David Walsh
Senior Vice President
Breaking Ground
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%
298th 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: 3 for $286.5 million
Borrower signatory: 6 for $828.9 million
Developer (new building or major alteration): 5 for 5,708 square feet
Top Ten Associated Companies:
Low Income Investment Fund (2), NYS Housing Finance Agency (2), UMB Bank (2), Lupoli Holdings Partnership (1), Community Preservation Corporation (1), Tishman Speyer (1), Wells Fargo (1), NYC Department of Housing Preservation and Development (1), NYC Housing Development Corporation (1), Sioni Group (1)
Top Ten Associated People:
Russell Hubley (2), Joseph Onorato (1), Paul A. Galiano (1), Sarah Leitson (1), Leanna Bellmund (1), Andrew Griffith (1), Lauren Connors (1), Payman Yadidi (1)
Recent activity as signatory:
• Tishman Speyer sold Rockaway beach boulevard for $14.5 million to Breaking Ground on June 23, 2026.
• Tishman Speyer borrowed $178.4 million from NYC Housing Development Corporation for Rockaway beach boulevard on June 23, 2026.
• Lupoli Holdings Partnership sold None for $12 million to Breaking Ground on May 19, 2026.
• Breaking Ground borrowed $15.9 million from Community Preservation Corporation and Low Income Investment Fund for None on May 19, 2026.
• David Walsh filed plans for new building for 3,944 sqft in Prince’s Bay, Staten Island, on March 05, 2026.
• Breaking Ground borrowed $71.5 million from UMB Bank for 50 Sparrow Way, East Flatbush, Brooklyn on December 30, 2025.
• Breaking Ground borrowed $66.4 million from UMB Bank for 581 Albany Avenue, East Flatbush, Brooklyn on December 30, 2025.
• Slate Property Group and Breaking Ground borrowed $295.5 million from Wells Fargo, NYS Housing Finance Agency, NYC Department of Housing Preservation and Development and Low Income Investment Fund for 377 7 Avenue on December 19, 2025.
• Sioni Group and Patriarch Equities sold 377 7 Avenue for $260 million to Slate Property Group and Breaking Ground on December 19, 2025.
• Breaking Ground borrowed $201.3 million from NYS Housing Finance Agency for 25 Sparrow Way and 55 Sparrow Way, None, Brooklyn on October 28, 2025.