Stephen Palmese

8751 18th Avenue Brooklyn NY 11214

Person Activity past 24 months:

Borrower signatory: 1 for $18 million

Lender signatory: 1 for $63 million

Top Ten Associated Companies:

First Republic Bank (1), Integritas Capital (1), Carlyle Group (1), Charles Cara (1), Brendan Maddigan (1), Michael Palmese (1), Borough Developers (1), Watermark Capital Group (1), Customers Bank (1)

Top Ten Associated People:

Bentley Zhao (1), Jason Greenberg (1), Charles Cara (1), Brendan Maddigan (1), Meir D. Tabak (1), Michael Tigri (1)

Recent activity as signatory:

• New Empire Corp. borrowed $38 million from Popular Bank for 58-01 Queens Boulevard on November 21, 2025.

• Borough Developers and Watermark Capital Group borrowed $63 million from Integritas Capital for 75 4 Avenue on September 18, 2025.

• New Empire Corp. borrowed $18 million from Integritas Capital for 58-01 Queens Boulevard on February 21, 2025.

• Stephen Palmese, Robert Palmese and Rachel Foster sold 108 Luquer Street for $10.8 million to Carlyle Group on July 20, 2022.

• Rachel Foster sold 23 Carroll Street for $22 million to Charles Cara on June 15, 2022.

• Stephen Palmese and Rachel Foster sold 23 Carroll Street for $16.5 million to Brendan Maddigan and Michael Palmese on May 20, 2022.

• Heights Advisors borrowed $16 million from Customers Bank for 23 Carroll Street on December 22, 2021.

• Columbia Utilitites borrowed $12.9 million from First Republic Bank for 477 Wilson Avenue on December 13, 2019.

Latest Stories:

• Borough Developers, Watermark borrow $63M from Integritas to build Park Slope project (September 30, 2025)

• Borough Developers, Watermark pay $24M to Tolib Mansurov for 99-unit dev site in Park Slope (September 30, 2025)

• Shimon Kleinman of Borough Developers files plans for 99 units in Park Slope (July 21, 2025)

• New Empire signs $18M refi with Integritas for new condo project in Woodside (March 20, 2025)

• Carlyle, Z+G Property sign $20.6M refi for two properties in Brooklyn (February 12, 2025)

• Tolib Mansurov signs $9M loan with Castellan Capital for six rentals in Park Slope (August 15, 2023)

• Bentley Zhao’s New Empire files plans for 131-unit project in Woodside (September 26, 2022)

• Carlyle Group pays $10.8M for 22-unit rental in Carroll Gardens (August 01, 2022)

• New Empire Corp. pays $16.2M for two properties in Woodside (July 26, 2022)

• Charles Cara pays $22M to Rachel Foster for two industrial properties in Columbia Waterfront (July 08, 2022)