CoreVest Finance

(CoreVest American Finance Lender, Redwood Trust, 5 Arch Funding, 5 Arches)

Lender

Private|Lender

4 Park Plaza, Suite 900 Irvine, CA 92614

630 Fifth Ave., Suite 2630 New York, NY 10111

People:

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Notes

CoreVest Finance is a subsidiary of Redwood Trust. Redwood Trust acquired 5 Arches, the parent company of 5 Arch Funding, in 2019.

Company Activity past 24 months:

Lender company: 1 for $7.2 million

Recent activity as company:

Kenneth Chan borrowed $31.8 million from Fortress Investment Group for 42 India Street on October 22, 2025.

Jacob Jacobowitz borrowed $7.2 million from CoreVest American Finance Lender for 1260 Decatur Street on August 27, 2024.

Alexander Property Holdings on November 13, 2023 bought a loan with an original principal of $7.5 million from CoreVest American Finance Lender, signed by Sokun Soun, secured by 343 West 47 Street, when owned by Fang Zou.

Kenneth Chan borrowed $29.5 million from CoreVest American Finance Lender for 42 India Street on March 20, 2023.

Joel Mittelman borrowed $8.8 million from CoreVest American Finance Lender for 1000 Woodycrest Avenue on May 13, 2022.

Yakov Gelb and Mike Kohn borrowed $30.6 million from CoreVest American Finance Lender for 4723 12 Avenue on March 31, 2022.

Joel Schwartz borrowed $5.2 million from Bridge City Funding for 922 Dekalb Avenue on October 08, 2021.

BCN Development borrowed $10.2 million from Metropolitan Commercial Bank for 2086 Valentine Avenue on July 15, 2021.

Chaim Walter borrowed $5.2 million from Corevest American Finance Lender for 236 Pulaski Street on January 26, 2021.

• Therese Oliva borrowed $9.2 million from Crown Bank for 193 Henry Street on December 18, 2020.

Latest Stories:

• OTL Enterprises signs $4M loan for 10-unit rental in Lower East Side (June 24, 2025)

• Sunil Agarwal pays $5.9M for dev site in Bayside through foreclosure (July 24, 2024)

• $7.5M bankruptcy at Hell’s Kitchen condo renovation project (July 12, 2023)

• Kenneth Chan signs $29.5M construction loan with CoreVest for 52-unit project in Greenpoint (April 03, 2023)

• JY Capital Group buys $8M note secured by dev site in Bayside (January 10, 2023)

• Joel Schwartz in contract to sell three Brooklyn properties with 52 units to JG Funding (February 24, 2022)

• Courts roundup: $22M pre-foreclosure at 62 Madison; MTA sues Eli Zabar for $1.5M (December 27, 2021)

• Craig Nassi’s BCN Development borrows $8M from Piermont Bank to refi development in University Heights (May 05, 2020)

• Craig Nassi’s BCN Development gets $9M construction loan from 5 Arch Funding Corp. for property in Fordham (September 18, 2019)

• 1260 Decatur LLC obtained financing of $8M from Santander Bank (August 26, 2019)

Court Records:

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