Capstone Equities

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Capstone Equities portfolio

$157.8 million* – hotel 73%, office 26%; Manhattan 73%, Brooklyn 26%

379th largest portfolio by dollar value

792,058 sqft – hotel 51%, office 48%;

415th largest by SF

6 properties – Manhattan 83%, Brooklyn 16%

1285th largest

0 foreclosures, 0 bankruptcies, 2 other court cases.

Company Activity past 24 months:

Buyer company: 4 for $215 million

Borrower company: 3 for $105.7 million

Lender company: 1 for $0

Top Ten Associated People:

Elchonon Schwartz (1), David J. Mitchell (1), Eric Chan (1), Justin Adelipour (1), Lisa Strauss (1), Amy Lancaster (1), Kurt Locher (1)

Recent activity as company:

Capstone Equities and Leyad borrowed $40 million from One William Street Capital Management for 653 11th Avenue, Hell’s Kitchen, Manhattan on December 20, 2024.

Brookfield Properties sold 653 11th Avenue, Hell’s Kitchen, Manhattan for $57.8 million to Capstone Equities and Leyad on December 20, 2024.

Nightingale Properties sold 14 53rd Street, Sunset Park, Brooklyn for $41.2 million to Capstone Equities on September 12, 2023.

Capstone Equities borrowed $49.5 million from Argentic Investment Management for 14 53rd Street, Sunset Park, Brooklyn on September 07, 2023.

Nightingale Properties sold 14 53rd Street, Sunset Park, Brooklyn for $75 million to Capstone Equities on September 07, 2023.

Capstone Equities and Republic Investment Company borrowed $16.2 million from Maxim Capital Group for 118 East 40th Street, Grand Central, Manhattan on July 21, 2023.

Mitchell Holdings sold 19 West 31st Street, Penn Station, Manhattan for $41 million to Capstone Equities on June 21, 2023.

Nightingale Properties borrowed $0 from Capstone Equities for 14 53rd Street, Sunset Park, Brooklyn on May 26, 2023.

Mitchell Holdings borrowed $0 from Capstone Equities for 19 West 31st Street, Penn Station, Manhattan on January 09, 2023.

Capstone Equities borrowed $0 from Yellowstone Real Estate Investments for 541 Lexington Avenue, Midtown East, Manhattan on April 05, 2022.

Latest Stories:

• Capstone, Leyad pay $57.8M to Brookfield for hotel in Hell’s Kitchen, was $82.7M in 2019 (December 23, 2024)

• Yellowstone signs $90M loan with Fortress for hotel in Midtown East (December 06, 2024)

• Note holder Yellowstone acquires Midtown East hotel with $234M judgment through auction (October 22, 2024)

• October auction set for 697-unit Maxwell hotel with $218M judgment (September 27, 2024)

• Capstone Equities acquires Whale Building in Sunset Park with $49.5M loan from Argentic (September 08, 2023)

• Capstone sues Nightingale CEO over $90M in alleged guarantys at Whale Building (July 13, 2023)

• Capstone Equities acquires Penn Plaza hotel from Mitchell Holdings that had $41M debt (June 22, 2023)

• Capstone Equities buys $88.9M note on Nightingale’s Whale in Sunset Park (May 30, 2023)

• Yellowstone borrows undisclosed amount from Fortress, secured by $170M loan on Maxwell Hotel (January 26, 2023)

• Nightingale sues Capstone over Sunset Park note sale, seeks $20M (January 18, 2023)

Court Records:

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Properties:

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*The Portfolio Value is the city’s Market Value, which is typically 50% or less of actual market value.

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