Ironstate Development
(Ironstate Holdings, Ironstate, CBSK Ironstate, Ironstate Properties)
50 Washington Street Hoboken, NJ 07030
People:
Ironstate Development NYC portfolio
$122.4 million -hotel 38%, elevator 35%, condo 26%; Manhattan 98%, Queens 1%*
1351th largest portfolio by dollar value
639,983 sqft – condo 69%, elevator 15%, hotel 14%; Manhattan 99%
711th largest by SF
6 properties – Manhattan 69%, Queens 30%
1671th largest
551 residential units – Manhattan 99%
563th 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:
Seller company: 2 for $11.6 million
Borrower company: 1 for $35 million
Top Ten Associated Companies:
Deutsche Bank (3), Jing Wan (2), Bay Ridge Automotive Management (1), East West Bank (1), Bank of America (1), Madison Realty Capital (1), M&T Bank (1), Sarston Company (1)
Top Ten Associated People:
Jing Wan (2), John Iacono (1), Yongli Horowitz (1), Christopher Harris (1), Jon Tilli (1), Jose Garcia (1), Jamie Pasqualone (1)
Recent activity as company:
• SK Development, CB Developers and Ironstate Development sold 21-30 44th Drive, Long Island City, Queens for $7 million to Jing Wan on December 04, 2025.
• SK Development, CB Developers and Ironstate Development sold 21-30 44th Drive, Long Island City, Queens for $4.6 million to Jing Wan on December 04, 2025.
• 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.
Latest Stories:
• Corum Asset Management pays $6.2M to CBSK for retail in Murray Hill (April 03, 2026)
• Ghanshyam Patel pays $3.5M to BBZ Development for commercial condo in NoHo (April 02, 2026)
• Ironstate Development signs $35M refi for The Standard East Village hotel (September 08, 2025)
• Eric Goode ups debt to $40M for fee under new office building in NoHo (February 07, 2025)
• CBSK Ironstate borrows $7.6M from Sarston Company for LIC condo units (November 13, 2020)
Properties: