Urban Resource Institute
People:
Urban Resource Institute NYC portfolio
$249.1 million* – N2 61.0%, development 22.0%; Bronx 54.0%, Manhattan 37.0%
639th largest portfolio by dollar value
82,730 sqft – N2 47%, elevator 37%;
2177th largest by SF
8 properties – Manhattan 50%, Bronx 37%
1022th largest
291 residential units – Bronx 76%, Manhattan 12%
657th largest by residential units
Company Activity past 24 months:
Buyer company: 7 for $161 million
Borrower company: 7 for $201.7 million
Developer (new building or major alteration): 1 for 67,942 square feet
Top Ten Associated Companies:
UMB Bank (2), Migdol Organization (2), KeyBank (2), Heights Advisors (2), Jonathan Faust (2), Michael Faust (2), Jonathan Feigenbaum (2), 951 Olmstead Avenue Contract-Backed Pass-Through Trust (1), TD Bank (1), Enterprise Community Partners (1)
Top Ten Associated People:
Aaron Migdol (2), Jonathan Feigenbaum (2), Neal Lazar (1), Charles Wise (1), Howard M. Brickner (1)
Recent activity as company:
• Urban Resource Institute for Charles Carroll filed plans for new building for 67,942 sqft in Harlem, Manhattan, on September 25, 2024.
• Urban Resource Institute borrowed $13 million from Enterprise Community Partners for 487 West 129th Street, Harlem, Manhattan on June 21, 2024.
• Jonathan Faust, Michael Faust and Jonathan Feigenbaum sold 487 West 129th Street, Harlem, Manhattan for $10 million to Urban Resource Institute on June 21, 2024.
• Urban Resource Institute borrowed $13.3 million from KeyBank for 478 West 130th Street, Harlem, Manhattan on June 21, 2024.
• Jonathan Faust, Michael Faust and Jonathan Feigenbaum sold 478 West 130th Street, Harlem, Manhattan for $15.9 million to Urban Resource Institute on June 21, 2024.
• Urban Resource Institute borrowed $15.2 million from TD Bank for 1317 New York Avenue, East Flatbush, Brooklyn on May 29, 2024.
• Heights Advisors sold 1317 New York Avenue, East Flatbush, Brooklyn for $16.8 million to Urban Resource Institute on May 29, 2024.
• Urban Resource Institute borrowed $72.7 million from 951 Olmstead Avenue Contract-Backed Pass-Through Trust for 951 Olmstead Avenue and N/A Bruckner Expressway, Unionport, Bronx on March 22, 2024.
• Heights Advisors sold 951 Olmstead Avenue and 2086 Bruckner Expressway, Unionport, Bronx for $64 million to Urban Resource Institute on March 13, 2024.
• Urban Resource Institute borrowed $32.1 million from UMB Bank for 2250 Adam C Powell Blvd and 2332 Adam C Powell Blvd, Harlem, Manhattan on February 08, 2024.
Latest Stories:
• Urban Resource Institute pays $25.9M for vacant lots in Harlem (June 24, 2024)
• Urban Resource Institute pays $16.8M for 34-unit apartment in East Flatbush (May 30, 2024)
• Urban Resource Institute signs $32.1M loan for two properties in Harlem (February 09, 2024)
Properties: