Orbach Affordable Housing Solutions

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Orbach Affordable Housing Solutions NYC portfolio

$1.9 billion* – elevator 65%, condo 21%; Manhattan 100%, Bronx 0%

91th largest portfolio by dollar value

2,129,907 sqft – elevator 78%, condo 21%;

158th largest by SF

8 properties – Manhattan 100%, Bronx 0%

1033th largest

1,587 residential units – Manhattan 100%, Bronx 0%

155th largest by residential units

Company Activity past 24 months:

Buyer company: 1 for $402.6 million

Borrower company: 2 for $436.6 million

Top Ten Associated Companies:

Solow Realty & Development (5), Apollo Global Management (2), RXR Realty (1), JPMorgan Chase (1), 2020-K740 (1)

Top Ten Associated People:

Steven Weymouth (4), Jeffrey Horowitz (2), Steve Weymouth (1)

Recent activity as company:

Black Spruce Management and Orbach Affordable Housing Solutions borrowed $290.6 million from Apollo Global Management and RXR Realty for 685 First Avenue, 685 First Avenue, and 685 First Avenue, Murray Hill, Manhattan on February 05, 2025.

Black Spruce Management and Orbach Affordable Housing Solutions borrowed $146 million from Apollo Global Management for 1113 York Avenue, Lenox Hill, Manhattan on February 05, 2024.

• Solow Realty & Development sold 1261 2nd Avenue, Lenox Hill, Manhattan for $402.6 million to Black Spruce Management and Orbach Affordable Housing Solutions on May 01, 2023.

Black Spruce Management and Orbach Affordable Housing Solutions borrowed $110.1 million from 2020-K740 for 420-434 East 61st St, Lenox Hill, Manhattan on December 08, 2022.

• Solow Realty & Development sold 420-434 East 61st St, Lenox Hill, Manhattan for $193.7 million to Black Spruce Management and Orbach Affordable Housing Solutions on December 08, 2022.

• Solow Realty & Development sold 1113 York Avenue, Lenox Hill, Manhattan for $221.3 million to Black Spruce Management and Orbach Affordable Housing Solutions on December 07, 2022.

• Solow Realty & Development sold 530 East 73rd Street and 523 East 72nd Street, Lenox Hill, Manhattan for $410 million to Black Spruce Management and Orbach Affordable Housing Solutions on December 07, 2022.

Black Spruce Management and Orbach Affordable Housing Solutions borrowed $290.6 million from JPMorgan Chase for 685 First Avenue, 685 First Avenue, and 685 First Avenue, Murray Hill, Manhattan on September 29, 2022.

• Solow Realty & Development sold 685 First Avenue, 685 First Avenue, and 685 First Avenue, Murray Hill, Manhattan for $387.5 million to Black Spruce Management and Orbach Affordable Housing Solutions on September 29, 2022.

Latest Stories:

• Black Spruce, Orbach sign $290.6M refi with Apollo, RXR for 408-unit rental in Murray Hill (February 06, 2025)

• Black Spruce, Orbach sign $146M refi with Apollo for 209-unit rental in Lenox Hill (February 06, 2024)

• Black Spruce, Orbach pay $402.6M to Solow Realty for 332-unit rental in Lenox Hill (May 02, 2023)

• Black Spruce, Orbach pay $193.7M to Solow, part of $1.8B deal (December 09, 2022)

• Black Spruce, Orbach pay $631M to Solow for three rentals with 623 units in Lenox Hill (December 08, 2022)

• Black Spruce, Orbach Affordable pay $387.5M to Solow in Murray Hill, part of $1.8B deal (September 30, 2022)

• Solow borrows $186.5M from Walker & Dunlop, fourth recent loan for total above $500M (September 18, 2020)

• Solow borrows $110M from Walker & Dunlop for rental in Lenox Hill, 3rd large loan in month (September 16, 2020)

Properties:

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*The Portfolio Value is a PincusCo estimate based on a property’s recent sale or loan, or multiplying the city’s Market Value by two.

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