SKF Development

1144 Evergreen Ave, Bronx, NY 10472

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SKF Development NYC portfolio

$302.5 million -elevator 34%, development 23%, condo 15%; Bronx 99%*

707th largest portfolio by dollar value

438,300 sqft – elevator 41%, condo 36%, D7 16%; Bronx 100%

920th largest by SF

13 properties – Bronx 100%

783th largest

668 residential units – Bronx 100%

465th largest by residential units

Company Activity past 24 months:

Buyer company: 3 for $14.9 million

Seller company: 4 for $70.8 million

Borrower company: 6 for $115.7 million

Developer (new building or major alteration): 1 for 114,610 square feet

Top Ten Associated Companies:

Metropolitan Commercial Bank (11), Popular Bank (6), Valley National Bank (5), Joseph Del Vecchio (2), Doe Fund (1), New York City Acquisition Fund (1), Ladder Capital (1), MBD Community Housing Corp (1), Poular Bank (1)

Top Ten Associated People:

Ross Dahmen (7), Jay Shah (6), Sana Khaliq (2), Richard A. Grani (2), John McDonald (1), Joseph Del Vecchio (1), Derrick A. Lovett (1), Craig Zajac (1), Dennis Graham (1)

Recent activity as company:

• SKF Development ground leased 401 East 184 Street valued at $8.3 million to Joseph Del Vecchio on April 28, 2026.

• SKF Development borrowed $23.8 million from Valley National Bank for 2055 Ryer Avenue on October 08, 2025.

• SKF Development borrowed $5.2 million from Metropolitan Commercial Bank for 2103 Anthony Avenue on April 29, 2025.

• Visabe Corp. sold 2103 Anthony Avenue for $9.4 million to SKF Development on April 29, 2025.

• SKF Development borrowed $17 million from Metropolitan Commercial Bank for 1771 Weeks Avenue on April 10, 2025.

• SKF Development ground leased 1760 Boone Avenue valued at $10.7 million to Joseph Del Vecchio on March 12, 2025.

• SKF Development borrowed $22.6 million from Metropolitan Commercial Bank for 1760 Boone Avenue on January 22, 2025.

• BX Capital sold 2059 Ryer Avenue for $398,000 to SKF Development on December 11, 2024.

• BX Capital sold 2057 Ryer Avenue for $5.1 million to SKF Development on December 11, 2024.

• SKF Development borrowed $37.2 million from Metropolitan Commercial Bank for 2499 Sedgwick Avenue on October 11, 2024.

Latest Stories:

• Ayush Kapahi signs $26.2M refi loan with Popular Bank for 88-unit rental in Bedford Park (July 01, 2025)

• SKF Development pays $9.4M for dev site in Fordham Heights (May 02, 2025)

• SKF Development pays $5.5M to BX Capital for dev site in Fordham Heights (December 27, 2024)

• SKF Development signs $37.2M refi for 133-unit rental in Fordham Manor (November 14, 2024)

• Doe Fund pays $26M to SKF Development for new 65-unit building in Bedford Park (September 18, 2024)

• Better Haven acquires new 58-unit, $23.6M building in Wakefield (August 14, 2024)

• Better Haven Foundation signs $30.4M acquisition loan with M&T Bank for residential elevator in Williamsbridge (July 30, 2024)

• MBD pays $25.8M for 57-unit building in Fordham Heights (July 08, 2024)

• SKF pays $7M to Atlantis Management Group for dev site in Norwood (May 02, 2024)

Properties:

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