Simon Kaufman signs $70M refi with Greystone for 151-unit rental in Mott Haven

Simon Kaufman through the entity 336 Grand Concourse LLC as borrower signed a refi loan with lender Greystone & Co. through the entity Greystone Select Company II LLC valued at $70 million for the 151-unit residential elevator building (D7) at 322 Grand Concourse in Mott Haven, Bronx.
The deal closed on June 12, 2025 and was recorded on June 20, 2025. The prior lender was Greystone & Co. which held debt that had an original loan amount of $63 million.The property has 129,750 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $539 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on October 23, 2018, for $7.9 million. The signatory for Simon Kaufman was Simon Kaufman. The signatory for Greystone & Co. was Tricia Baker.

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Simon Kaufman, head officer and Naftuli Mossberg, agent. The business entity is 336 Grand Concourse Llc. The 129,750-square-foot property generated revenue of $4.1 million or $32 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 151 residential units in Mott Haven has 129,750 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 61 feet and is 100 feet deep with a total lot size of 13,917 square feet. The zoning is C6-2A which allows for up to 6 times floor area ratio (FAR) for commercial and up to 6.02 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $21.5 million. The most recent loan totaled $63 million and was provided by Greystone & Co. on September 12, 2023.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received two housing violations and $50 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on October 11, 2023. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of nine of the 14 commercial properties representing 515,004 square feet of the 556,410 square feet. The largest owner is Jacob Schwimmer, followed by Simon Kaufman and then Reda Group.
On the tax block, there was one new building construction project filed totaling 196,902 square feet. It is a 141-unit, 196,902 square-foot residential (R-2) building submitted by Atlantic Development Group and filed by Peter Fine with plans filed December 20, 2021 and it has not been permitted yet.

The majority, or 83 percent of the 556,410 square feet of built space are elevator buildings, with walkup buildings next occupying 7 percent of the space.

The borrower

The PincusCo database currently indicates that Simon Kaufman owned at least 21 commercial properties with 528 residential units in New York City with 482,897 square feet and a city-determined market value of $35.2 million. (Market value is typically about 50% of actual value.) The portfolio has $482.2 million in debt, with top three lenders as Greystone & Co., SCALE Lending, and BridgeCity Capital respectively. Within the portfolio, the bulk, or 76 percent of the 482,897 square feet of built space are elevator properties, with walkup properties next occupying 20 percent of the space. The bulk, or 56 percent of the built space, is in Bronx, with Brooklyn next at 30 percent of the space.

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