Fred Ohebshalom
(Fred Shalom)
Empire Management
Owner
Empire Management NYC portfolio
$587.2 million -elevator 61%, H1 18%, walkup 13%; Manhattan 98%, Queens 1%*
377th largest portfolio by dollar value
1,515,490 sqft – elevator 71%, office 9%, H1 8%; Manhattan 96%, Queens 3%
323th largest by SF
38 properties – Manhattan 90%, Queens 10%
242th largest
1,168 residential units – Manhattan 100%
280th largest by residential units
8 foreclosures, 1 bankruptcy, 8 other court cases.
Person Activity past 24 months:
Seller signatory: 4 for $84.9 million
Borrower signatory: 7 for $156.6 million
Top Ten Associated Companies:
New York Community Bank (5), Barclays (3), Dime Community Bank (2), Derby Copeland Capital (2), Highpoint Property Group (1), Capital One (1), Santander Bank (1), Valley National Bank (1), Signature Bank (1), Oritani Bank (1)
Top Ten Associated People:
Adam Scotto (3), Jesse Hutcher (2), Drew Popkin (1), Matthew P. Cullen (1), Louis Ciniglio (1), Olga Bogrova (1), Charles Przekop (1), Michael Alvandi (1), Payman Yadidi (1), Aziz Kabbaj (1)
Recent activity as signatory:
• Empire Management borrowed $21.5 million from Derby Copeland Capital for 222 8 Avenue on April 30, 2026.
• Empire Management borrowed $23.5 million from Wells Fargo for 3 West 36 Street on March 17, 2026.
• Empire Management borrowed $12.5 million from Amalgamated Bank for 347 5 Avenue on February 24, 2026.
• Empire Management borrowed $49 million from LMF Commercial for 355 3 Avenue on October 08, 2025.
• Empire Management sold 363 7 Avenue for $21.3 million to Sioni Group on February 26, 2025.
• Empire Management and Gatsby Enterprises sold 248 West 72 Street for $40 million to City Urban Realty on February 20, 2025.
• Empire Management borrowed $25.5 million from Barclays for 648 Fort Washington Avenue on November 18, 2024.
• Empire Management, Gatsby Enterprises and Keystone Management borrowed $15 million from Derby Copeland Capital for 248 West 72 Street on July 26, 2024.
• Empire Management sold 418 East 81 Street for $4.3 million to The buyer on July 02, 2024.
• Empire Management borrowed $9.6 million from Barclays for 330 Cabrini Boulevard on May 31, 2024.
Latest Stories:
• Empire Management signs $12.5M refi with Amalgamated for office in Midtown South (March 24, 2026)
• City Urban Realty pays $40M to Ohebshaloms for 88-unit rental in Lincoln Square (March 07, 2025)
• Madison Realty files $81.5M pre-foreclosure at Empire Management hotel in NoMad (August 16, 2024)
Court Records: