Ironstate Development

(Ironstate, Ironstate Holdings, Ironstate Properties, CBSK Ironstate)

50 Washington Street Hoboken, NJ 07030

ironstate.com

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Ironstate Development NYC portfolio

$130.8 million -hotel 35%, elevator 33%, condo 31%; Manhattan 91%, Queens 8%*

1267th largest portfolio by dollar value

656,072 sqft – condo 70%, elevator 15%, hotel 14%; Manhattan 96%, Queens 3%

688th largest by SF

6 properties – Manhattan 60%, Queens 40%

1637th largest

551 residential units – Manhattan 99%

549th largest by residential units

Notes

Ironstate Development often partners with SK Development and CB Developers often partner, under the brand CBSK Ironstate.

Company Activity past 24 months:

Borrower company: 1 for $35 million

Top Ten Associated Companies:

Deutsche Bank (3), Bay Ridge Automotive Management (1), Bank of America (1), Madison Realty Capital (1), East West Bank (1), M&T Bank (1), Sarston Company (1)

Top Ten Associated People:

John Iacono (1), Christopher Harris (1), Jon Tilli (1), Jose Garcia (1), Yongli Horowitz (1), Jamie Pasqualone (1)

Recent activity as company:

• Ironstate Development borrowed $35 million from East West Bank for 25 Cooper Square on August 01, 2025.

• CBSK Ironstate, Ironstate Development, SK Development and CB Developers borrowed $166.2 million from Deutsche Bank for 547 West 47th Street, Hell’s Kitchen, Manhattan on August 04, 2022.

• Arel Capital and CBSK Ironstate sold 1234 Madison Avenue for $19.7 million to The buyer on June 15, 2022.

• Arel Capital and CBSK Ironstate sold 1234 Madison Avenue for $24.8 million to The buyer on June 07, 2022.

• Arel Capital and CBSK Ironstate sold 1234 Madison Avenue for $10.5 million to The buyer on May 16, 2022.

• CBSK Ironstate sold 547 West 47th Street, Hell’s Kitchen, Manhattan for $26 million to Bay Ridge Automotive Management on March 29, 2022.

• CB Developers, SK Development, Ironstate Development and CBSK Ironstate borrowed $70 million from Bank of America for 364 Bowery on January 27, 2022.

• CBSK Ironstate borrowed $70 million from Madison Realty Capital for 1234 Madison Avenue on August 03, 2021.

• Ironstate Development borrowed $40 million from M&T Bank for 25 Cooper Square on May 28, 2021.

• CBSK Ironstate borrowed $7.6 million from Sarston Company for 21-30 44th Drive, 21-30 44th Drive, 21-30 44th Drive, 21-30 44th Drive, 21-30 44th Drive, and others, Long Island City, Queens on October 16, 2020.