Buildings for Sale:
- Tishman Speyer is marketing the fee simple interest in 6 Grand Central, a 770,000-square-foot office tower near Grand Central Terminal, for approximately $450 million — about $584 per square foot.
- China Life Insurance Group is selling its minority stake in the 1285 Sixth Avenue office tower, seeking a valuation of $1.4 billion.
- The $108 million mortgage for the Harlem USA shopping center was transferred to special servicing due to an imminent risk of monetary default; the loan is set to mature in early October. The shopping center at 300 West 125th Street continues to struggle with a 26 percent vacancy rate.
- Wells Fargo is seeking to foreclose on eight retail units (40,000 sq ft) at 633 Third Avenue after Joe Nakash defaulted on a matured $32M loan, with Wilmington Trust stating payment was not made despite demand.
- Yitzchak Tessler is facing a foreclosure lawsuit at 260 Park Avenue South from the condo board, which alleges he failed to pay nearly $675,000 in common charges on six commercial units.
- A New York judge ordered the 500-512 Seventh Avenue office towers to be sent to a foreclosure auction. The ownership partnership includes the Chetrits, Moinian, and Minskoff.
- The Davis Companies filed to foreclose on the 345 Seventh Avenue property after Kohan allegedly defaulted on a $73 million loan for the 190,000-square-foot office building.
- A lender has initiated foreclosure proceedings on 10 East 34th Street, a Midtown office building, citing unpaid mortgage payments since April. The 55,000-square-foot property has faced significant vacancies, with occupancy dropping below 30 percent as key tenants stopped paying rent or vacated the space.
- Rialto Capital Advisors filed for foreclosure on the commercial space at 350 West Broadway. Ownership appears to be Joseph Sitt and Elyahu Cohen. The 14,000-square-foot commercial space has been largely vacant since Amazon's AWS Startup Loft vacated.
Buildings Sold:
- 60 Guilders and Sentry Realty bought the office building at 1441 Broadway for $238.2 million, or $436 per square foot. The seller of the 550,000-square-foot, 33-story property was the estate of L.H. Charney. The building is 90 percent leased.
- Empire State Realty Trust sold the 486,000-square-foot office building at 1359 Broadway to Joe Sitt's Thor Equities for $218 million, or $448 per square foot.
- DH Property Holdings sold a 53-acre industrial outdoor storage site at 1900 and 1800 South Avenue on Staten Island to Jadian Capital for $167 million.
- Pinnacle Group sold 743 New York apartments and parking spaces for $128 million. Most of the properties are in Queens, but some were in Brooklyn and Manhattan. Proceeds from the sale will go toward paying off Pinnacle's lender, Axos Capital, and bondholders.
- $90 million for 101 Pennsylvania Avenue in East New York. Brooklyn-based developer Jonas Rudofsky was listed as the seller. Vital Infrastructure Property Trust bought the 140,000-square-foot medical office building.
- Pinnacle Group sold the rental building at 323 West 96th Street to Lightstone Group for $88 million. The contract described a sale of 100 percent of the leasehold on the property and Pinnacle's 50 percent stake in the underlying real estate, for $88 million.
- Longfellow Real Estate Partners sold the Hatch Life Sciences Building at 43-10 23rd Street in Long Island City to Pearl Realty Management for $86.9 million.
- Extell Development, led by Gary Barnett, bought the 73,000-square-foot office building at 110 East 55th Street from the Parkoff Organization for $65 million, adding it to his expanding Midtown assemblage on Park Avenue.
- The one-story building and an adjacent parking lot at 35-10 and 35-18 Steinway Street sold for $53 million. The buyers were LMXD and BedRock Real Estate Partners, who plan to construct a 560-unit, mixed-income project on the site. The seller was an affiliate of King Kullen Grocery Co.
- The New School sold its student residence, Loeb Hall, for $51.5 million to Beverly Hills-based Hawkins Way Capital and its joint venture partner, Varde Capital. Hawkins Way Capital plans to renovate the 286-bed building as part of its "FOUND Study" strategy.
- Terry Semel sold his 7,000-square-foot apartment at 820 Fifth Avenue for $45 million in an off-market transaction.
