SK Development

(SK Development Group, CBSK Ironstate, CBSK Developers)

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

skdevelopment.com

People:

To see the 1 person from this company you need a Professional level subscription

Subscribe ($125/month)

SK Development NYC portfolio

$478.1 million -mixed-use 37%, condo 26%, elevator 14%; Brooklyn 52%, Manhattan 34%, Queens 12%*

457th largest portfolio by dollar value

777,674 sqft – condo 72%, walkup 13%, Q1 6%; Manhattan 63%, Brooklyn 26%, Queens 9%

594th largest by SF

13 properties – Manhattan 46%, Brooklyn 26%, Queens 26%

776th largest

817 residential units – Manhattan 61%, Brooklyn 38%

392th largest by residential units

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: 2 for $11.8 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), Corum Asset Management (1), Aareal Capital (1), Metropolitan Commercial Bank (1), TYKO Capital (1), Sarston Company (1), First Republic Bank (1), Bay Ridge Automotive Management (1), G4 Capital Partners (1)

Top Ten Associated People:

Jennifer R. Lewin (2), Keith Greenberg (1), Adi Chugh (1), John Iacono (1), Jason Behfarin (1), Christopher Harris (1), Jon Tilli (1), Jonathan Misher (1), Jonathan M. Kaplan (1), Jose Garcia (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 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.

• SK Development for Scott Shnay filed plans for new building for 173,523 sqft in Turtle Bay, Manhattan, on October 30, 2023.

• Tresser Properties sold 936 1 Avenue for $12.3 million to CBSK Developers on June 14, 2023.