Community Preservation Corporation

Lender

220 East 42nd Street, 16th Floor New York, New York 10017

People:

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Community Preservation Corporation NYC portfolio

$188 million* – elevator 93.0%, walkup 6.0%; Brooklyn 100.0%, Manhattan 0.0%

782th largest portfolio by dollar value

599,143 sqft – elevator 92%, walkup 7%;

527th largest by SF

7 properties – Brooklyn 100%, Manhattan 0%

1154th largest

564 residential units – Brooklyn 100%, Manhattan 0%

385th largest by residential units

37 foreclosures, 1 bankruptcy, 0 other court cases.

Company Activity past 24 months:

Seller company: 1 for $11.2 million

Lender company: 11 for $253.5 million

Top Ten Associated Companies:

MHANY Management (4), Settlement Housing Fund (2), Hope Community (2), Yidel Kohn (2), Stagg Group (2), SMJ Development (2), Bronx Pro Group (2), 1 MetroTech Center suite 1803 registered (1), Maddd Equities (1), Joy Construction (1)

Top Ten Associated People:

Ismene Speliotis (3), Yidel Kohn (2), Mark Stagg (2), Andrew Reicher (2), Jonathan Rubin (1), Jacqueline Tom (1), Walter Roberts (1), Eli S. Weiss (1), Ronen Haron (1), Nicole Branca (1)

Recent activity as company:

Hope Community borrowed $15.7 million from Community Preservation Corporation for 135 West 132nd Street, 406 Lenox Avenue, 424 Lenox Avenue, 426 Lenox Avenue, and 432 Lenox Avenue, Harlem, Manhattan on March 18, 2025.

Settlement Housing Fund borrowed $29.3 million from Community Preservation Corporation for 644 Riverside Drive, Harlem, Manhattan on March 12, 2025.

Community Preservation Corporation sold 293 Mcguinness Boulevard, 299 Mcguinness Boulevard, and 287 Mcguinness Boulevard, Greenpoint, Brooklyn for $11.2 million to 1 MetroTech Center suite 1803 registered on March 04, 2025.

Black Spruce Management borrowed $91.2 million from Goldman Sachs for 80-08 135th Street, 81-10 135th Street, 515 St Marks Avenue, 1063 Pacific Street, 663 Classon Avenue, and others, Briarwood, Queens on December 09, 2024.

Elmcor borrowed $10.8 million from NYC Department of Housing Preservation and Development for 104-10 Northern Boulevard, North Corona, Queens on November 26, 2024.

Stagg Group borrowed $24.2 million from Berkadia Commercial Mortgage for 4435 White Plains Road, Wakefield, Bronx on November 08, 2024.

SMJ Development borrowed $6.3 million from Community Preservation Corporation for 535 East 12th Street and 204 Avenue A, Alphabet City, Manhattan on September 26, 2024.

Madison Realty Capital borrowed $0 from Peter Stern for 3052 Brighton 1st Street, Brighton Beach, Brooklyn on September 24, 2024.

Metropolitan Realty Group borrowed $14.1 million from Greystone & Co. for 366 Pennsylvania Avenue, 378 Pennsylvania Avenue, 350 Pennsylvania Avenue, and 354 Pennsylvania Avenue, East New York, Brooklyn on September 13, 2024.

RYCO Capital borrowed $128.2 million from Derby Copeland Capital for 156 2nd Avenue, 151 2nd Avenue, 145 2nd Avenue, 141 2nd Avenue, 131 2nd Avenue, and others, East Village, Manhattan on August 29, 2024.

Latest Stories:

• Courts roundup: Suit over $48M Brooklyn sale, $10M Bronx auction, $60M East Village pre-foreclosure (March 17, 2025)

• Lender sells formerly foreclosed rentals for $11.2M in Greenpoint (March 05, 2025)

• $76M pre-foreclosure filed at Madison Realty portfolio with rent-regulated units (March 03, 2025)

• $15M bankruptcy filed at nearly-complete 45-unit Longwood rental (December 17, 2024)

• Stagg Group signs $24.2M refi with Berkadia for 82-unit rental in Wakefield (November 11, 2024)

• Metropolitan Realty signs $14.1M refi with Greystone for four walkups in East New York (September 16, 2024)

• RYCO Capital signs $128.2M loan with Derby Copeland for nine properties in East Village (August 30, 2024)

• Sam Sprei pays $13.1M to Madison Realty Capital for 41-unit rental in Brighton Beach following bankruptcy (August 08, 2024)

• RYCO Capital pays Jonis Realty $103M for more East Village rentals, part of $132M deal (July 17, 2024)

• Artimus signs $91M construction loan for residential construction in Gowanus (February 12, 2024)

Court Records:

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Properties:

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*The Portfolio Value is a PincusCo estimate based on a property’s recent sale or loan, or multiplying the city’s Market Value by two.

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