Nightingale Properties

Private Equity

1430 Broadway #1605, New York, NY 10018

Nightingale Properties NYC portfolio

$84 million -development 63%, office 36%; Manhattan 100%*

1655th largest portfolio by dollar value

59,757 sqft – office 100%; Manhattan 100%

3137th largest by SF

4 properties – Manhattan 50%, Brooklyn 50%

2235th largest

1 foreclosure, 0 bankruptcies, 6 other court cases.

Company Activity past 24 months:

Seller company: 1 for $10.4 million

Borrower company: 1 for $0

Top Ten Associated People:

Justin Adelipour (2), Igal Namdar (1), Steven Kashanian (1), Lisa L. Kim (1)

Recent activity as company:

• Raven Capital Management on July 01, 2025 bought a loan with an original principal of $40 million from Related Companies, signed by Jeffrey Romanow, secured by 2234 3 Avenue, when owned by Real Estate Equities Corporation and Nightingale Properties.

• Nightingale Properties ground leased 22 East 46 Street valued at $10.4 million to Namdar Realty Group and Klosed Properties on October 31, 2024.

• Nightingale Properties sold 14 53 Street for $75 million to Capstone Equities on August 25, 2023.

• Nightingale Properties sold 14 53 Street for $41.2 million to Capstone Equities on August 25, 2023.

• Namdar Realty Group and Klosed Properties on August 11, 2023 bought a loan with an original principal of $30 million from East West Bank, signed by Steve Chang, secured by 22 East 46 Street, when owned by Nightingale Properties.

• InterVest Capital Partners on July 21, 2023 bought a loan with an original principal of $143 million from TPG Real Estate Partners, signed by Greg Kaliman, secured by 141 Crosby Street, when owned by Nightingale Properties and InterVest Capital Partners.

• Capstone Equities on May 17, 2023 bought a loan with an original principal of $88.9 million from TPG Real Estate Partners, signed by Deborah Ginsberg, secured by 14 53 Street, when owned by Nightingale Properties.

• Eastern Generation sold 5224 1 Avenue for $0 to Nightingale Properties on January 24, 2023.

• Nightingale Properties ground leased 18 East 60 Street valued at $79.6 million to East West Bank on September 24, 2021.

• Nightingale Properties borrowed $18 million from East West Bank for 22 East 46 Street on May 12, 2021.

Latest Stories:

• Nightingale improperly invested $1M in REEC deal, $2.3M in SoHo: bankruptcy trustee (July 14, 2025)

• Raven Capital buys $40M note secured by REEC’s new office building in East Harlem (July 10, 2025)

• Namdar, Klosed acquire $10.4M Nightingale office ground lease in Grand Central, in lieu of foreclosure (November 08, 2024)

• Urban Edge hands back $88.8M Kingswood Center in Sheepshead Bay to CMBS lender (August 06, 2024)

• $67M June auction set for Urban Edge’s Kingswood Center mall (June 04, 2024)

• Namdar, Klosed file $30M pre-foreclosure at Nightingale Grand Central office building (November 20, 2023)

• Capstone Equities acquires Whale Building in Sunset Park with $49.5M loan from Argentic (September 08, 2023)

• Namdar, Klosed buy $30M note secured by Nightingale Properties office building in Grand Central (September 07, 2023)

• InterVest-controlled entity buys $143M note secured by Nightingale, InterVest SoHo office building, foreclosure now off (August 10, 2023)

• Capstone sues Nightingale CEO over $90M in alleged guarantys at Whale Building (July 13, 2023)

Court Records:

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Properties:

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