Michael Wadman

Vice President

Phipps Houses

Developer, Owner

257 Park Avenue South, 12th Floor New York, NY 10010

902 Broadway 13th Fl New York, NY 10010

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Phipps Houses NYC portfolio

$2.8 billion -elevator 30%, development 17%, D6 12%; Queens 30%, Bronx 29%, Brooklyn 28%*

74th largest portfolio by dollar value

7,507,757 sqft – elevator 53%, condo 17%, walkup 12%; Bronx 52%, Manhattan 26%, Queens 14%

46th largest by SF

115 properties – Bronx 48%, Queens 31%, Manhattan 14%

51th largest

7,146 residential units – Bronx 49%, Manhattan 25%, Queens 18%

34th largest by residential units

0 foreclosures, 0 bankruptcies, 2 other court cases.

Person Activity past 24 months:

Buyer signatory: 1 for $12 million

Borrower signatory: 4 for $269 million

Developer (new building or major alteration): 14 for 378,000 square feet

Top Ten Associated People:

Kerry LaBotz (2), Lauren Connors (2), Ruth Moreira (1), Katelyn Meehan (1), James J. Mannix Jr. (1), Michael X. Mattone (1), Christopher J. Todd (1), Wayne Finkelstein (1), Michael Wadman (1), Alexander Svecherny (1)

Recent activity as signatory:

• Phipps Houses borrowed $56.8 million from NYC Department of Housing Preservation and Development for 549 East 170 Street on April 30, 2026.

• Phipps Houses borrowed $184 million from NYC Housing Development Corporation for 275 Chestnut Street on December 18, 2025.

• Mattone Investors and James J. Mannix Jr. sold 3199 Atlantic Avenue for $12 million to Phipps Houses on November 19, 2025.

• Phipps Houses borrowed $8.2 million from Wells Fargo for 53 Exterior Street on October 16, 2025.

• Phipps Houses borrowed $20 million from Citibank and NYC Department of Housing Preservation and Development for 468 East 159 Street on December 19, 2024.

• Phipps Houses sold 254 Euclid Avenue for $13.5 million to Phipps Houses on December 15, 2022.

• Phipps Houses borrowed $224.6 million from NYC Housing Development Corporation for 254 Euclid Avenue on December 15, 2022.

• Phipps Houses borrowed $10 million from BankUnited for 53 Exterior Street on November 18, 2022.

• Alexander Svecherny sold 866 Courtlandt Avenue for $8.7 million to Phipps Houses on June 08, 2022.

• Wayne Finkelstein sold 53 Exterior Street for $16.1 million to Phipps Houses and Douglaston Development on March 17, 2022.

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