South Bronx Overall Economic Development Corporation

South Bronx Overall Economic Development Corporation portfolio

$23.8 million* – walkup 55%, industrial 24%; Manhattan 65%, Brooklyn 21%

1566th largest portfolio by dollar value

216,899 sqft – walkup 63%, elevator 21%;

1121th largest by SF

21 properties – Bronx 47%, Manhattan 42%

451th largest

157 residential units – Manhattan 61%, Brooklyn 38%

1048th largest by residential units

8 foreclosures, 0 bankruptcies, 0 other court cases.

Company Activity past 24 months:

Buyer company: 3 for $24.8 million

Borrower company: 1 for $12.3 million

Top Ten Associated Companies:

Joseph Maio (1), Richard Pogostin (1), Tiffany Lumber (1), Metropolitan Commercial Bank (1), Raza Development Fund, Inc. (1), Alden Torch Financial (1)

Top Ten Associated People:

Joseph Maio (1), Richard Pogostin (1), Christopher D. McDonald (1)

Recent activity as company:

Maddd Equities, South Bronx Overall Economic Development Corporation and SoBro borrowed $12.3 million from Metropolitan Commercial Bank for 422 East 165th Street, 1004 Brook Avenue, 416 East 165th Street, 1014 Brook Avenue, 412 East 165th Street, and others, Morrisania, Bronx on July 07, 2023.

Tiffany Lumber sold 422 East 165th Street, 1004 Brook Avenue, 416 East 165th Street, 1014 Brook Avenue, 412 East 165th Street, and others, Morrisania, Bronx for $16 million to Maddd Equities, South Bronx Overall Economic Development Corporation and SoBro on July 07, 2023.

Joseph Maio sold 1000 Brook Avenue and 996 Brook Avenue, Morrisania, Bronx for $4.6 million to SoBro and South Bronx Overall Economic Development Corporation on April 17, 2023.

Richard Pogostin sold 425 East 164th Street and 421 East 164th Street, Morrisania, Bronx for $4.2 million to SoBro and South Bronx Overall Economic Development Corporation on April 17, 2023.

Alden Torch Financial sold 163 West 136th Street, 531 Lenox Avenue, 102 West 137th Street, 106 West 137th Street, 110 West 137th Street, and others, Central Harlem, Manhattan for $5.2 million to South Bronx Overall Economic Development Corporation on April 26, 2021.

South Bronx Overall Economic Development Corporation borrowed $5.4 million from Raza Development Fund, Inc. for Fort George Hill, Fort George Avenue, Washington Heights, Manhattan on September 14, 2020.

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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