SK Development

(SK Development Group, CBSK Ironstate, CBSK Developers)

270 Lafayette Street, Ste. 500 New York, NY 10012

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SK Development portfolio

$300.5 million – condo 49%, Q1 39%; Manhattan 52%, Queens 41%

196th largest portfolio by dollar value

680,364 sqft – condo 69%, walkup 15%;

466th largest by SF

22 properties – Manhattan 54%, Queens 31%

135th largest

623 residential units – Manhattan 79%, Brooklyn 19%

320th 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.

Company Activity past 24 months:

Buyer company: 2 for $46.8 million

Seller company: 0 for $0

Borrower company: 1 for $21.3 million

Lender company: 0 for $0

Developer (new building or major alteration): 0 for 0 square feet

Top Ten Associated Companies:

Sarston Company (1), Giorgio Angelini (1), Tresser Properties (1), Metropolitan Commercial Bank (1), Aareal Capital (1), Deutsche Bank (1), Bay Ridge Automotive Management (1), Madison Realty Capital (1), First Republic Bank (1), 354 Bowery condominium (1)

Top Ten Associated People:

Giorgio Angelini (1), Eric Schwartz (1), John Iacono (1)

Latest Stories:

• 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)

• Arel Capital, CBSK Ironstate sell 3 apartments for $55M at 1228 Madison in Carnegie Hill (June 24, 2022)

• Bay Ridge Automotive pays $26M to CBSK Ironstate for retail condo in Hell’s Kitchen (April 20, 2022)

• CBSK Ironstate signs $70M construction loan with Bank of America for office dev in NoHo (February 28, 2022)

• CBSK signs $45.6M refi loan with JPMorgan for office building in West Village (February 03, 2022)

• CBSK Ironstate, Arel Capital sign $70M senior mortgage loan with Madison Realty for condop in Carnegie Hill (August 25, 2021)

• CBSK Ironstate borrows $7.6M from Sarston Company for LIC condo units (November 13, 2020)

• SK Development, CB Developers borrow $44.6M from Aareal Capital for property in West Village (July 08, 2020)

• Gerald Sussman borrows $15M from First Republic Bank for property in West Village (June 30, 2020)

Properties:

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