932 2 Avenue

Owner: Mag Partners

Acquired: January 31, 2022, $4.5 million

Debt: July 30, 2026, $141.4 million

Built: 2024

Renovated: 2024

SF: 190,644

Dwelling units: 194

No. of buildings: 1

Class: Fireproof – With Stores (D6)

Floors: 23

Legacy BBLs: 1013420048.00000000

HPD Ownership Registration Information

Last registered: 2023-10-10 (expires 2024-09-30)

Transactions:

• MAG Partners, Global Holdings Management Group and Safanad borrowed $141.4 million from M&T Bank for 300 East 50th Street, Turtle Bay, Manhattan on July 30, 2026.

• MAG Partners borrowed $95 million from Bank OZK for 300 East 50th Street, Turtle Bay, Manhattan on December 04, 2023.

• MAG Partners and Krown Point Capital borrowed $33 million from Emerald Creek Capital for 300 East 50th Street, 932 2nd Avenue, and 308 East 50th Street, Turtle Bay, Manhattan on January 31, 2022.

• Georgetown Partners sold 300 East 50th Street, 928 2nd Avenue, 930 2nd Avenue, 932 2nd Avenue, and 308 East 50th Street, Turtle Bay, Manhattan for $4.5 million to MAG Partners and Krown Point Capital on January 31, 2022.

Development:

• Reggie Kronstadt filed new building job M00611352 for 117,895 sqft R-2 building with 114 apartments in Turtle Bay, Manhattan, on October 22, 2021.

• Rob Willis filed alteration job M01283298 for 3,781 sqft R-2 building with 194 apartments in Turtle Bay, Manhattan, on June 11, 2026.

• Rob Willis filed alteration job M01369151 for 1,000 sqft R-2 building with 194 apartments in Turtle Bay, Manhattan, on March 20, 2026.

• Reggie Kronstadt filed alteration job M01193820 for 3,376 sqft R-2 building with 194 apartments in Turtle Bay, Manhattan, on March 24, 2025.

• Reggie Kronstadt filed alteration job M01093604 for 1,230 sqft building with 194 apartments in Turtle Bay, Manhattan, on December 20, 2024.

• Ibraim Redza filed alteration job M00994665 for 1,000 sqft building with 1 apartments in Turtle Bay, Manhattan, on January 30, 2024.

Violations:

According to city public data, the properties have received one DOB violation, $101,250 in ECB penalties, and $3,440 in OATH penalties in the last year.

Latest Stories:

• MAG, Global Holdings, Safanad sign $141.4M refi with M&T for 194-unit rental in Turtle Bay (August 03, 2026)

• MAG Partners signs $95M construction loan with Bank OZK for 114-unit project in Turtle Bay (December 05, 2023)

• MAG Partners, Krown Point sign $33M loan with Emerald Creek Capital for 114-unit project in Turtle Bay (February 01, 2022)

• 22-unit Midtown East rental trades for $12M (May 11, 2021)