Radson Development

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Radson Development portfolio

$26.2 million* – elevator 82%, development 11%; Queens 61%, Brooklyn 25%

1454th largest portfolio by dollar value

262,885 sqft – elevator 92%, specialty 7%;

983th largest by SF

8 properties – Bronx 37%, Brooklyn 25%

1044th largest

568 residential units – Brooklyn 55%, Queens 44%

386th largest by residential units

0 foreclosures, 0 bankruptcies, 1 other court case.

Company Activity past 24 months:

Buyer company: 2 for $38.2 million

Seller company: 2 for $43.1 million

Borrower company: 2 for $167.5 million

Top Ten Associated Companies:

NYC Housing Development Corporation (4), Enclave Equities (1), Paceline Equity Partners (1), Manhattan Bible Church (1), Webster Bank (1), Leviticus Fund (1), Yechiel Newhouse (1), Ponce Bank (1)

Top Ten Associated People:

Ruth Moreira (1), Jonathan Seplowitz (1), Kyle Volluz (1), Harry Jones (1), Randy Gruenberg (1), Greg Maher (1), Yechiel Newhouse (1), Carlos P. Naudon (1)

Recent activity as company:

The Bridge and Radson Development borrowed $19.6 million from Webster Bank and Leviticus Fund for 3816 9th Avenue, Inwood, Manhattan on August 01, 2024.

• Manhattan Bible Church sold 3816 9th Avenue, Inwood, Manhattan for $15.8 million to The Bridge and Radson Development on August 01, 2024.

Arker Companies, Radson Development and Maddd Equities sold 950 Westchester Avenue and 950 Westchester Avenue, Longwood, Bronx for $8.6 million to Yechiel Newhouse on October 30, 2023.

Radson Development sold 29-14 39th Avenue, Long Island City, Queens for $34.5 million to Paceline Equity Partners on July 27, 2023.

Radson Development borrowed $147.9 million from NYC Housing Development Corporation for 748 East 241st Street, Wakefield, Bronx on June 30, 2023.

Enclave Equities sold 748 East 241st Street, Wakefield, Bronx for $22.4 million to Radson Development on June 30, 2023.

Radson Development borrowed $25 million from Ponce Bank for 29-14 39th Avenue, Long Island City, Queens on June 29, 2022.

Radson Development for Dan Rad filed plans for new building for 97,286 sqft in East Morrisania, Bronx, on June 22, 2022.

Radson Development borrowed $58.9 million from NYC Housing Development Corporation for 583 Emerald Street, East New York, Brooklyn on January 07, 2022.

Radson Development borrowed $65.7 million from NYC Housing Development Corporation for 573 Emerald Street, East New York, Brooklyn on January 12, 2021.

Latest Stories:

• The Bridge, Radson pay $15.8M for 189-unit dev site in Inwood (August 02, 2024)

• Paceline Equity Partners signs $24.4M acquisition loan with Ponce Bank for LIC hotel (July 28, 2023)

• Paceline Equity pays $34.5M to Radson Development for LIC hotel (July 28, 2023)

• Radson Development pays $22.4M to Enclave Equities for 251-unit dev site in Wakefield (July 03, 2023)

• Radson Development signs $25M refi with Ponce Bank for LIC hotel (June 30, 2022)

• Radson Development borrows $65.7M from NYC for development in East New York (January 13, 2021)

• Radson Development borrows $107M from NYC Housing Development Corp. for new construction in Far Rockaway (January 08, 2020)

• Hp Cornaga Commons I Housing Dev. Fund Co., Inc. paid $6M to Abe Rosenthal LLC (August 08, 2019)

• Radroc LLC obtained financing of $7M from New York City Acquisition Fund LLC (August 08, 2019)

Court Records:

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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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