Hagler Takes Arch's Stalled Ridgewood Tower in a $75.8M Deed
The City Register shows a 63.6% undivided interest changing hands across four Queens lots, with the deed signed September 8 and recorded 21 days later.
Arch Companies’ stalled Ridgewood, Queens tower changed hands on paper this week: a deed recorded September 29 conveys a 63.6% undivided interest from Ridgewood Tower LLC to CDK 3-50 St. Nicholas LLC, a vehicle for investor Daryl Hagler, for $75,825,747.
Why it matters
The City Register shows the deed was signed September 8 and recorded September 29, so the buyer held the paper for 21 days before it reached the public record. It covers four lots on Queens block 3445, lots 1, 23, 27 and 32, and the seller is named only as owner of a 63.6% undivided interest, which means the record does not show who holds the remaining 36.4%. Commercial Observer reports that Hagler assumed roughly $75 million of Madison Realty Capital mortgages and paid $10.2 million for the 99-year ground lease on the adjoining parcel, a separate transaction we could not find in the recorded documents. For lenders and investors circling other Arch-linked projects, including the ones tied up in the firm’s internal litigation, a stalled New York tower moving to a buyer who takes on the debt is the outcome they will be watching.
The numbers
The recorded consideration of $75,825,747 is close to the roughly $75 million in Madison Realty Capital debt that Commercial Observer says Hagler assumed, which suggests the deed price largely tracks the loan balance rather than a fresh equity purchase. That reading is our inference; the deed itself does not itemize the debt. Commercial Observer puts the building at 133 units. We did not find a matching mortgage assignment or assumption document indexed in the public data, because the city’s open-data mirror of ACRIS lags recent filings, so the lender documents are unconfirmed here.
What’s next
Watch the City Register for a mortgage assignment or modification tied to these four lots, and for a separate ground lease memorandum on the adjoining parcel, which would confirm the $10.2 million figure. Any such filing would show whether Madison Realty Capital agreed to the new borrower on the same terms. More on the borough’s deals is on the New York market page.
On the record
What we checked ourselves, and where you can check it too.
- Public recordRead the recorded deed in the City Register (document 2026092400262003, CRFN 2026000277060) and established the exact consideration of $75,825,747, that the seller, Ridgewood Tower LLC, conveyed only a 63.6% undivided interest, that the deed is dated September 8 and was recorded September 29, a 21-day gap, and that the conveyance spans four Queens tax lots on block 3445 (lots 1, 23, 27 and 32).View the record on a836-acris.nyc.gov
Sources
- NYC Department of Finance, ACRIS Document Detail, 2026092400262003Deed, CRFN 2026000277060, Ridgewood Tower LLC to CDK 3-50 St. Nicholas LLC, $75,825,747