Azimuth Development Group

azimuthdg.com/about.php

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Azimuth Development Group NYC portfolio

$416.8 million* – development 63.0%, V0 21.0%; Bronx 80.0%, Manhattan 9.0%

412th largest portfolio by dollar value

182,871 sqft – specialty 48.0%, D6 27.0%;

1303th largest by SF

12 properties – Manhattan 41%, Bronx 41%

697th largest

345 residential units – Bronx 76.0%, Manhattan 23.0%

582th largest by residential units

0 foreclosures, 0 bankruptcies, 3 other court cases.

Company Activity past 24 months:

Buyer company: 6 for $37.6 million

Seller company: 1 for $12 million

Borrower company: 5 for $283.8 million

Developer (new building or major alteration): 1 for 68,853 square feet

Top Ten Associated Companies:

Top Rock Holdings (2), NYC Housing Development Corporation (1), Davis Companies (1), Raza Development Fund, Inc. (1), 99 Morningside Noteholder LLC (1), Mark Sonnenschein (1), NYS Housing Finance Agency (1), NYC Department of Housing Preservation and Development (1), Sopher Real Estate (1), Metropolitan Commercial Bank (1)

Top Ten Associated People:

Jonathan G. Davis (1), Vyacheslav Chertov (1), Guido Subotovsky (1), Jonathan Sopher (1), Lawrence Andelsman (1), Joseph Henry Cortese (1), K. James Dittbrenner (1), George J. Macchia (1)

Recent activity as company:

• Macchia Group sold 4001 4th Avenue, Sunset Park, Brooklyn for $6.7 million to Azimuth Development Group on February 06, 2025.

• Azimuth Development Group borrowed $10.2 million from Webster Bank for 1328 Castle Hill Avenue and 1300 Castle Hill Avenue, Westchester Square, Bronx on November 15, 2024.

• Crossroads Tabernacle sold 1328 Castle Hill Avenue, Westchester Square, Bronx for $7.5 million to Azimuth Development Group on November 15, 2024.

• Barone Management, Shie Lefkovits and Azimuth Development Group borrowed $25 million from Broadview Capital for 134-11 221st Street, Laurelton, Queens on November 14, 2024.

• Sopher Real Estate sold 2211 Westchester Avenue, Westchester Square, Bronx for $6.1 million to Azimuth Development Group on May 31, 2024.

• Azimuth Development Group borrowed $68.9 million from NYS Housing Finance Agency and NYC Department of Housing Preservation and Development for 450 East 158th Street and 407-409 East 158th Street, Melrose, Bronx on April 10, 2024.

• Mark Sonnenschein sold 450 East 158th Street and 407-409 East 158th Street, Melrose, Bronx for $4.3 million to Azimuth Development Group on April 10, 2024.

• Azimuth Development Group borrowed $11.8 million from Metropolitan Commercial Bank for 530 West 215th Street and 532 West 215th Street, Inwood, Manhattan on October 13, 2023.

• Top Rock Holdings sold 2970 3rd Avenue, Longwood, Bronx for $4.3 million to Azimuth Development Group and Top Rock Holdings on October 05, 2023.

• Top Rock Holdings sold 134-11 221st Street, Laurelton, Queens for $8.7 million to Azimuth Development Group on August 16, 2023.