Hugh Jackman is trading neighborhoods, closing on a new Chelsea condo almost three months to the date after listing his West Village triplex. Jackman paid just over $21.1 million for a penthouse unit at the Jean Nouvel tower at 100 Eleventh Avenue, the Wall Street Journal reported. It’s the sixth-highest sale at the building, according to Streeteasy. The 4,700-square-foot, four-bedroom apartment was originally listed for $25 million. The unit has 14-foot floor-to-ceiling windows and 3,700
The Chetrit Group and Stellar Management picked up another huge loan for one of their luxury multifamily properties — this time on the Upper West Side. The development partners secured a $365 million refinancing for their 773,300-square-foot, 850-unit Park West Village complex at 784, 788 and 792 Columbus Avenue, the Commercial Observer reported. The CMBS loan was provided by Citigroup, BMO Capital Markets and Starwood Property Trust. The deal, which was finalized last Wednesday, was
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Cornell Realty Management’s Isaac Hager is back in bankruptcy court — this time over his minority stake in a Midtown building that has been trying to keep out of foreclosure. An entity through which Hager owns a 15 percent stake in Churchill Real Estate’s Penn Plaza building at 257-263 West 34th Street filed for Chapter 11 bankruptcy in Brooklyn on Wednesday. PincusCo first reported the filing. FIA Capital Partners’ David Goldwasser, a bankruptcy specialist who
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Stop us if you’ve heard this before: Vladislav Doronin’s luxury condominium conversion at the Crown Building scored another massive sale. This time it was unit 21A, which went to a mystery buyer last week for $53.4 million, according to city records filed Wednesday. No loan documents were associated with the sale, suggesting an all-cash buy. The building’s condo declaration indicates it’s a full-floor apartment. It’s the third unit in as many months to sell for
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The most unsightly building in Greenwich Village, if not the world, is getting a facelift. KPG Funds scored $34.5 million in financing from Thorofare to convert the moribund, seven-story structure at 132 West 14th Street into a modern Class A office and retail building, according to KPG. “We are tearing up everything from the bottom up,” said Rod Kritsberg, co-founder of KPG Funds. “Right now it’s probably the world’s ugliest building.” KPG signed a 99-year
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Gary Barnett’s Extell Development accused the developer behind one of Manhattan’s priciest condominiums of plotting to swindle Extell out of a $21 million lease and steal away a retail tenant. Attorneys representing the development firm filed a lawsuit Monday in Manhattan accusing Landsea Homes of breaching its contract to sell Extell a 11,200-square-foot retail unit at 540 Sixth Avenue. Extell also accused Landsea of attempting to strong-arm the closing of the unit while Extell was
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Vornado Realty Trust’s second-quarter earnings beat expectations, but the firm is facing “choppy conditions” and analyst anxiety over its massive Penn District development. Its funds from operations per share, a key earnings metric used by real estate investment trusts, were $.83 on an as-adjusted basis, above the $.79 Wall Street consensus estimates. Revenue hit $453 million, up from the $379 million during the same quarter last year. Vornado executives had originally projected double-digit growth in
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Joseph Chetrit has scored a loan to revamp one of Times Square’s dirtiest hotels. Chetrit’s firm, The Chetrit Group, secured a $185 million construction loan from Mack Real Estate Credit Strategies for the 570-key Hotel Carter at 250 West 43rd Street, according to a person familiar with the deal. The financing will replace a $152 million bridge loan from JPMorgan in 2018. Surya Capital Partners’ Adi Chugh arranged the financing for Chetrit. He had also
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A Harlem church standing on unsteady financial ground is asking the state to greenlight redevelopment plans that would allow the 50-year-old house of worship to remain open alongside more than five-dozen new residential units. The Broadway Spanish Baptist Church and its developer partner Kendy Construction filed an application with New York Supreme Court on Wednesday seeking approval for a joint venture that would permit the church’s redevelopment at 7 Hamilton Place to proceed. The church
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A 180-year-old townhouse in the Charlton-King-Vandam Historic District, a small sub-neighborhood between Hudson Square and Soho, has sold for a record price. Molly Howard, CEO of fashion brand La Ligne, paid $14.8 million for a 5,100-square-foot, five-bedroom home on Vandam Street, property records show. That’s just below the $14.9 million asking price and almost $1 million higher than the neighborhood’s previous record, a home that sold for $14 million in January. The townhouse market has
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