Richard Herman
(Rick Herman)
Vice President
Prana Investments
(Prana Real Estate Equity Funds, Prana Growth Fund)
Owner
500 Washington Street, Suite 400 San Francisco, CA 94111
1995 Broadway 10th Floor New York, NY 10023
75 Broadway, Suite 203, San Francisco, California 94111
Prana Investments NYC portfolio
$537.5 million -walkup 62%, elevator 37%; Bronx 67%, Manhattan 32%*
416th largest portfolio by dollar value
3,345,938 sqft – walkup 60%, elevator 38%; Bronx 76%, Manhattan 23%
135th largest by SF
104 properties – Bronx 74%, Manhattan 25%
59th largest
3,688 residential units – Bronx 74%, Manhattan 25%
78th largest by residential units
3 foreclosures, 0 bankruptcies, 0 other court cases.
Person Activity past 24 months:
Seller signatory: 1 for $13 million
Borrower signatory: 12 for $104.6 million
Top Ten Associated Companies:
Community Preservation Corporation (9), ConnectOne Bank (4), Peapack-Gladstone Bank (3), John T. Satriale (2), Signature Bank (2), Dime Community Bank (2), Jungsun Lee (1), Lilmor Management (1), New York Community Bank (1), Enterprise Asset Management (1)
Top Ten Associated People:
Robert Riggs (9), Stephen Toth (3), John T. Satriale (2), Jungsun Lee (1), Michael Strauss (1), Morris Lieberman (1), Howard Trachtenberg (1), Martin Kirzner (1), Elizabeth Arato (1), Richard Scharf (1)
Recent activity as signatory:
• Prana Investments and NYC Housing Partnership borrowed $10.4 million from Community Preservation Corporation for 1384 St Nicholas Avenue on August 27, 2025.
• Prana Investments borrowed $5.7 million from Community Preservation Corporation for 3115 Sedgwick Avenue on August 27, 2025.
• Prana Investments borrowed $7.2 million from Community Preservation Corporation for 1324 Riverside Drive on August 27, 2025.
• Prana Investments borrowed $5.5 million from Community Preservation Corporation for 20 Sherman Avenue on August 27, 2025.
• Prana Investments and NYC Housing Partnership borrowed $11.5 million from Community Preservation Corporation for 1407 St Nicholas Avenue on August 27, 2025.
• Prana Investments and NYC Housing Partnership borrowed $7 million from Community Preservation Corporation for 2376 Amsterdam Avenue on August 27, 2025.
• Prana Investments and NYC Housing Partnership borrowed $5.8 million from Community Preservation Corporation for 36 Sickles Street on August 27, 2025.
• Prana Investments and NYC Housing Partnership borrowed $5.1 million from Community Preservation Corporation for 525 West 212 Street on August 27, 2025.
• Prana Investments and NYC Housing Partnership borrowed $11.1 million from Community Preservation Corporation for 1398 St Nicholas Avenue on August 27, 2025.
• Prana Investments sold 2714 Broadway for $13 million to Jungsun Lee on July 09, 2025.
Latest Stories:
• NJ-tied group pays $13M to Prana Investments for retail, office in Upper West Side (July 25, 2025)
• Abro Management pays $3.7M to Prana Investments for retail in Inwood (October 06, 2022)
• Prana pays $7.8M for 55-unit elevator building in Washington Heights (April 01, 2022)
• Denali pays $11.5M to Prana for 73-unit elevator building in Morris Heights (February 08, 2022)
• Prana Investments pays $3.2M for 20-unit rental in Harlem (November 23, 2021)
• Prana Investments pays $13M to Lilmor Management for two rentals in Inwood (October 27, 2021)