David Beer

Director Of Real Estate Development

Developer, Owner

505 8th Ave 5th Floor New York, NY 10018

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$768.6 million* – elevator 52%, development 24%, specialty 22%; Brooklyn 46%, Manhattan 24%, Queens 24%

225th largest portfolio by dollar value

1,157,999 sqft – elevator 77%, specialty 21%, condo 1%;

305th largest by SF

10 properties – Bronx 30%, Queens 30%, Manhattan 20%

752th largest

1,190 residential units – Brooklyn 57%, Bronx 27%, Manhattan 15%

213th largest by residential units

Buyer signatory: 2 for $183 million

Borrower signatory: 6 for $749 million

• Hudson Companies and BRP Companies borrowed $294.5 million from NYC Housing Development Corporation for 671 Brook Avenue, 625 Brook Avenue, and 503 East 153rd Street, Longwood, Bronx on April 24, 2025.

• Tishman Speyer and Breaking Ground borrowed $142.8 million from NYS Housing Finance Agency for N/A Beach 53rd Street, Edgemere, Queens on March 27, 2025.

• Tishman Speyer sold N/A Beach 53rd Street, Edgemere, Queens for $10.9 million to Breaking Ground on March 27, 2025.

• Breaking Ground borrowed $120.8 million from NYS Housing Finance Agency for 1760 3rd Avenue, Carnegie Hill, Manhattan on December 19, 2024.

• Breaking Ground borrowed $163.5 million from Enterprise Community Partners and City of New York for 1760 3rd Avenue, Carnegie Hill, Manhattan on June 26, 2024.

• CenterSquare Investment Management, Principal Real Estate Investors and 60 Guilders sold 1760 3rd Avenue, Carnegie Hill, Manhattan 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 455 East 142nd Street, Mott Haven, Bronx on September 12, 2023.

• Breaking Ground borrowed $14.1 million from Low Income Investment Fund for 202 West 24th Street, Chelsea, Manhattan on June 28, 2023.

• Breaking Ground borrowed $105.8 million from NYS Housing Finance Agency and NYC Department of Housing Preservation and Development for 97-04 Sutphin Boulevard and 97-04 Sutphin Boulevard, Jamaica, Queens on March 30, 2023.

• Community Healthcare Network sold 97-04 Sutphin Boulevard and 97-04 Sutphin Boulevard, Jamaica, Queens for $6 million to Breaking Ground on March 30, 2023.