Lam Generation

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Lam Generation portfolio

$104.1 million* – hotel 91%, retail 7%; Manhattan 98%, Queens 1%

546th largest portfolio by dollar value

339,662 sqft – hotel 85%, retail 12%;

835th largest by SF

6 properties – Manhattan 66%, Queens 33%

1294th largest

Company Activity past 24 months:

Seller company: 1 for $42.2 million

Borrower company: 2 for $142 million

Top Ten Associated Companies:

Investors Bank (1), Magna Hospitality Group (1), Webster Apartments (1), Metropolitan Commercial Bank (1), MetLife (1), Gary Tse (1), Shanghai Commercial Bank (1), East West Bank (1), Ditmars Associates (1)

Top Ten Associated People:

Roy J. Bernstein (1), Dennis Graham (1), Ross Dahman (1), Justin Besspiata (1)

Recent activity as company:

Lam Generation borrowed $120 million from MetLife for 112-118 West 25th Street, Chelsea, Manhattan on November 06, 2023.

Lam Generation borrowed $22 million from Metropolitan Commercial Bank for 21 West 37th Street, Grand Central, Manhattan on August 01, 2023.

Lam Generation sold 229 Duffield Street, Downtown Brooklyn, Brooklyn for $42.2 million to Webster Apartments on June 06, 2023.

Lam Generation borrowed $5 million from Shanghai Commercial Bank for 112 West 25th Street, Chelsea, Manhattan on August 19, 2020.

• Gary Tse sold 55 Chrystie Street, Chinatown, Manhattan for $28.6 million to Lam Generation on April 22, 2020.

Lam Generation borrowed $14 million from East West Bank for 55 Chrystie Street, Chinatown, Manhattan on April 22, 2020.

• Ditmars Associates sold 29 Street, 22-70 31st Street, Astoria, Queens for $7.4 million to Lam Generation on April 16, 2020.

Lam Generation sold 113 West 24th Street, Chelsea, Manhattan for $74.2 million to Magna Hospitality Group on October 21, 2019.

Lam Generation borrowed $48.2 million from Investors Bank for Front Street, Financial District, Manhattan on July 08, 2019.

Latest Stories:

• Magna Hospitality signs $105M refi with Wells Fargo for hotel in Chelsea (October 23, 2024)

• Lam Generation signs $120M refi loan with MetLife for hotel in Chelsea (November 07, 2023)

• Lam Generation signs $22M refi with Metropolitan Commercial Bank for hotel in Grand Central (August 02, 2023)

• Webster Apartments pays $42.2M to Lam Generation for hotel in Downtown Brooklyn (June 07, 2023)

• Jeffrey Lam of Lam Generation pays $29M for bankrupt property in Chinatown (April 23, 2020)

• Jeffrey Lam borrows $14M from East West Bank to acquire commercial property in Chinatown (April 23, 2020)

• Lam Generation pays $7M to Ditmars Associates for property in Astoria (April 17, 2020)

• Magna Hospitality Group borrows $62M from Wells Fargo for new hotel construction in Chelsea (November 01, 2019)

• Magna Hospitality Group pays $74M to Lam Generation for hotel development site in Chelsea (October 22, 2019)

• Lam Group borrows $27M from Flushing Bank for hotel in Brooklyn Heights (October 03, 2019)

Properties:

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*The Portfolio Value is the city’s Market Value, which is typically 50% or less of actual market value.

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