Acacia Network

(Promesa Foundation, Puerto Rican Organization to Motivate Enlighten and Serve Addicts)

Nonprofit

915 Westchester Avenue, Bronx, NY 10459

311 East 175th Street Bronx, NY 10457

People:

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Acacia Network NYC portfolio

$157.7 million -specialty 30%, development 30%, hotel 15%; Queens 54%, Bronx 45%*

1129th largest portfolio by dollar value

273,423 sqft – walkup 45%, specialty 20%, elevator 18%; Bronx 82%, Queens 17%

1270th largest by SF

14 properties – Bronx 85%, Queens 14%

743th largest

194 residential units – Bronx 100%

1173th largest by residential units

Notes

Acacia Network is a nonprofit operates affiliates such as Promesa Foundation (formerly Puerto Rican Organization to Motivate Enlighten and Serve Addicts) and others

Company Activity past 24 months:

Seller company: 1 for $9.5 million

Borrower company: 4 for $99.1 million

Developer (new building or major alteration): 1 for 125,240 square feet

Top Ten Associated Companies:

NYS Dormitory Authority (4), Webster Bank (1), Investors Bank (1), Popular Bank (1), Liberty One Group (1)

Top Ten Associated People:

Kerry Labotz (1), Trishia Allen (1), Trishia P. Allen (1), Barry D. Lites (1), David Levitan (1)

Recent activity as company:

• Acacia Network borrowed $34.6 million from NYS Dormitory Authority for 171-87 119 Avenue on April 15, 2026.

• Acacia Network borrowed $27.8 million from Webster Bank for None on April 09, 2026.

• Acacia Network for Cornelia Narovici filed plans for new building for 125,240 sqft in Crown Heights, Brooklyn, on December 30, 2025.

• Promesa Foundation borrowed $6.5 million from NYS Dormitory Authority for 932 Kelly Street on May 28, 2025.

• Acacia Network sold 851 East 164 Street for $9.5 million to Liberty One Group on October 31, 2024.

• Acacia Network borrowed $30.1 million from NYS Dormitory Authority for 148-24 116 Avenue on September 11, 2024.

• Promesa Foundation for David Almonte filed plans for new building for 72,922 sqft in Longwood, Bronx, on October 24, 2023.

• Manuel Mejia sold 1862 Anthony Avenue for $2 million to Acacia Network on December 07, 2022.

• Shadan Harooni sold 1856 Anthony Avenue for $2.8 million to Promesa Foundation on November 29, 2022.

• Acacia Network for Jesus Pedrosa filed plans for new building for 23,495 sqft in St. Albans, Queens, on October 04, 2022.

Properties:

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