New York City Housing Authority

People:

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New York City Housing Authority portfolio

$11.5 billion* – elevator 95.0%, walkup 3.0%; Manhattan 50.0%, Brooklyn 25.0%

4th largest portfolio by dollar value

135,326,892 sqft – elevator 96.0%, walkup 3.0%;

2th largest by SF

560 properties – Brooklyn 32%, Manhattan 30%

7th largest

162,284 residential units – Manhattan 32.0%, Bronx 30.0%

1th largest by residential units

0 foreclosures, 0 bankruptcies, 6 other court cases.

Company Activity past 24 months:

Buyer company: 2 for $151.5 million

Seller company: 8 for $360.9 million

Lender company: 4 for $1.3 billion

Top Ten Associated People:

Spyridon Papakonstadinou (2), Yiannes Einhorn (2), Rick Gropper (2), Timothy I. Henkel (2), Nicholas Lembo (2), Karim Hutson (2), Yvonne Stennett (2), Yarojin Robinson (2), Jed Resnick (1), Andrew Lebwohl (1)

Recent activity as company:

Gilbane Inc. borrowed $445.9 million from Merchants Capital and New York City Housing Authority for N/A Amsterdam Avenue, Harlem, Manhattan on January 10, 2025.

New York City Housing Authority sold N/A Amsterdam Avenue, Harlem, Manhattan for $4.9 million to Gilbane Inc. on January 10, 2025.

New York City Housing Authority sold 159 Alaska Street, Port Richmond, Staten Island for $34 million to BFC Partners on December 30, 2024.

New York City Housing Authority sold 107 West 143rd Street and 111 West 143rd Street, Harlem, Manhattan for $6.8 million to Genesis Companies, Community League of the Heights and Lemor Development Group on October 15, 2024.

New York City Housing Authority sold 2537 Adam C Powell Blvd, 2441 Adam C Powell Blvd, 2453 Adam C Powell Blvd, 2449 Adam C Powell Blvd, 131 West 143rd Street, and others, Harlem, Manhattan for $105.2 million to Genesis Companies, Community League of the Heights and Lemor Development Group on October 15, 2024.

New York City Housing Authority sold 3475 Bivona Street, 3550 Bivona Street, 2440-2456 Boston Road, and 3031-3035 Middletown Road, Eastchester, Bronx for $34.3 million to Beacon Communities and MBD Community Housing on October 07, 2024.

New York City Housing Authority for Matthew Charney filed plans for new building for 202,790 sqft in Morrisania, Bronx, on August 20, 2024.

Pennrose borrowed $29.9 million from New York City Housing Authority for 333 Central Avenue, 1240 Gates Avenue, 200 Palmetto Street, 269 Central Avenue, 87 Palmetto Street, and others, Bushwick, Brooklyn on March 08, 2024.

Pennrose borrowed $21.1 million from New York City Housing Authority for 235 Linden Street, 357 Wilson Avenue, 333 Wilson Avenue, 580 Central Avenue, 690 Evergreen Avenue, and others, Bushwick, Brooklyn on March 07, 2024.

Jonathan Rose Companies sold 222 East 104th Street, East Harlem, Manhattan for $13.9 million to Stern Properties and New York City Housing Authority on December 21, 2023.

Latest Stories:

• Gilbane Inc. signs $4.9M lease with NYCHA, borrows $445.9M for renovations (January 13, 2025)

• BFC Partners signs $34M, 99-year lease with NYCHA for 634 units in Port Richmond (December 31, 2024)

• Genesis Companies, Lemor sign 99-year leases in Harlem with NYCHA valued at $112M, borrow $384M (October 16, 2024)

• Beacon Communities, MBD sign 99-year ground lease with NYCHA valued at $34.4M, PACT deal (October 08, 2024)

• Artimus signs $210M construction loan for 490-unit development in Harlem (June 07, 2024)

• BRP, Fairstead, Urbane sign $23.3M ground lease, get $635.6M loan to rehab NYCHA units (December 15, 2023)

• Arker Companies signs 99-year ground lease valued at $137.6M with NYCHA for PACT deal in Bronx (October 13, 2023)

• Artimus pays $16.9M to Cityscapes Realty for 50% stake in two Harlem dev sites (September 07, 2023)

• Camber signs $783M rehab loan for Bronx portfolio (July 10, 2023)

• Dantes Partners signs $139.9M acquisition loan with Walker & Dunlop for three residential elevator properties in Manhattan (January 20, 2023)

Court Records:

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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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