SK Development

(CBSK Developers, CBSK Ironstate, SK Development Group)

270 Lafayette Street, Ste. 500 New York, NY 10012

skdevelopment.com

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SK Development NYC portfolio

$469.7 million -mixed-use 37%, condo 25%, elevator 14%; Brooklyn 53%, Manhattan 35%, Queens 11%*

525th largest portfolio by dollar value

761,585 sqft – condo 72%, walkup 14%, Q1 6%; Manhattan 65%, Brooklyn 27%, Queens 7%

662th largest by SF

13 properties – Manhattan 50%, Brooklyn 29%, Queens 20%

846th largest

853 residential units – Manhattan 63%, Brooklyn 36%

416th largest by residential units

6 foreclosures, 0 bankruptcies, 0 other court cases.

Notes

SK Development often partners with CB Developers as CBSK Developers, or with CB Developers and Ironstate Development as CBSK Ironstate.

Company Activity past 24 months:

Buyer company: 1 for $49 million

Seller company: 4 for $23.5 million

Borrower company: 4 for $256.2 million

Developer (new building or major alteration): 3 for 204,250 square feet

Top Ten Associated Companies:

JPMorgan Chase (3), Deutsche Bank (2), Jing Wan (2), Bank of America (1), G4 Capital Partners (1), Canyon Partners (1), Citibank (1), Madison Realty Capital (1), Related Companies (1), Procida Funding (1)

Top Ten Associated People:

Jennifer R. Lewin (2), Jing Wan (2), Jose Garcia (1), Jason Behfarin (1), Christopher Harris (1), Jon Tilli (1), Jonathan M. Kaplan (1), Jonathan Misher (1), Peter Weidman (1), Brian Foley (1)

Recent activity as company:

• CB Developers and SK Development sold 591 3rd Avenue, Murray Hill, Manhattan for $6.2 million to Corum Asset Management on March 20, 2026.

• SK Development, CB Developers and Ironstate Development sold 21-30 44th Drive, Long Island City, Queens for $4.6 million to Jing Wan on December 04, 2025.

• SK Development, CB Developers and Ironstate Development sold 21-30 44th Drive, Long Island City, Queens for $7 million to Jing Wan on December 04, 2025.

• SK Development and CB Developers borrowed $37.2 million from Allegiant Real Estate Capital for Jacob riis park on October 29, 2025.

• Madison Realty Capital, SK Development and CB Developers sold 186 Spring Street for $5.6 million to City Urban Realty on September 19, 2025.

• Macklowe Properties and SK Development borrowed $55 million from Related Companies for 809 Madison Avenue and 30 East 68th Street, Lenox Hill, Manhattan on September 19, 2025.

• Churchill Real Estate Holdings sold 809 Madison Avenue and 30 East 68th Street, Lenox Hill, Manhattan for $49 million to Macklowe Properties and SK Development on September 18, 2025.

• CBSK Developers borrowed $88 million from TYKO Capital for 934 1 Avenue on February 11, 2025.

• CB Developers and SK Development borrowed $76 million from JPMorgan Chase and Citibank for 247 Metropolitan Avenue, 247 Metropolitan Avenue, 247 Metropolitan Avenue, and 247 Metropolitan Avenue, Williamsburg, Brooklyn on December 30, 2024.

• BEB Capital, SK Development, Totem and Ofer Cohen borrowed $96 million from Canyon Partners and JPMorgan Chase for 735 4 Avenue on March 12, 2024.