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

$2.3 billion -elevator 37%, development 14%, condo 10%; Bronx 36%, Brooklyn 34%, Queens 15%*

128th largest portfolio by dollar value

7,211,167 sqft – elevator 61%, condo 17%, walkup 12%; Bronx 55%, Manhattan 27%, Queens 16%

63th largest by SF

116 properties – Bronx 48%, Queens 30%, Manhattan 14%

70th largest

6,997 residential units – Bronx 50%, Manhattan 26%, Queens 22%

50th 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: 5 for $290.5 million

Developer (new building or major alteration): 16 for 378,000 square feet

Top Ten Associated People:

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

Recent activity as signatory:

• Phipps Houses borrowed $21.4 million from Low Income Investment Fund and NYC Department of Housing Preservation and Development for 1987 Daly Avenue on May 21, 2026.

• 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.

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