Third quarter foreclosure filings dropped 32% in New York City compared to a year go. The numbers show that lenders filed 3,168 foreclosures on single-family and multifamily properties during the three month period, a recent study issued by the New York University Furman Center for Real Estate and Urban Policy says. In addition, notices also [...]
A Soho office building was purchased by a joint venture of Jared Kushner and Los Angeles-based CIM Group for $50 million, the New York Post reported. The real estate located at 200 Lafayette Street on the corner of Broome Street features 130,000 square-feet of leasable space. The sellers were investors John Zaccaro Sr. and John [...]
East Williamsburg’s 291 Deveo, an eight-unit condo located between Catherine and Olive streets, sells out each unit after just over a year, according to MNS, the exclusive ales and marketing firm for the project. The owner of the project became Chicago’s Builders Bank by servicing the construction loan to its original developer. The entity defaulted [...]
The Broadway Arcade, an Albany, New York apartment project was halted as the lender foreclosed on the building. This means the $8 million renovation plans that would have created 52 upscale apartments on the upper floors is off. Broadway Arcade LLC loaned the money for the property located at 488 Broadway, and it became the [...]
The lender Crane, A.G. filed to foreclose on a leasehold of the 47-room Hotel 41 located at 206 West 41st Street. The date of the foreclosure sale is set to December 5, when the developer Benjamin Soleimani’s interest will change hands, public records show. The Hotel 41’s 11,562-square-feet on a side street just below Times [...]
The “Ice Cream of the Future” maker filed for Chapter 11 bankruptcy in order to avoid foreclosure on more than $11 million in loans. The Paducah made this move last week, asking US Bankruptcy Judge Thomas H. Fulton to allow it to use cash collateral to continue operations, while the case plays out. The filing [...]
Harry Jeremias put his Chelsea office rehabilitation project at 216 West Street into bankruptcy in order to transfer the 13-story building to a designee of Atlas CapitalGroup, according to court records. The same records show the development company owes $74.3 million in principal and interest on a first mortgage and $24.6 million in principal and [...]
Extell Development Co. received a $700 million construction loan from a syndicate led by Bank of America for One57, a 90-story, mixed used development in Manhattan, which will be New York City’s tallest residential tower. The $1.4 billion project located at 15 West 57th Street 6th and 7th avenues broke was launched earlier this year [...]
