Chess Builders
199 Lee Avenue, Pmb 103 Brooklyn, NY 11211
59 Montrose Ave #1A Brooklyn, NY 11206
People:
Chess Builders NYC portfolio
$711.2 million -industrial 65%, elevator 19%, office 14%; Manhattan 57%, Brooklyn 42%*
324th largest portfolio by dollar value
200,967 sqft – industrial 53%, office 28%, elevator 18%; Manhattan 53%, Brooklyn 46%
1559th largest by SF
10 properties – Brooklyn 60%, Manhattan 40%
990th largest
336 residential units – Brooklyn 64%, Manhattan 35%
784th largest by residential units
Company Activity past 24 months:
Buyer company: 4 for $99.6 million
Borrower company: 7 for $545.4 million
Developer (new building or major alteration): 6 for 498,179 square feet
Top Ten Associated Companies:
MF1 Capital (2), S3 Capital (2), Parke Bank (2), Valley National Bank (2), Haven Capital (1)
Top Ten Associated People:
Marc Gitto (1), Jonathan Pfeil (1), Joshua Crane (1), Jeffrey Puchin (1), Terence McArdle (1), Carolyn Burgess (1)
Recent activity as company:
• Chess Builders borrowed $52 million from S3 Capital for None on January 29, 2026.
• Gregory Pasternak sold None for $15.5 million to Chess Builders on January 28, 2026.
• Gregory Pasternak sold None for $4.1 million to Chess Builders on January 28, 2026.
• Chess Builders borrowed $125 million from MF1 Capital for 624 11 Avenue on December 15, 2025.
• Extell Development sold 1659 1 Avenue for $50 million to Chess Builders on February 28, 2025.
• Chess Builders borrowed $105 million from Valley National Bank for 1659 1 Avenue on February 28, 2025.
• Hakimian Organization sold 250 West 49 Street for $30 million to Chess Builders on January 13, 2025.
• Chess Builders borrowed $79 million from S3 Capital for 250 West 49 Street on January 13, 2025.
• Chess Builders borrowed $7.2 million from Parke Bank for 57 North 9 Street on December 11, 2024.
• Chess Builders borrowed $7.2 million from Parke Bank for 285 Mc Kibbin Street on December 11, 2024.
Latest Stories:
• Chess Builders pays $19.6M for dev site in Williamsburg (February 12, 2026)
• Cheskel Schwimmer ups debt to $95M at Hell’s Kitchen dev site (April 01, 2025)
• Chess Builders pays $50M to Extell Development for dev site in Yorkville (March 07, 2025)
• Chess Builders pays $30M to Hakimian Org. for 135-unit dev site in Midtown West (January 20, 2025)
• Chess Builders files plans for 99-unit building on First Avenue in Yorkville (November 25, 2024)
Properties: