Chess Builders
199 Lee Avenue, Pmb 103 Brooklyn, NY 11211
59 Montrose Ave #1A Brooklyn, NY 11206
People:
Chess Builders NYC portfolio
$490 million* – industrial 50%, elevator 28%; Brooklyn 50%, Manhattan 49%
344th largest portfolio by dollar value
156,547 sqft – industrial 40%, office 36%;
1448th largest by SF
5 properties – Brooklyn 60%, Manhattan 40%
1500th largest
251 residential units – Brooklyn 86%, Manhattan 13%
744th largest by residential units
Company Activity past 24 months:
Buyer company: 2 for $80 million
Borrower company: 5 for $368.4 million
Developer (new building or major alteration): 6 for 498,179 square feet
Top Ten Associated Companies:
Parke Bank (2), Valley National Bank (2), Extell Development (1), MF1 Capital (1), Haven Capital (1), Hakimian Organization (1), S3 Capital (1)
Top Ten Associated People:
Marc Kwestel (1), Jeffrey Puchin (1), Carolyn Burgess (1), Marc Gitto (1), Terence McArdle (1), Behrouz Ben Hakimian (1), Joshua Crane (1)
Recent activity as company:
• Chess Builders borrowed $105 million from Valley National Bank for 355 East 86th Street, Yorkville, Manhattan on March 12, 2025.
• Extell Development sold 355 East 86th Street, Yorkville, Manhattan for $50 million to Chess Builders on March 06, 2025.
• Chess Builders borrowed $79 million from S3 Capital for 250 West 49th Street, Midtown West, Manhattan on January 22, 2025.
• Hakimian Organization sold 244 West 49th Street, Midtown West, Manhattan for $30 million to Chess Builders on January 17, 2025.
• Chess Builders borrowed $7.2 million from Parke Bank for 279 Mc Kibbin Street, East Williamsburg, Brooklyn on December 30, 2024.
• Chess Builders borrowed $7.2 million from Parke Bank for 55 North 9th Street, Williamsburg, Brooklyn on December 24, 2024.
• Chess Builders borrowed $170 million from MF1 Capital for 218 Front Street, Vinegar Hill, Brooklyn on October 29, 2024.
• Chess Builders for Cheskel Schwimmer filed plans for new building for 55,370 sqft in Hell’s Kitchen, Manhattan, on September 30, 2024.
• Chess Builders for Cheskel Schwimmer filed plans for new building for 10,853 sqft in Williamsburg, Brooklyn, on September 13, 2024.
• Chess Builders for Cheskel Schwimmer filed plans for new building for 53,307 sqft in Manhattan, on May 23, 2024.
Latest Stories:
• 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)
• Cheskel Schwimmer pays $4.9M for likely dev site in Williamsburg (October 12, 2022)
• Haven Capital pays $107.4M to Cheskel Schwimmer for three properties in Mott Haven (May 23, 2022)
Properties: