closed on October 1, 2024 and was recorded on November 8, 2024. The prior lender was…
Vilson Lumaj through the entity V. Gun Hill Tower LLC as borrower signed a new construction loan with lender NorthEast Community Bank valued at $25 million for the 99-unit project at 3556 Holland Avenue in Williamsbridge, Bronx. On the lot, there is one active new building construction project, X00895492, for a 99-unit, 70,237 square-foot R-2 building. The project was submitted by Vilson Lumaj and filed…
American Realty Advisors through the entity Hudson Bowery Connection LLC as borrower signed a refi loan with lender Bank of China valued at $210 million for two properties with 361 residential units including the 361-unit, 340,072-square-foot rental condo at 229 Chrystie Street and the 84,173-square-foot retail condo at 95 East Houston Street in Lower East Side, Manhattan. Both condo units are in the same building….
Stephen L. Green, the 86-year-old namesake to the large real estate investment trust SL Green Realty, sold a small retail condominium unit near Union Square for $4.5 million which be purchased just a few weeks shy of 40 years ago. Bernice Monaim, of the clothing store Richina Apparel through the entity 5 E16 RT LLC paid $4.5 million to Stephen L. Green through the entity…
Royal Waste Services through the entity Royal Brothers Bronx Realty LLC paid $7.8 million to Syh Kuern Chen through the entity Productive Realty NY, LLC for the industrial building (E1) at 187-62 Hollis Avenue in Hollis, Queens. The expected use is owner-occupied. Royal Waste Services owns the large adjacent 62,616-square-foot lot, 187-40 Hollis Avenue. This is the firm’s second purchase that closed in October. The…
Edward Shllaku through the entity 99-44 62nd Realty LLC paid $8 million to Kassin Sabbagh Realty through the entity 99-44 62 LLC for the 62-unit residential elevator building (D1) at 99-44 62nd Avenue in Rego Park, Queens. The expected use is cash flowing. KSR acquired the building in April from the Golyan family’s Golyan Enterprises through a bankruptcy auction, as the lender using a $5…
Lalezarian Properties through the entity 569 3rd Avenue LLC paid $10.4 million to the Mossanen Group through the entity East 37th Street LLC, to transfer air rights from the 48-unit residential building (D3) at 207 East 37th Street and the 34-unit residential building (D3) at 213 East 37th Street, to the three-parcel, mid-block development site at 569 Third Avenue, all in Murray Hill, Manhattan. On…
Sotheby’s through the entity 945 Madison Avenue, LLC paid $100 million to the Whitney Museum of American Art for the museum building (P7) at 945 Madison Avenue in Lenox Hill, Manhattan. The expected use is owner-occupied. The auction house plans to make the Marcel Breuer-designed Brutalist building into its global headquarters. The Whitney is now located in the Meatpacking District. The deal closed on November…
Blackstone Group file two pre-foreclosure actions last week, the larger for a $10.5 million loan secured by RFR Holding’s retail and garage units at 404 East 76th Street in Lenox Hill, and the other for a $7 million loan secured by a real estate investor’s Hell’s Kitchen rental buildings at 334 and 336 West 46th Street with a total of 12 residential units over retail….
Shalev Shoshani and Shlomo Shoshani signed three refinance loans totaling $13.4 million with JPMorgan Chase for retail in Highbridge, Concourse and Mt. Eden, the Bronx, in three separate transactions. In the largest, Shalev Shoshani and Shlomo Shoshani through the entity 1223 Realty Corp. as borrower signed a refi loan with lender JPMorgan Chase through the entity valued at $8.3 million for the retail building (K4)…
Meadow Partners through the entity 1501 8th Avenue Owner LLC (and others) as borrower signed a refi loan with lender Hudson Bay Capital Management through the entity HBC Credit Investments LLC valued at $96 million for 15 properties with 107 residential units including the 24-unit residential walkup building (C7) at 81-83 St. Marks Place in East Village, Manhattan, 13-unit residential walkup building (C7) at 704…
Macerich through the entity Queens Center Spe LLC as borrower signed a refi loan with lender Deutsche Bank through the entity German American Capital Corporation valued at $525 million for six properties composing the Queens Center mall, including the mixed-use building (K6) at 90-15 Queens Boulevard in Elmhurst, Queens, mixed-use building (K6) at 57-15 92nd Street in Elmhurst, Queens, and retail building (K6) at 58-06…
Greg Sun was the signatory for the entity 547 Management LLC that paid $4.8 million to Aegina Angeliades through the entity 547 Realty LLC for the office building (O5) at 5-47 47th Road in Long Island City, Queens. The expected use is cash flowing. The deal closed on October 1, 2024 and was recorded on November 7, 2024. The property has 8,025 square feet of…
Steve Samandarov through the entity Smd Bowery Street LLC paid $5.5 million to Rwn Real Estate Partners through the entity Noho Associates LLC for the east retail condo at 57 Bond Street in NoHo, Manhattan. The expected use is cash flowing. The deal closed on October 30, 2024 and was recorded on November 7, 2024. The property has 3,871 square feet of built space according…
Namdar Realty Group and Klosed Properties through the entity 20 E 46 Bh LLC acquired through an assignment-in-lieu of foreclosure from Nightingale Properties through the entity Ng Crown 20 E. 46th St LLC, the ground lease controlling the office building (O6) at 20 East 46th Street in Grand Central, Manhattan, in a $10.4 million transfer. The expected use is cash flowing. Namdar Realty Group and…
Ian Schrager through the entity 215 Chrystie Mezz I LLC acquired an interest from the existing ownership of the hotel, through the entity 215 Chrystie Mezz LLC valued at $173.75 million for Public Hotel condo at 215 Chrystie Street in the Lower East Side, Manhattan. This is an entity level transfer. In this highly litigated case, a UCC auction was scheduled for September 6, 2024….
An affiliate of lender Greystone & Co. was the highest bidder at a September auction in Brooklyn, winning control of the 55-unit rental building at 271 Lenox Road in East Flatbush, from Eli Karp’s development company Hello Living that had a total judgment of $44.98 million, according to a filing with the New York State Supreme Court. Greystone through the entity 271 Lenox Property LLC…
