Joy Construction

(Joy Construction Group)

40 Fulton Street 21st Floor New York, NY 10038

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$1.2 billion* – development 67.0%, elevator 16.0%; Manhattan 60.0%, Bronx 23.0%

141th largest portfolio by dollar value

710,461 sqft – elevator 38%, condo 21%;

470th largest by SF

17 properties – Bronx 58%, Manhattan 29%

506th largest

1,644 residential units – Manhattan 55%, Brooklyn 28%

141th largest by residential units

Buyer company: 2 for $19.8 million

Borrower company: 5 for $339.2 million

Developer (new building or major alteration): 1 for 160,400 square feet

Victor Brown (3), Roger Rofe (2), John P. McKenna (1), Shannon M. Walsh (1), Doug Heitner (1), Daniel Fahey (1), Frederic Bouley (1), Christopher Lacovara (1), Michael Harrington (1)

• Joy Construction and Services for the Underserved borrowed $7.3 million from Metropolitan Commercial Bank for 1540 Inwood Avenue and 1545 Jerome Avenue, Mt Eden, Bronx on March 07, 2025.

• John P. McKenna and Shannon M. Walsh sold 1540 Inwood Avenue and 1545 Jerome Avenue, Mt Eden, Bronx for $15 million to Joy Construction and Services for the Underserved on March 07, 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 July 15, 2024.

• Community Access sold 1169 River Avenue, Concourse, Bronx for $4.8 million to Joy Construction Group and Maddd Equities on July 15, 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 26, 2024.

• Joy Construction and Azimuth Development Group borrowed $168 million from NYC Housing Development Corporation for 2069 Bruckner Boulevard, Unionport, Bronx on July 13, 2023.

• Maddd Equities and Joy Construction borrowed $143 million from Valley National Bank for N/A Tillary Street, Downtown Brooklyn, Brooklyn on May 18, 2023.

• Maddd Equities and Joy Construction borrowed $302.7 million from NYC Housing Development Corporation for 375 West 207th Street, Inwood, Manhattan on February 08, 2023.

• Joy Construction and MADDD Equities borrowed $50 million from Valley National Bank for 305 West 48th Street, Hell’s Kitchen, Manhattan on January 31, 2023.