Transfers

Four Kalimian-Amirian portfolio lawsuits settled: Four long-running lawsuits related to disputes over the management of portions of a large portfolio owned by members of the Kalimian and Amirian families have been settled or otherwise disposed of, the most recent ending yesterday. The lawsuits generally revolved around management of assets in the portfolio. For example in one lawsuit, 654615/2022, filed in December 2022, related to 259…

Carlyle Group and Sabharwal Properties through the entity 72 Caton Place Owner, L.L.C. as borrower signed a refi loan with lender Prudential Financial through the entity PGIM Real Estate U.S. Debt Fund REIT, LLC valued at $71 million for the storage building (E7) at 72 Caton Place in Windsor Terrace, Brooklyn. The deal closed on March 27, 2024 and was recorded on May 8, 2024….

BWH Group through the entity 1667 Sheepshead Bay LLC paid $8 million to Ianthe Kallas-Bortz through the entity 1667 Realty Holding LLC for the development site (V1) at 1667 Sheepshead Bay Road in Sheepshead Bay, Brooklyn. On the lot, there was one active major alteration construction project for a 41,366 square-foot B building. The project was submitted by Ianthe Kallas-Bortz with plans filed September 23,…

In another in a series of dozens of similar transactions, Greenbrook Partners recapitalized two rental properties it had previously acquired with other investors, and sold them to Carlyle Group. As in the previous sales, Greenbrook Partners remains in the deal. In the latest two transactions, Carlyle Group with Greenbrook Partners recapitalized adjacent rental buildings in Park Slope, Brooklyn, 784 and 786 President Street for, $17.8…

Golden Bridge Funding filed a $16.8 million pre-foreclosure filing in Queens State Supreme Court yesterday, alleging the loan given in 2022 and secured by a 19-unit condominium project at 21-01 21st Street, in Astoria, Queens, is in payment and maturity defaults. The property is being developed by Halil Todic, who is the principal of the condominium plan and a signatory for the loans and Barry…

Zheng Sheng Zheng through the entity 146-26 Property Holding LLC paid $7.9 million to Tricap through the entity BCR Associates for the retail building and parking lot (K1) at 146-26 Northern Boulevard in Flushing, Queens. Based on the price per square foot, PincusCo infers this is a development site. The deal closed on April 29, 2024 and was recorded on May 7, 2024. The property…

A referee scheduled a foreclosure auction on May 29, for ATCO Properties & Management’s 165,000-square-foot office building at 240 West 35th Street in the Garment District, Manhattan, with a total judgment of $74.7 million, the notice of sale published yesterday, shows. The sale is planned for 2:15 p.m. in room 130 in the New York County Courthouse in Lower Manhattan. This is the third large…

Arkview Capital, an investment firm with holdings including Icon Parking, through the entity C2jm Holdings LLC paid $4.5 million for a bankrupt Flushing, Queens, parking garage condominium unit at 37-20 Prince Street at an auction held December 7, 2023 at the Midtown offices of the debtor, an affiliate of the Washington, D.C.-based Invictus Capital Partners. On the same day, Xiao Jun Chen through the entity…

The Korean firm KTB Asset Management which holds $205 million in 2017 mezzanine debt secured by an equity interest in RFR Holding’s 285 Madison Avenue, alleges RFR Holding principals Aby Rosen and Michael Fuchs have defaulted on a set of payments related to the loan, and together owe $1.5 million. The allegations were made in a complaint and related documents the lender filed yesterday in…