Joy Construction
(Joy Construction Group)
40 Fulton Street 21st Floor New York, NY 10038
People:
Joy Construction NYC portfolio
$1.3 billion -development 51%, elevator 15%, industrial 15%; Manhattan 62%, Bronx 35%, Brooklyn 1%*
178th largest portfolio by dollar value
811,821 sqft – elevator 34%, condo 18%, hotel 15%; Manhattan 57%, Bronx 28%, Brooklyn 14%
575th largest by SF
14 properties – Bronx 57%, Manhattan 31%, Brooklyn 10%
726th largest
1,458 residential units – Manhattan 62%, Brooklyn 31%, Bronx 5%
234th largest by residential units
Company Activity past 24 months:
Buyer company: 2 for $19.8 million
Borrower company: 6 for $323.4 million
Developer (new building or major alteration): 1 for 160,400 square feet
Top Ten Associated Companies:
Valley National Bank (4), NYC Housing Development Corporation (3), Webster Bank (1), Memorial Sloan Kettering (1), Low Income Investment Fund (1), Community Preservation Corporation (1), Metropolitan Commercial Bank (1), Varde Partners (1), Citibank (1), Safehold Inc. (1)
Top Ten Associated People:
Victor Brown (3), Roger Rofe (2), Michael Harrington (1), Anders Gode (1), Ana Rosu Marmann (1), Lauren Connors (1), Doug Heitner (1), Daniel Fahey (1), Frederic Bouley (1)
Recent activity as company:
• Maddd Equities and Joy Construction borrowed $17 million from Valley National Bank for 73 Prince Street on June 22, 2026.
• Joy Construction, Maddd Equities and Bogopa Enterprises borrowed $139.4 million from NYC Housing Development Corporation for 1941 Jerome Avenue on April 16, 2026.
• Joy Construction borrowed $96.5 million from Varde Partners for 411 West 35 Street on July 08, 2025.
• Joy Construction and Maddd Equities borrowed $55 million from Citibank for 405 East 59 Street on July 03, 2025.
• John P. McKenna and Shannon M. Walsh sold 1548 Inwood Avenue for $15 million to Joy Construction and Services for the Underserved on January 23, 2025.
• Joy Construction and Services for the Underserved borrowed $7.3 million from Metropolitan Commercial Bank for 1548 Inwood Avenue on January 23, 2025.
• Joy Construction for Amnon Shalhov filed plans for new building for 160,400 sqft in Mt Eden, Bronx, on January 07, 2025.
• Joy Construction Group and Maddd Equities borrowed $8.2 million from Webster Bank for 1169 River Avenue, Concourse, Bronx on June 26, 2024.
• Community Access sold 1169 River Avenue, Concourse, Bronx for $4.8 million to Joy Construction Group and Maddd Equities on June 26, 2024.
• Maddd Equities and Joy Construction borrowed $12.7 million from Low Income Investment Fund and Community Preservation Corporation for 1184 River Avenue, 1164 River Avenue, 1164 River Avenue, 1184 River Avenue, 1164 River Avenue, and others, Concourse, Bronx on March 21, 2024.
Latest Stories:
• Joy Construction signs $96.5M refi with Varde for 186-unit rental in Hudson Yards (July 15, 2025)
• Joy Const., SUS, pay $15M for 213-unit Mt Eden dev site (March 10, 2025)
• Joy Construction files plans for 213 units in Mt. Eden (January 09, 2025)
• Maddd Equities pays $22.6M for 333-unit dev site in Morris Heights (September 17, 2024)
• Maddd Equities signs $42.5M refi for grocery retail under Queensboro Bridge (July 11, 2023)
• Maddd, Joy sign $302.7M construction loan for 611-unit project in Inwood (February 09, 2023)
Properties: