Empire State Development
Empire State Development NYC portfolio
$33.2 million* – specialty 100%; Manhattan 100%, Bronx 0%
2306th largest portfolio by dollar value
1,378,125 sqft – specialty 100%;
238th largest by SF
0 foreclosures, 0 bankruptcies, 1 other court case.
Company Activity past 24 months:
Lender company: 1 for $113 million
Top Ten Associated Companies:
Citibank (1), Greenland USA (1), Starwood Capital Group (1)
Top Ten Associated People:
Gang Hu (1), Michael Utz (1)
Recent activity as company:
• Starwood Capital Group borrowed $113 million from Empire State Development and Sumitomo Mitsui Banking Corporation for 60 Furman Street, 90 Furman Street, 90 Furman Street, 60 Furman Street, 90 Furman Street, and others, Brooklyn Heights, Brooklyn on October 07, 2024.
• Omni New York borrowed $18.3 million from Merchants Bank of Indiana for 769 Grote Street, Belmont/Little Italy, Bronx on March 08, 2022.
• Rockrose Development borrowed $210 million from MetLife for 47-05 Center Boulevard, Long Island City, Queens on March 03, 2022.
• Empire State Development sold 15 4th Avenue and 617 Pacific Street, Park Slope, Brooklyn for $19.1 million to Greenland USA on November 15, 2021.
• Empire State Development borrowed $25 million from Citibank for 441 8th Avenue, Penn Plaza, Manhattan on December 24, 2020.
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