Priyanka Garg
Managing Director
Mack Real Estate Group
Mack Real Estate Group portfolio
(NYC’s “Market Value,” 50% or less of actual value)
$502 million – hotel 28%, condo 25%; Manhattan 55%, Brooklyn 38%
116th largest portfolio by dollar value
2,123,527 sqft – condo 25%, walkup 18%;
150th largest by SF
53 properties – Manhattan 69%, Brooklyn 18%
104th largest
1,487 residential units – Brooklyn 52%, Manhattan 47%
147th largest by residential units
39 foreclosures, 0 bankruptcies, 6 other court cases.
Person Activity past 24 months:
Buyer signatory: 0 for $0
Seller signatory: 0 for $0
Borrower signatory: 0 for $0
Lender signatory: 1 for $270 million
Developer (new building or major alteration): 0 for 0 square feet
Top Ten Associated Companies:
Al Faisal Holding (1), Related Companies (1), Chetrit Group (1)
Top Ten Associated People:
Mohammed Abdelqader Darwish Al Ramahi (1), Andrew Rosen (1), Meyer Chetrit (1)
Recent activity as signatory:
• Marx Development Group borrowed $88.8 million from Madison Realty Capital for 450 11th Avenue, Hudson Yards, Manhattan on February 27, 2024.
• Al Faisal Holding borrowed $270 million from Mack Real Estate Group for 790 Seventh Avenue, Midtown West, Manhattan on October 16, 2023.
• Hersha Hospitality Trust borrowed $51 million from Monarch Alternative Capital for 517 Lexington Avenue and 517 Lexington Avenue, Midtown East, Manhattan on September 07, 2023.
• Chetrit Group borrowed $120.5 million from Mack Real Estate Group for 250 West 43rd Street, Times Square, Manhattan on August 29, 2022.
• Arch Companies borrowed $48.4 million from CIM Group for 88 University Place, Greenwich Village, Manhattan on June 21, 2022.
• Marx Development Group borrowed $195 million from Rialto Capital for 461-469 West 34th Street, Hudson Yards, Manhattan on May 12, 2022.
• Extell Developmentand Bluestone Group borrowed $0 from Centennial Bank for 603 West 45th Street, 533 West 27th Street, 616 West 46th Street, 604 West 46th Street, 616 11th Avenue, and others, Hell’s Kitchen, Manhattan on May 06, 2022.
• Related Companies borrowed $45 million from Mack Real Estate Group for 517 West 35th Street, 511 West 35th Street, 506 West 36th Street, and 512 West 36th Street, Hell’s Kitchen, Manhattan on October 28, 2021.