Korman Communities

(AKA, SHK Management, AKA Residences, AKA Hotels)

https://korman.com/

580 West Germantown Pike Suite 200 Plymouth Meeting, PA 19462

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Korman Communities NYC portfolio

$261.3 million -hotel 100%; Manhattan 100%*

890th largest portfolio by dollar value

424,244 sqft – hotel 100%; Manhattan 100%

1018th largest by SF

3 properties – Manhattan 100%

2866th largest

322 residential units – Manhattan 100%

891th largest by residential units

1 foreclosure, 0 bankruptcies, 0 other court cases.

Company Activity past 24 months:

Buyer company: 3 for $188.9 million

Seller company: 1 for $39.8 million

Borrower company: 3 for $196.5 million

Top Ten Associated Companies:

Prime Finance (3), Capital One (2), MF1 Capital (1), Capstone Equities (1), Republic Investment Company (1)

Top Ten Associated People:

Stephen Klufas (2), Jonathan Pfeil (1), Avi Kollenscher (1)

Recent activity as company:

• CalSTRS and BlackRock sold 131 West 44 Street for $63.9 million to Korman Communities on July 22, 2026.

• CalSTRS and BlackRock sold 48 West 58 Street for $72.8 million to Korman Communities on July 22, 2026.

• CalSTRS and BlackRock sold 334 East 56 Street for $52.2 million to Korman Communities on July 22, 2026.

• Korman Communities borrowed $80 million from Prime Finance for 48 West 58 Street on July 22, 2026.

• Korman Communities borrowed $62.5 million from Prime Finance for 131 West 44 Street on July 22, 2026.

• Korman Communities borrowed $54 million from Prime Finance for 334 East 56 Street on July 22, 2026.

• Vanbarton Group and Korman Communities sold 85 West Broadway and 85 West Broadway, Financial District, Manhattan for $39.8 million to Capstone Equities and Republic Investment Company on August 01, 2025.

• Korman Communities borrowed $48 million from MF1 Capital for 334 East 56 Street on April 25, 2023.

• Korman Communities borrowed $54.8 million from Capital One for 48 West 58 Street on April 07, 2023.

• Korman Communities borrowed $37.7 million from Capital One for 131 West 44 Street on April 07, 2023.

Latest Stories:

• Korman buys out CalSTRS, BlackRock at extended-stay hotels in Manhattan valued at $220M (July 30, 2026)

• Rabsky pays $30M to Braha, ISJ, Jenel, Buhm Roe, Nakash for office in FiDi, Blackstone was foreclosing (May 28, 2026)

• Kings Capital, partner, sell 7-unit walkup in NoMad for $7.6M (November 24, 2025)

• Capstone, Republic Investment pay $39.8M to Vanbarton for Tribeca hotel (August 07, 2025)

• Sage Hall Partners signs $35M loan with Citizens Bank for hotel in Grand Central (January 07, 2025)

• Blackstone files $25M pre-foreclosure at FiDi high rise dev site (October 07, 2024)

• Courts roundup for pre-foreclosures: $9.4M in East Williamsburg, $7.6M in Greenwood Hts., $4.5M in PLG (May 17, 2024)

• Kings Capital pays $3.4M for 7-unit mixed-use in NoMad (January 05, 2024)

• CMBS trustee files $31.5M pre-foreclosure at reportedly half-vacant office building in Grand Central (September 15, 2023)

• Korman signs $48M refi loan with MF1 Capital for AKA Sutton Place hotel (May 04, 2023)

Court Records:

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Properties:

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