JY Capital Group Acquires $8.5M Note From Thota Nagaraja In NoMad Deal

The transaction involved the acquisition of an $8.5 million note from Thota Nagaraja by JY Capital Group, operating through Straits of JY Inc. The note was secured by two properties in NoMad, Manhattan—Osman Bessa's office building at 33 West 26th Street and a four-unit mixed-use building at 35 West 26th Street.

Summary of transaction details:

• Property Type: Note
• Transaction Amount: $8,500,000
• Address: 33 West 26th Street & 35 West 26th Street
• Market: NoMad, Manhattan
• Buyer: Alexander Hofstedter - JY Capital Group
• Seller: Thota Nagaraja

Alexander Hofstedter represented JY Capital Group in the acquisition of the note from Thota Nagaraja. JY Capital Group, through Straits of JY Inc., secured the note with the two properties. Thota Nagaraja was the seller in this transaction.