- An entity tied to Brendan Blumer has bought a megamansion at 48-50 West 69th Street on the Upper West Side for $45 million.
- Lyford Holdings LLC sold a condo, Unit 9C, at the Puck Residences at 295 Lafayette Street for $42 million, or $8,500 per square foot. The buyer of the 5,000-square-foot unit was Two Nine Three Lafayette LLC.
- T&E Development has acquired a development site at 538-542 29th Street for $33.5 million, with plans to construct 76 condo units on the border of West Chelsea and Hudson Yards.
- A 94th-floor penthouse at 432 Park Avenue, formerly owned by the trust of philanthropist Roy T. Eddleman, sold for $22 million.
- The building at 1265 Oak Point Drive sold for $21.6 million. The seller was Oak Point Bergson Realty Corp. A company managed by Gary Jacobs bought it. The one-story building measures 50,000 square feet; the sale breaks down to $430 per square foot.
- iStar sold a development site at 2015 Boardwalk West in Coney Island for $20 million to Nalcorp and David Bistricer's Clipper Equity.
- A six-story office building at 10 East 47th Street sold for $20 million. The property measures 29,000 square feet. The seller was a company managed by Debra Fechter of Digby Management Company, and the buyer was an entity tied to Yosef Elishayev.
- A company tied to Jeffrey Herz sold a penthouse at 224 Mulberry Street for $16.3 million. The buyer was Lucky Acres LLC. The duplex spans 5,600 square feet, bringing the sale price to $2,900 per square foot. The penthouse has four bedrooms.
- $15.5 million for 108 Leonard Street, PHW. The Tribeca new construction unit is 8,800 square feet.
- The industrial property at 133-10 32nd Avenue sold for $15.5 million; the seller was Rinascente Properties. The buyer was a company tied to real estate investor Lap Fung Sun and Ying Ying Lin. The one-story building spans 26,000 square feet and sold for $600 per square foot.
- Anthony LoConte sold a six-story, 15,000-square-foot office building at 81 Court Street in Downtown Brooklyn for $10.5 million. The buyer was 2013 Associates LLC, at $700 per square foot.
- A multifamily building with five apartments at 426 West 20th Street sold for $9.3 million. The seller of the 4,700-square-foot property was an LLC tied to Robin LaFoley. The buyer was a company tied to Stanley Hainsworth.
- Greenwich Lane 76 LLC sold a condo at 160 West 12th Street for $8.9 million. The buyer was Hess Greenwich Lane LLC for a 2,500-square-foot unit at $3,600 per square foot.
- Alberto Mugrabi bought the 6,000-square-foot ground-floor unit for $8.6 million at 36 Bleecker Street.
- Alison and Adam Preiss bought a co-op at 1150 Fifth Avenue for $8.5 million. The seller was a trust with Katherine O'Brien Shah as trustee. The unit is a duplex with five bedrooms.
- L'Antiquaire and The Connoisseur, a gallery, sold a mixed-use building at 36 East 73rd Street for $8.5 million. The buyer of the 5,900-square-foot, five-story building was Leegan Commercial LLC.
- Richard Tang bought a 4,400-square-foot, six-bedroom unit at 60 Riverside Boulevard in Lincoln Square for $7.9 million. The sellers were two companies tied to Michelle Domb.
- Harvir and Rehan Latif picked up a 3,400-square-foot penthouse at Baron Property Group's 12 East 88th Street for $7.6 million, or $2,200 per square foot.
- Scott and Lauren Platshon scooped up a co-op at 100 Barrow Street in the West Village from a trust tied to Michael B. Benner. The price was $7.2 million: 2,400 square feet, or $3,000 per square foot.
- Patrick and Stephanie Griffin bought a four-bedroom, four-and-a-half-bath co-op at 1172 Park Avenue in Carnegie Hill for $7.2 million. The seller was the estate of wealth manager Stuart J. Birdt. The residence measures 3,100 square feet; the deal breaks down to $2,300 per square foot.
- Ceruzzi Properties and SMI USA sold a 2,700-square-foot sponsor unit at The Centrale at 138 East 50th Street for $6.6 million. The buyer was Midtown Crest LLC, at $2,400 per square foot. The unit has three bedrooms and three bathrooms.
