David Beer
Director Of Real Estate Development
Breaking Ground
Developer, Owner
505 8th Ave 5th Floor New York, NY 10018
Breaking Ground NYC portfolio
$1.3 billion -elevator 29%, hotel 29%, development 14%; Manhattan 43%, Brooklyn 40%, Queens 14%*
178th largest portfolio by dollar value
1,550,070 sqft – elevator 52%, hotel 30%, specialty 15%; Manhattan 50%, Brooklyn 36%, Bronx 11%
318th largest by SF
15 properties – Brooklyn 40%, Manhattan 26%, Queens 20%
669th largest
1,601 residential units – Manhattan 44%, Brooklyn 42%, Bronx 13%
216th largest by residential units
Person Activity past 24 months:
Buyer signatory: 2 for $183 million
Borrower signatory: 4 for $721.7 million
Top Ten Associated Companies:
NYS Housing Finance Agency (3), NYC Department of Housing Preservation and Development (2), Community Healthcare Network (1), Enterprise Community Partners (1), City of New York (1), CenterSquare Investment Management (1), Principal Real Estate Investors (1), 60 Guilders (1), Tishman Speyer (1), NYC Housing Development Corporation (1)
Top Ten Associated People:
Russell Hubley (2), Robert M. Hayes (1), Dean Ravosa (1), John Carrick (1), Troy A. Koerselman (1), Paul A. Galiano (1), Michael B. Benner (1), Lauren Connors (1), Yosef Elishayev (1), Emily Lehman (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.
• Breaking Ground borrowed $163.5 million from Enterprise Community Partners and City of New York for 1768 3 Avenue on June 26, 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 $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.