Adam Singer
Managing Director / Head Of Asset Management And Servicing
Rialto Management Group
(Rialto Capital Management, Rialto Capital Advisors, Rialto Capital, Rialto Real Estate Fund, RREF)
Lender
200 South Biscayne Blvd, Suite 3550, Miami, FL 33131
767 5th Ave #21a New York, NY 10153
Rialto Management Group NYC portfolio
$272.1 million* – office 66%, hotel 14%, condo 9%; Manhattan 97%, Brooklyn 2%
614th largest portfolio by dollar value
230,967 sqft – office 57%, hotel 29%, elevator 6%;
1120th largest by SF
7 properties – Manhattan 87%, Brooklyn 12%
1087th largest
27 residential units – Manhattan 70%, Brooklyn 29%
2941th largest by residential units
81 foreclosures, 0 bankruptcies, 17 other court cases.
Person Activity past 24 months:
Buyer signatory: 2 for $43 million
Seller signatory: 1 for $2.4 million
Top Ten Associated Companies:
Madison International Realty (1), Caihong Chen (1), Caiyun Chen (1), Mingsen Chen (1), Shuigun Chen (1), Lion Cub Development (1), Highstone Capital (1)
Top Ten Associated People:
Ronald M. Dickerman (1), Ephraim Diamond (1), David Elbaz (1)
Recent activity as signatory:
• Andrew Weber borrowed $4.5 million from Popular Bank for 106 Thatford Avenue and 441 Rockaway Avenue, Brownsville, Brooklyn on March 31, 2025.
• Caihong Chen, Caiyun Chen, Mingsen Chen and Shuigun Chen sold 70 Broad Street, Financial District, Manhattan for $20 million to RSS WFCM2015-NXS2-NY WAM LLC and Rialto Capital Advisors on March 14, 2025.
• Rialto Capital Management sold 597 Broadway, SoHo, Manhattan for $2.4 million to Lion Cub Development and Highstone Capital on December 23, 2024.
• Delshah Capital borrowed $5.5 million from Delshah Capital for 761 7th Avenue, Midtown West, Manhattan on December 31, 2024.
• Vipul Patel, Jai Patel, Krishna Mehta, Chandra Mehta and Jagruti Patel borrowed $5.5 million from New Millennium Bank for 139-09 Archer Avenue, Jamaica, Queens on May 20, 2024.
• Aurora Capital Associates borrowed $8.8 million from Israel Discount Bank for 543 Broadway, SoHo, Manhattan on October 09, 2024.
• First Atlantic Capital borrowed $0 from 7G Realty for 123 Lafayette Street, Little Italy, Manhattan on July 24, 2024.
• Benchmark Real Estate Group borrowed $20 million from Starwood Property Trust for 43 White Street, Tribeca, Manhattan on June 27, 2024.
• Shashin S. Gandhi borrowed $14.2 million from Series 2019-C17 for 442 West 36th Street, Hudson Yards, Manhattan on June 11, 2024.
• Madison International Realty sold 94 Court Street, Brooklyn Heights, Brooklyn for $23 million to RSS UBSBB2013-C6-NY MCS LLC on October 24, 2023.
Latest Stories:
• Lender takes back landmarked 70 Broad with $20M bid (March 20, 2025)
• Allen Franco pays $4.9M to Gindi Capital for two properties in Fordham Heights (February 04, 2025)
• Vipul Patel, partners sign $5.5M refi for hotel in Jamaica (November 01, 2024)
• Note buyer files $14.9M pre-foreclosure at Little Italy office (August 21, 2024)
• Benchmark signs $20M refi with Starwood for 17-unit rental in Tribeca (July 12, 2024)
• Shashin Gandhi pays $18.2M for hotel in Hudson Yards (June 27, 2024)
• Family owners of mixed-use FiDi building file $16M bankruptcy (May 20, 2024)