Hidrock Properties

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Hidrock Properties NYC portfolio

$30.5 million* – elevator 53%, mixed-use 46%; Brooklyn 100%

2541th largest portfolio by dollar value

53,490 sqft – elevator 79%, mixed-use 20%;

2854th largest by SF

3 properties – Brooklyn 100%

2409th largest

42 residential units – Brooklyn 100%

2464th largest by residential units

2 foreclosures, 0 bankruptcies, 3 other court cases.

Company Activity past 24 months:

Seller company: 9 for $106.3 million

Top Ten Associated People:

Shlomo Avdoo (2), Kunal Agarwal (2), In Yeol Kim (2), Mark Winter-Gitelson (2), Yeol Kim (1), Kenneth Y. Leung (1), Manouchehr Malekan (1), Eduard Kandinov (1), Gary Hoffson (1), Lev Haimoff (1)

Recent activity as company:

Hidrock Properties sold 72 Nassau Street and 72 Nassau Street, Financial District, Manhattan for $18.4 million to Malachite Group on March 14, 2025.

Hidrock Properties sold 112 Liberty Street, Financial District, Manhattan for $21.7 million to Hiwin Group USA on March 28, 2024.

Hidrock Properties sold 192 Prospect Park West, South Slope, Brooklyn for $7 million to Yuval Jacob on March 22, 2024.

Hidrock Properties sold 35 West 36th St and 35 West 36th St, Garment District, Manhattan for $4 million to Don Choi on October 06, 2023.

Hidrock Properties sold 12 East 48th Street, Midtown East, Manhattan for $2.1 million to Eduard Kandinov on August 28, 2023.

Hidrock Properties sold 110 Boerum Place and 96 Boerum Place, Boerum Hill, Brooklyn for $20.1 million to Avdoo & Partners Development on July 25, 2023.

Hidrock Properties sold 148 10th Avenue, 146 10th Avenue, and 150 10th Avenue, Chelsea, Manhattan for $26.9 million to Benchmark Real Estate Group on June 28, 2023.

Hidrock Properties sold 35 West 36th St, Garment District, Manhattan for $2.1 million to A to Z Media on June 02, 2023.

Hidrock Properties sold 35 West 36th St, Garment District, Manhattan for $4.1 million to Formosa Asset Group on May 31, 2023.

Hidrock Properties sold 35 West 36th St and 35 West 36th St, Garment District, Manhattan for $5.5 million to Elite Group International NY on April 05, 2023.

Latest Stories:

• Malachite Group pays $18.4M to Hidrock for one time dev site in FiDi (April 01, 2025)

• Avdoo & Partners signs $14.8M refi with Valley National Bank for condo project in Boerum Hill (March 03, 2025)

• Hiwin Group USA pays $21.7M to Hidrock for FiDi dev site, purchased for $38.5M in 2018 (April 09, 2024)

• Yuval Jacob pays $7M to Hidrock Properties for retail in South Slope (March 29, 2024)

• $39M FiDi foreclosure auction set for this month (January 11, 2024)

• Avdoo & Partners pays $20.1M to Hidrock for retail in Boerum Hill (August 01, 2023)

• Benchmark pays Hidrock $26.9M for 3 Chelsea walkups (July 06, 2023)

• Emerald Creek alleges $23.5M Hidrock FiDi loan in maturity default (June 29, 2023)

• Formosa Asset Group pays $4.1M to Hidrock for office condo in Garment District (June 16, 2023)

• Elite Group pays $5.5M to Hidrock for two retail condos in Garment District (May 25, 2023)

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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