Eric Rosenbaum

Project Renewal

Project Renewal|Monadnock Development|Project Renewal portfolio

$51 million* – N9 35.0%, N2 24.0%; Manhattan 94.0%, Bronx 5.0%

934th largest portfolio by dollar value

309,084 sqft – N9 48.0%, elevator 15.0%;

881th largest by SF

10 properties – Manhattan 70%, Bronx 20%

839th largest

360 residential units – Manhattan 53.0%, Bronx 46.0%

572th largest by residential units

Person Activity past 24 months:

Buyer signatory: 1 for $12.5 million

Borrower signatory: 2 for $109.7 million

Top Ten Associated Companies:

NYS Dormitory Authority (2), City of New York (2), UMB Bank (1), Prudential Financial (1), Wells Fargo (1), NYS Housing Finance Agency (1), NYS Homeless Housing and Assistance Corporation (1), NYC Housing Development Corporation (1), New Providence (Shelter) Deal ID No. 50008926 (1), GFP Real Estate (1)

Top Ten Associated People:

Jill Fullmer (1), J. Brent Allen (1), Julie M. Behrens (1), Brian Steinwurtzel (1), Dan Coughlin (1)

Recent activity as company:

Monadnock Development and Project Renewal borrowed $102.9 million from NYC Housing Development Corporation and New Providence (Shelter) Deal ID No. 50008926 for 217 East 45th Street and 215 East 45th Street, Grand Central, Manhattan on January 26, 2024.

Project Renewal borrowed $6.8 million from NYS Dormitory Authority for 448 W 48th St, Hell’s Kitchen, Manhattan on September 21, 2023.

GFP Real Estate sold 200 Varick Street, Hudson Square, Manhattan for $12.5 million to Project Renewal on May 09, 2023.

Project Renewal borrowed $87.5 million from UMB Bank and Prudential Financial for 288 Jackson Street, East Williamsburg, Brooklyn on December 27, 2022.

Project Renewal borrowed $61.9 million from NYS Housing Finance Agency, City of New York and NYS Homeless Housing and Assistance Corporation for 2880 Jerome Avenue, Bedford Park, Bronx on November 04, 2022.

Project Renewal borrowed $5.1 million from NYS Dormitory Authority for 960 Tinton Avenue, Morrisania, Bronx on June 10, 2022.

Project Renewal borrowed $75 million from Wells Fargo for 537 West 59th Street, Lincoln Square, Manhattan on March 03, 2022.

Manhattan Community Access sold 537 West 59th Street, Lincoln Square, Manhattan for $19.3 million to Project Renewal on March 03, 2022.

Project Renewal borrowed $6.4 million from City of New York for 642 St Nicholas Avenue, Central Harlem, Manhattan on December 24, 2020.

*The Portfolio Value is the city’s Market Value, which is typically 50% or less of actual market value.

Leave a Reply