Breaking Ground
Lender
505 8th Ave 5th Floor New York, NY 10018
People:
Breaking Ground NYC portfolio
$1.4 billion -elevator 29%, hotel 28%, development 13%; Manhattan 42%, Brooklyn 39%, Queens 15%*
163th largest portfolio by dollar value
1,642,642 sqft – elevator 54%, hotel 28%, specialty 15%; Manhattan 48%, Brooklyn 34%, Bronx 15%
298th largest by SF
19 properties – Brooklyn 31%, Queens 31%, Manhattan 21%
537th largest
1,963 residential units – Manhattan 36%, Brooklyn 34%, Bronx 16%
163th largest by residential units
Company Activity past 24 months:
Buyer company: 4 for $297.4 million
Borrower company: 8 for $1.1 billion
Top Ten Associated Companies:
NYS Housing Finance Agency (5), NYC Department of Housing Preservation and Development (3), Low Income Investment Fund (3), City of New York (2), UMB Bank (2), NYC Housing Development Corporation (1), Community Preservation Corporation (1), Enterprise Community Partners (1), Wells Fargo (1)
Top Ten Associated People:
Russell Hubley (4), Emily Lehman (1), Molly Anderson (1), Sarah Leitson (1), Leanna Bellmund (1), Andrew Griffith (1)
Recent activity as company:
• Tishman Speyer sold Rockaway beach boulevard for $14.5 million to Breaking Ground on June 23, 2026.
• Lupoli Holdings Partnership sold None for $12 million to Breaking Ground on May 19, 2026.
• Breaking Ground borrowed $15.9 million from Community Preservation Corporation and Low Income Investment Fund for None on May 19, 2026.
• Breaking Ground borrowed $66.4 million from UMB Bank for 581 Albany Avenue, East Flatbush, Brooklyn on December 30, 2025.
• Breaking Ground borrowed $71.5 million from UMB Bank for 50 Sparrow Way, East Flatbush, Brooklyn on December 30, 2025.
• Sioni Group and Patriarch Equities sold 377 7 Avenue for $260 million to Slate Property Group and Breaking Ground on December 19, 2025.
• Slate Property Group and Breaking Ground borrowed $295.5 million from Wells Fargo, NYS Housing Finance Agency, NYC Department of Housing Preservation and Development and Low Income Investment Fund for 377 7 Avenue on December 19, 2025.
• Breaking Ground borrowed $201.3 million from NYS Housing Finance Agency for 25 Sparrow Way and 55 Sparrow Way, None, Brooklyn on October 28, 2025.
• Tishman Speyer sold Beach 53 street for $10.9 million to Breaking Ground on March 27, 2025.
• Tishman Speyer and Breaking Ground borrowed $142.8 million from NYS Housing Finance Agency for Beach 53 street on March 27, 2025.
Latest Stories:
• Breaking Ground pays $12M for LIC dev site, owned for 76 years (June 09, 2026)
• Sioni Group revises Penn Plaza hotel-to-residential conversion with 625 units (December 09, 2024)
• Tishman Speyer files plans for 244-unit project in Edgemere (August 23, 2024)
• Waterfall Asset Management buys $145M note secured by dorm in Carnegie Hill (August 16, 2022)
Properties: