Phipps Houses

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Phipps Houses portfolio

$671.2 million* – elevator 57.0%, condo 19.0%; Bronx 41.0%, Manhattan 39.0%

84th largest portfolio by dollar value

7,018,402 sqft – elevator 57.0%, condo 18.0%;

39th largest by SF

140 properties – Bronx 47%, Queens 32%

58th largest

6,132 residential units – Bronx 57.0%, Manhattan 30.0%

28th largest by residential units

0 foreclosures, 0 bankruptcies, 2 other court cases.

Company Activity past 24 months:

Buyer company: 4 for $44 million

Seller company: 1 for $33.7 million

Borrower company: 3 for $337.9 million

Top Ten Associated Companies:

NYC Housing Development Corporation (9), Estate of Rita Stark (3), Citibank (2), Phipps Houses (2), Sgro family (2), Wayne Finkelstein (1), Alexander Svecherny (1), Richman Group (1), BankUnited (1), Joseph Daniel Zola (1)

Top Ten Associated People:

Elizabeth Farrell (3), Lauren Connors (2), Bruce Sontag (2), Eileen T. Sgro (2), Agostino Vona (2), Michael Wadman (1), Wayne Finkelstein (1), Alexander Svecherny (1), Joseph Daniel Zola (1), Ruth Moreira (1)

Recent activity as company:

• Phipps Houses borrowed $20 million from Citibank and NYC Department of Housing Preservation and Development for 3103 3rd Avenue, Melrose, Bronx on January 07, 2025.

• Rita Stark sold 16-05 Village Lane, 16-05 Village Lane, 16-05 Village Lane, 15-14 Central Avenue, 15-14 Central Avenue, and others, Far Rockaway, Queens for $2.5 million to Phipps Houses on November 22, 2024.

• Phipps Houses borrowed $99 million from NYC Housing Development Corporation for 50-25 Barnett Avenue, Sunnyside, Queens on July 15, 2024.

• Estate Of Rita Stark sold 16-26 Village Lane, 16-26 Village Lane, and 16-26 Village Lane, Far Rockaway, Queens for $4.4 million to Phipps Houses on May 17, 2024.

• Phipps Houses for Michael Wadman filed plans for new building for 376,520 sqft in Cypress Hills, Brooklyn, on January 29, 2024.

• Phipps Houses borrowed $218.9 million from NYC Housing Development Corporation for N/A Redfern Avenue, N/A Augustina Avenue, 16-25 Redfern Avenue, and 20-47 Nameoke Avenue, Far Rockaway, Queens on January 24, 2024.

• Oceanside Capital and Phipps Houses sold 444 2nd Avenue, Kips Bay, Manhattan for $33.7 million to Phipps Houses on September 29, 2023.

• Joseph Daniel Zola sold 800 East 182nd Street, Belmont/Little Italy, Bronx for $3.5 million to Phipps Houses on July 26, 2023.

• Richman Group sold 305-311 Bowery, East Village, Manhattan for $5.7 million to Phipps Houses on January 06, 2023.

• Phipps Houses borrowed $224.6 million from NYC Housing Development Corporation for 247 Chestnut Street, Cypress Hills, Brooklyn on December 29, 2022.