David Beer
Director Of Real Estate Development
Breaking Ground
Developer, Owner
505 8th Ave 5th Floor New York, NY 10018
Breaking Ground NYC portfolio
$1.4 billion -elevator 29%, hotel 28%, development 13%; Manhattan 42%, Brooklyn 39%, Queens 15%*
163th largest portfolio by dollar value
1,642,642 sqft – elevator 54%, hotel 28%, specialty 15%; Manhattan 48%, Brooklyn 34%, Bronx 15%
297th largest by SF
19 properties – Brooklyn 31%, Queens 31%, Manhattan 21%
537th largest
1,963 residential units – Manhattan 36%, Brooklyn 34%, Bronx 16%
163th largest by residential units
Person Activity past 24 months:
Buyer signatory: 1 for $10.9 million
Borrower signatory: 3 for $558.2 million
Top Ten Associated Companies:
NYS Housing Finance Agency (3), NYC Department of Housing Preservation and Development (2), Low Income Investment Fund (1), CenterSquare Investment Management (1), Principal Real Estate Investors (1), 60 Guilders (1), Enterprise Community Partners (1), City of New York (1), Community Healthcare Network (1), Tishman Speyer (1)
Top Ten Associated People:
Russell Hubley (2), Emily Lehman (1), Molly Anderson (1), Dean Ravosa (1), John Carrick (1), Troy A. Koerselman (1), Robert M. Hayes (1), Paul A. Galiano (1), Michael B. Benner (1), Lauren Connors (1)
Recent activity as signatory:
• Hudson Companies and BRP Companies borrowed $294.5 million from NYC Housing Development Corporation for 671 Brook Avenue on April 24, 2025.
• Tishman Speyer sold Beach 53 street for $10.9 million to Breaking Ground on March 27, 2025.
• Tishman Speyer and Breaking Ground borrowed $142.8 million from NYS Housing Finance Agency for Beach 53 street on March 27, 2025.
• Breaking Ground borrowed $120.8 million from NYS Housing Finance Agency for 1768 3 Avenue on December 19, 2024.
• CenterSquare Investment Management, Principal Real Estate Investors and 60 Guilders sold 1768 3 Avenue for $172.1 million to Breaking Ground on June 26, 2024.
• Breaking Ground borrowed $163.5 million from Enterprise Community Partners and City of New York for 1768 3 Avenue on June 26, 2024.
• Breaking Ground borrowed $13.2 million from NYC Department of Housing Preservation and Development for 445 East 142 Street on September 12, 2023.
• Breaking Ground borrowed $14.1 million from Low Income Investment Fund for 212 West 24 Street on June 28, 2023.
• Community Healthcare Network sold None for $6 million to Breaking Ground on March 30, 2023.
• Breaking Ground borrowed $105.8 million from NYS Housing Finance Agency and NYC Department of Housing Preservation and Development for None on March 30, 2023.