Jeremy Shell
TF Cornerstone
(TF Cornerstone Group)
Owner
387 Park Ave S 7th Floor New York, NY 10016
TF Cornerstone NYC portfolio
$8.5 billion -elevator 65%, development 12%, office 9%; Manhattan 49%, Queens 33%, Brooklyn 16%*
14th largest portfolio by dollar value
12,889,926 sqft – elevator 80%, condo 6%, office 6%; Manhattan 52%, Queens 31%, Brooklyn 16%
28th largest by SF
41 properties – Manhattan 50%, Brooklyn 28%, Queens 21%
222th largest
11,857 residential units – Queens 43%, Manhattan 40%, Brooklyn 15%
9th largest by residential units
0 foreclosures, 0 bankruptcies, 1 other court case.
Person Activity past 24 months:
Buyer signatory: 4 for $333.1 million
Borrower signatory: 4 for $1.2 billion
Top Ten Associated Companies:
Wells Fargo (5), PNC Bank (3), M&T Bank (2), Pearl Realty Management (2), Prologis (1), Nationwide Life Insurance Company (1), NYS Housing Finance Agency (1), Trinity Place Holdings (1), Pacolet Milliken (1), William F. Wallace (1)
Top Ten Associated People:
Wendy LeBlanc (2), Christian Adrian (2), Jack Guttman (2), Michael C. Beidelman (1), Thehbia Hiwot (1), Tara Suaya (1), Ryan Cawley (1), Clay Adams (1), William F. Wallace (1), Gary G. Terrinoni (1)
Recent activity as signatory:
• TF Cornerstone borrowed $347.4 million from M&T Bank for 2-21 Malt Drive on October 31, 2025.
• William F. Wallace ground leased 137 East 57 Street valued at $159 million to TF Cornerstone on August 04, 2025.
• Brooklyn Hospital Center sold 155 Ashland Place for $0 to TF Cornerstone on August 01, 2025.
• TF Cornerstone borrowed $230.1 million from Wells Fargo for 525 10 Avenue on December 02, 2024.
• TF Cornerstone borrowed $204.9 million from M&T Bank for 46-10 Center Boulevard on November 27, 2024.
• TF Cornerstone borrowed $448.3 million from PNC Bank for None on November 25, 2024.
• Pearl Realty Management sold 12 Oak Street for $30 million to TF Cornerstone on July 31, 2024.
• Pearl Realty Management sold 12 Noble Street for $144.1 million to TF Cornerstone on July 31, 2024.
• TF Cornerstone borrowed $115 million from Wells Fargo for 660 12th Avenue, Hell’s Kitchen, Manhattan on September 29, 2023.
• TF Cornerstone borrowed $307 million from PNC Bank for 2-21 Malt Drive on January 11, 2023.
Latest Stories:
• Fortress sues Charles Cohen seeking $28.3M in a alleged carry guaranty (March 17, 2025)
• TF Cornerstone signs $230.1M refi for 318-unit rental in Meatpacking District (January 03, 2025)
• TF Cornerstone signs $448.3M refi for 798-unit rental in Prospect Heights (December 03, 2024)