Buildings for Sale:
Maguire initiated a U.C.C. foreclosure on the equity interests of two mixed-use buildings at 53 and 55 Stone Street. The properties are owned by Alicia CastroLeal Harper. The properties, built in 1900 and 1913, total 16,700 square feet and consist of seven free-market apartments and a pub Underdog, a former taco joint. Both buildings are on the National Register of Historic Places.The Metropolitan College of New York has opted to sell three floors and a portion of the ground floor at 40 Rector Street. The private college has listed part of the property as a portion of a forbearance agreement with investors, after it broke certain terms of its bonds. Metropolitan College has $61 million in outstanding municipal bonds.
The Friar’s Club located at 57 East 55th Street will go up for sale in a foreclosure sale after financial issues and a lawsuit by its lender.
Buildings Sold:
RXR and Hudson Bay Capital have a joint partnership to acquire and recapitalize the 700,000-square-foot building at 620 Sixth Avenue. RXR already owned half of the building (excluding a retail condo owned by 32BJ SEIU). Hudson Bay Capital secured a five-year, $320 million loan on the Manhattan property, with each side emerging with a 50% stake in 500,000 square feet of office and retail space.Floyd Mayweather Jr. is under contract to buy a 1,000-unit affordable housing portfolio spanning 60 buildings from Black Spruce Management for $402 million.
Atlas Capital Group has acquired 80 Dekalb Avenue, a 36-story multifamily property with 365 residential units and almost 5,000 SF of retail at its base. KKR, the seller, is getting $202.5 million in the deal for the building.
Extell Development acquired 655 Madison, a 24-story office tower for nearly $160 million. The developer received a $150 million loan for the acquisition from Tyko Capital. The building is already slated for demolition.
Tavros Capital and Charney Cos. paid $160 million for 175 Third Street, a development site in Brooklyn’s Gowanus neighborhood. RFR is selling the land.
The Vanbarton Group is in contract talks to buy 1011 First Avenue and convert it to rental housing. The deal is valued at more than $100 million. The Archdiocese is consolidating its offices at 488 Madison Avenue. Samson sold 92 Third Street to Pearl Realty Management for $29.5 million.
PGIM Real Estate has sold a residential complex. Canvas Investment Partners bought 210-220 East 22nd Street for $104.5 million. Canvas’ purchase is part of a joint venture with Declaration Partners and Tokyu Land US Corp.
CIM Group has acquired the 11-story 88 University Place office building for $49 million in a foreclosure sale. CIM Group filed a foreclosure suit, alleging that mortgage and mezzanine loans had been in default for a year.
Continental Ventures has sold a retail condominium at 92 and 94 Greene Street in SoHo to Acadia Realty Trust for $44 million. The all-cash deal is Acadia’s 13th purchase in the neighborhood, following acquisitions of 37-39, 41, 45, 47 and 51 Greene Street.
Swiss bank UBS sold 135 West 50th Street, the 920,000-square-foot building. The winning bidder closed about 70 days later for $8.5 million, that’s 97% less than the $332.5 million that the seller, a Texas family, was the mystery buyer.
