Abraham Hoffman
(Abraham J. Hoffman)
Bushburg Properties
Owner
Bushburg Properties portfolio
$217.6 million* – office 69.0%, elevator 25.0%; Manhattan 69.0%, Brooklyn 25.0%
282th largest portfolio by dollar value
1,753,520 sqft – office 62.0%, elevator 24.0%;
187th largest by SF
11 properties – Brooklyn 81%, Manhattan 9%
767th largest
1,037 residential units – Brooklyn 95.0%, Queens 4.0%
236th largest by residential units
0 foreclosures, 0 bankruptcies, 1 other court case.
Person Activity past 24 months:
Buyer signatory: 1 for $160 million
Seller signatory: 1 for $22.4 million
Borrower signatory: 3 for $280.9 million
Developer (new building or major alteration): 22.0 for 1,096,528 square feet
Top Ten Associated Companies:
Cross River Bank (2), Vanbarton Group (1), Valley National Bank (1), Webster Bank (1), Rudin Management (1), Pine Financial Ltd. (1), Carlyle Group (1), Z+G Property Group (1), Kearny Bank (1), UMB Bank (1)
Top Ten Associated People:
Justin B. Kleinman (1), Victor S. Brown Jr. (1), Roland M. Cablayan (1), Yonathon Whitehouse (1), Allan J. Weiss (1), Andrew Migdon (1), Annice Conolly (1), Jason Hart (1), Kenneth Stevenson (1), Eva Weber (1)
Recent activity as company:
• Bushburg Properties borrowed $130 million from MF1 Capital for 2840 Atlantic Avenue, 191 Schenck Avenue, and 260 Barbey Street, East New York, Brooklyn on December 02, 2024.
• Bushburg Properties borrowed $134.4 million from Pine Financial Ltd. for 110 Maiden Lane, Financial District, Manhattan on September 18, 2024.
• Rudin Management sold 110 Maiden Lane, Financial District, Manhattan for $160 million to Bushburg Properties on September 18, 2024.
• Bushburg Properties sold 180 Bainbridge Street, Bedford Stuyvesant, Brooklyn for $22.4 million to Carlyle Group and Z+G Property Group on October 17, 2023.
• Bushburg Properties borrowed $16.5 million from Cross River Bank for 1087 Flushing Avenue and 125 Knickerbocker Avenue, East Williamsburg, Brooklyn on July 12, 2023.
• Bushburg Properties borrowed $105 million from Valley National Bank for 2840 Atlantic Avenue, East New York, Brooklyn on June 21, 2022.
• Bushburg Properties borrowed $37.5 million from Webster Bank for 88-132 Chauncey Street, Bedford-Stuyvesant, Brooklyn on June 21, 2022.
• Bushburg Properties borrowed $26 million from Kearny Bank for 55-27 Myrtle Avenue, Ridgewood, Queens on April 14, 2022.
• Vanbarton Group sold 117 Grattan Street, East Williamsburg, Brooklyn for $16.5 million to Bushburg Properties on April 12, 2022.
• Bushburg Properties borrowed $13.2 million from Cross River Bank for 2840 Atlantic Avenue, East New York, Brooklyn on February 10, 2022.
Latest Stories:
• Bushburg Properties signs $130M refi for 640-unit complex in East New York (December 03, 2024)
• Bushburg files plans for 500-unit FiDi conversion at former Rudin office tower (October 14, 2024)
• Bushburg pays $160M for 80 Pine, borrows $134M (September 18, 2024)
• Bushburg Properties signs $16.5M refi for two properties in East Williamsburg (July 13, 2023)
• Bushburg signs $105M construction loan for 320-unit project in East New York (June 22, 2022)
• Vanbarton Group sells 86-unit rental to Bushburg for $16.5M in East Williamsburg (April 13, 2022)