Chess Builders
199 Lee Avenue, Pmb 103 Brooklyn, NY 11211
59 Montrose Ave #1A Brooklyn, NY 11206
People:
Chess Builders NYC portfolio
$761.7 million -industrial 61%, elevator 18%, office 13%; Manhattan 60%, Brooklyn 39%*
298th largest portfolio by dollar value
309,709 sqft – D3 35%, industrial 34%, office 18%; Manhattan 70%, Brooklyn 29%
1174th largest by SF
11 properties – Brooklyn 54%, Manhattan 45%
923th largest
613 residential units – Manhattan 64%, Brooklyn 35%
521th largest by residential units
Company Activity past 24 months:
Buyer company: 4 for $99.6 million
Borrower company: 8 for $583.4 million
Developer (new building or major alteration): 5 for 374,342 square feet
Top Ten Associated Companies:
Valley National Bank (3), Parke Bank (2), MF1 Capital (2), S3 Capital (2), Haven Capital (1)
Top Ten Associated People:
Jeffrey Puchin (1), Terence McArdle (1), Carolyn Burgess (1), Marc Gitto (1), Jonathan Pfeil (1), Joshua Crane (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 $38 million from Valley National Bank for None on December 17, 2025.
• 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.
Latest Stories:
• Chess Builders pays $19.6M for dev site in Williamsburg (February 12, 2026)
• Chess Builders signs $38M refi for new 58-unit building in Hell’;s Kitchen (December 22, 2025)
• 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)
Properties: