157 Beach 115th Street

Menachem Chazanow’s Crystal At Rockaway Park LLC acquired a development site at 157 Beach 115th Street, Rockaway Park, Queens, from Marcal Group’s Emerald Beach East LLC for $14.4 million. The site has plans for a 76-unit, 84,565 square-foot residential building. Financing was secured through an $8.4 million loan from Skybrook Capital. Marcal Group’s Mark Caller signed the deal, while Chazanow represented his entity. The area features mainly specialty buildings, with limited development activity. Marcal Group previously owned 12 NYC properties, predominantly office spaces, while Chazanow’s portfolio comprises industrial properties primarily in the Bronx.