Borough Developers
199 Lee Ave #471 Brooklyn NY 11219
People:
Borough Developers NYC portfolio
$210.8 million -D1 40%, specialty 17%, industrial 14%; Brooklyn 73%, Manhattan 17%, Queens 8%*
929th largest portfolio by dollar value
219,258 sqft – specialty 35%, D1 26%, development 14%; Brooklyn 58%, Manhattan 35%, Queens 6%
1462th largest by SF
25 properties – Brooklyn 84%, Manhattan 8%, Queens 8%
401th largest
166 residential units – Brooklyn 98%, Manhattan 1%
1280th largest by residential units
Company Activity past 24 months:
Buyer company: 7 for $36.3 million
Borrower company: 8 for $218.8 million
Developer (new building or major alteration): 21 for 902,870 square feet
Top Ten Associated Companies:
S3 Capital (3), Citibank (1), Valley National Bank (1), Integritas Capital (1), Strong Entities (1), Berkshire Residential Investments (1), Oak Funding (1), Broadview Capital (1)
Top Ten Associated People:
Ana Rosu Marmann (1), Joshua Crane (1), Stephen Palmese (1), Zev Aeder (1), Jonathan Pfeil (1), Jeremy Levart (1), Lawrence Andelsman (1)
Recent activity as company:
• Borough Developers and Watermark Capital Group borrowed $18.5 million from Oak Funding for 456 Bushwick Avenue on March 11, 2026.
• Borough Developers and Watermark Capital Group borrowed $64 million from Berkshire Residential Investments for 141 South Elliott Place on March 06, 2026.
• Chaskel Landau ground leased 54-08 Myrtle Avenue valued at $3.9 million to Watermark Capital Group and Borough Developers on October 30, 2025.
• Tolib Mansurov sold 75 4 Avenue for $24 million to Borough Developers and Watermark Capital Group on September 18, 2025.
• Borough Developers and Watermark Capital Group borrowed $63 million from Integritas Capital for 75 4 Avenue on September 18, 2025.
• Borough Developers and Watermark Capital Group borrowed $24.8 million from Valley National Bank for 319 East 17 Street on May 23, 2025.
• Borough Developers borrowed $11.5 million from Strong Entities for 60 street on February 07, 2025.
• Borough Developers for Shimon Kleinman filed plans for major alteration for 75,797 sqft in Gramercy, Manhattan, on January 23, 2025.
• Borough Developers for Shimon Kleinman filed plans for major alteration for 75,797 sqft in Gramercy, Manhattan, on December 27, 2024.
• Borough Developers for Shimon Kleinman filed plans for major alteration for 6,651 sqft in Gramercy, Manhattan, on December 27, 2024.
Latest Stories:
• Shimon Kleinman of Borough Developers files plans for 99 units in Park Slope (July 21, 2025)
• Joyland Group pays $33.6M to Mount Sinai for conversions in Gramercy (January 07, 2025)
• Borough Developers pays $4.8M for dev site in Bedford Stuyvesant (July 19, 2024)
Properties: