Scott Shnay
(Scott G. Shnay)
Principal
SK Development
(SK Development Group, CBSK Ironstate, CBSK Developers)
270 Lafayette Street, Ste. 500 New York, NY 10012
SK Development NYC portfolio
$478.1 million -mixed-use 37%, condo 26%, elevator 14%; Brooklyn 52%, Manhattan 34%, Queens 12%*
457th largest portfolio by dollar value
777,674 sqft – condo 72%, walkup 13%, Q1 6%; Manhattan 63%, Brooklyn 26%, Queens 9%
594th largest by SF
13 properties – Manhattan 46%, Brooklyn 26%, Queens 26%
776th largest
817 residential units – Manhattan 61%, Brooklyn 38%
392th largest by residential units
Notes
SK Development often partners with CB Developers as CBSK Developers, or with CB Developers and Ironstate Development as CBSK Ironstate.
Person Activity past 24 months:
Buyer signatory: 1 for $49 million
Seller signatory: 2 for $11.8 million
Borrower signatory: 2 for $125.2 million
Developer (new building or major alteration): 32 for 245,331 square feet
Top Ten Associated Companies:
Deutsche Bank (2), Madison Realty Capital (2), G4 Capital Partners (1), Canyon Partners (1), JPMorgan Chase (1), Procida Funding (1), Churchill Real Estate Holdings (1), City Urban Realty (1), Allegiant Real Estate Capital (1), Tresser Properties (1)
Top Ten Associated People:
Jason Behfarin (1), Christopher Harris (1), Jon Tilli (1), Jonathan M. Kaplan (1), Brian Foley (1), Sorabh Maheshwari (1), Michael Alvandi (1), Randy Reiff (1), Eric Schwartz (1), Giorgio Angelini (1)
Recent activity as signatory:
• CB Developers and SK Development sold 591 3rd Avenue, Murray Hill, Manhattan for $6.2 million to Corum Asset Management on March 20, 2026.
• SK Development and CB Developers borrowed $37.2 million from Allegiant Real Estate Capital for Jacob riis park on October 29, 2025.
• Madison Realty Capital, SK Development and CB Developers sold 186 Spring Street for $5.6 million to City Urban Realty on September 19, 2025.
• Churchill Real Estate Holdings sold 809 Madison Avenue and 30 East 68th Street, Lenox Hill, Manhattan for $49 million to Macklowe Properties and SK Development on September 18, 2025.
• CBSK Developers borrowed $88 million from TYKO Capital for 934 1 Avenue on February 11, 2025.
• BEB Capital, SK Development, Totem and Ofer Cohen borrowed $96 million from Canyon Partners and JPMorgan Chase for 735 4 Avenue on March 12, 2024.
• Scott Shnay filed plans for new building for 173,523 sqft in Turtle Bay, Manhattan, on October 30, 2023.
• Tresser Properties sold 936 1 Avenue for $12.3 million to CBSK Developers on June 14, 2023.
• Giorgio Angelini sold 934 1 Avenue for $34.5 million to CBSK Developers on June 14, 2023.
• CBSK Developers and Foss and Company borrowed $32.5 million from Procida Funding for Jacob riis park on March 10, 2023.
Latest Stories:
• Corum Asset Management pays $6.2M to CBSK for retail in Murray Hill (April 03, 2026)
• City Urban Realty pays $5.6M to Madison, CBSK for retail condo in SoHo (October 07, 2025)
• CBSK Developers plans 86-unit building in Turtle Bay (November 01, 2023)
• CBSK Developers pays $46.8M for corner parcels in Turtle Bay (July 03, 2023)
• Giorgio Angelini pays $6.9M for 4-family in Turtle Bay (March 09, 2023)