Bankwell Bank

208 Elm St. New Canaan, CT 06840

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Bankwell Bank portfolio

$3 million* – walkup 100%; Brooklyn 100%, Manhattan 0%

4700th largest portfolio by dollar value

15,953 sqft – walkup 100%;

4560th largest by SF

16 residential units – Brooklyn 100%, Manhattan 0%

3493th largest by residential units

0 foreclosures, 1 bankruptcy, 0 other court cases.

Company Activity past 24 months:

Buyer company: 1 for $9.7 million

Seller company: 1 for $8.5 million

Lender company: 5 for $76.4 million

Top Ten Associated Companies:

Marx Development Group (1), Green Street Group (1), Ultimate Care (1), Leo Friedman (1), Samuel Gutman (1), Chaim Simkowitz (1), Maninder Sethi (1), Kavneet Sethi (1), Janusz Sendowski (1), City Urban Realty (1)

Top Ten Associated People:

David E. Marx (1), Derek Greenberg (1), Chaim Sholam Sternhill (1), Chaim Simkowitz (1), Kavneet Sethi (1), Janusz Sendowski (1), Michael Alvandi (1), Thomas Rosenberg (1), Peter Mannarino (1), Chaskel Babad (1)

Recent activity as company:

Michael Melnicke borrowed $10 million from Bankwell Bank for 17-11 Brookhaven Avenue, Far Rockaway, Queens on January 02, 2025.

Juda Klein sold 80 Ainslie Street, Williamsburg, Brooklyn for $9.7 million to Bankwell Bank on November 27, 2024.

Leopold Friedman borrowed $18 million from Bankwell Bank for 641 West 230th Street, Spuyten Duyvil, Bronx on October 25, 2024.

Chaskel Babad borrowed $15.5 million from Webster Bank for 1001 Bushwick Avenue, Bushwick, Brooklyn on March 15, 2024.

City Urban Realty borrowed $6.4 million from Bankwell Bank for 143 Berry Street, Williamsburg, Brooklyn on November 14, 2023.

Janusz Sendowski borrowed $28.7 million from Deutsche Bank for 423 East 138th Street and 39 Carmine Street, Mott Haven, Bronx on August 29, 2023.

Janusz Sendowski borrowed $20 million from Bankwell Bank for 423-437 East 138th Street, Mott Haven, Bronx on July 11, 2023.

• Maninder Sethi and Kavneet Sethi borrowed $22 million from Bankwell Bank for 25-16 37th Avenue and 25-12 37th Avenue, Long Island City, Queens on February 09, 2023.

Chaim Simkowitz borrowed $7.2 million from Bankwell Bank for 15 Crooke Avenue, Flatbush, Brooklyn on November 09, 2022.

Marx Development Group borrowed $32 million from Bankwell Bank for 33-23 Union Street, Flushing, Queens on October 31, 2022.

Latest Stories:

• Marx Development signs non-binding MOU to sell Flushing nursing home for $75M (January 10, 2025)

• Lender Bankwell takes back 16-unit Williamsburg project through $9.7M bankruptcy sale (November 29, 2024)

• Leopold Friedman signs $18M refi for nursing home in Spuyten Duyvil (October 28, 2024)

• City Urban Realty pays $8.2M for mixed-use in Williamsburg (November 15, 2023)

• Janusz Sendowski signs $28.7M refi for rentals in Mott Haven, Greenwich Village (August 30, 2023)

• $15.7M Williamsburg bankruptcy at stalled 16-unit conversion (August 08, 2023)

• Bankrupt $14M LIC dev site sells, prior owner planned $39M condo (February 09, 2023)

• Marx Development Group signs $32M refi loan with Bankwell Bank for nursing home in Flushing (November 01, 2022)

• Nursing home investors pay $32M for two industrial properties in Williamsburg, get $32M loan (October 23, 2022)

• Green Street Group signs $17M refi with Bankwell Bank for 20-unit project in Greenwood Heights (September 19, 2022)

Court Records:

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Properties:

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*The Portfolio Value is the city’s Market Value, which is typically 50% or less of actual market value.

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