Robert Riggs

Community Preservation Corporation

Lender

220 East 42nd Street, 16th Floor New York, New York 10017

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Community Preservation Corporation NYC portfolio

$188 million* – elevator 93.0%, walkup 6.0%; Brooklyn 100.0%, Manhattan 0.0%

772th largest portfolio by dollar value

599,143 sqft – elevator 92%, walkup 7%;

523th largest by SF

7 properties – Brooklyn 100%, Manhattan 0%

1146th largest

564 residential units – Brooklyn 100%, Manhattan 0%

380th largest by residential units

12 foreclosures, 1 bankruptcy, 0 other court cases.

Person Activity past 24 months:

Lender signatory: 1 for $8.5 million

Top Ten Associated Companies:

Madison Realty Capital (1)

Top Ten Associated People:

Brian Shatz (1)

Recent activity as company:

Black Spruce Management borrowed $91.2 million from Goldman Sachs for 80-08 135th Street, 81-10 135th Street, 515 St Marks Avenue, 1063 Pacific Street, 663 Classon Avenue, and others, Briarwood, Queens on December 09, 2024.

Madison Realty Capital borrowed $0 from Peter Stern for 3052 Brighton 1st Street, Brighton Beach, Brooklyn on September 24, 2024.

Metropolitan Realty Group borrowed $14.1 million from Greystone & Co. for 366 Pennsylvania Avenue, 378 Pennsylvania Avenue, 350 Pennsylvania Avenue, and 354 Pennsylvania Avenue, East New York, Brooklyn on September 13, 2024.

RYCO Capital borrowed $128.2 million from Derby Copeland Capital for 156 2nd Avenue, 151 2nd Avenue, 145 2nd Avenue, 141 2nd Avenue, 131 2nd Avenue, and others, East Village, Manhattan on August 29, 2024.

Madison Realty Capital borrowed $8.5 million from Community Preservation Corporation for 3052 Brighton 1st Street, Brighton Beach, Brooklyn on February 09, 2024.

Latest Stories:

• Metropolitan Realty signs $14.1M refi with Greystone for four walkups in East New York (September 16, 2024)

• RYCO Capital signs $128.2M loan with Derby Copeland for nine properties in East Village (August 30, 2024)

• Sam Sprei pays $13.1M to Madison Realty Capital for 41-unit rental in Brighton Beach following bankruptcy (August 08, 2024)

• RYCO Capital pays Jonis Realty $103M for more East Village rentals, part of $132M deal (July 17, 2024)

• Madison Realty Capital acquires bankrupt 41-unit rental in Brighton Beach, $24M transfer value (February 12, 2024)

• Jonis Realty signs $22.5M refi for 3 walkup properties in East Village (December 23, 2022)

• Black Spruce pays $87.2M to Musso Group for two residential elevator buildings in Briarwood (January 14, 2022)

• Black Spruce signs $21M refi with Sterling National for 14 properties in Crown Heights (November 15, 2021)

• All Year sells Crown Heights rentals for $22.1M to affordable housing venture (July 28, 2021)

*The Portfolio Value is a PincusCo estimate based on a property’s recent sale or loan, or multiplying the city’s Market Value by two.

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