TF Cornerstone
TF Cornerstone portfolio
$3 billion* – elevator 85.0%, condo 7.0%; Manhattan 57.0%, Queens 31.0%
18th largest portfolio by dollar value
11,530,638 sqft – elevator 89.0%, condo 6.0%;
22th largest by SF
41 properties – Manhattan 51%, Brooklyn 24%
242th largest
11,857 residential units – Queens 43.0%, Manhattan 40.0%
8th largest by residential units
0 foreclosures, 0 bankruptcies, 1 other court case.
Company Activity past 24 months:
Buyer company: 2 for $174.1 million
Borrower company: 4 for $998.4 million
Top Ten Associated Companies:
Wells Fargo (8), PNC Bank (4), Pearl Realty Management (2), M&T Bank (2), MSD Partners (1), Trinity Place Holdings (1), Pacolet Milliken (1), Nationwide Life Insurance Company (1), Apple Bank for Savings (1), Brighthouse Life Insurance Company (1)
Top Ten Associated People:
Christian Adrian (2), Jack Guttman (2), , Micheal Dell (1), Clay Adams (1), Michael C. Beidelman (1), Ryan Cawley (1), Thehbia Hiwot (1), Tara Suaya (1), Wendy LeBlanc (1)
Recent activity as company:
• TF Cornerstone borrowed $230.1 million from Wells Fargo for 95 Horatio, Meatpacking District, Manhattan on January 02, 2025.
• TF Cornerstone borrowed $204.9 million from M&T Bank for 46-10 Center Boulevard, Long Island City, Queens on December 10, 2024.
• TF Cornerstone borrowed $448.3 million from PNC Bank for 595 Dean Street, 595 Dean Street, and 595 Dean Street, Prospect Heights, Brooklyn on December 02, 2024.
• Pearl Realty Management sold 24 Oak Street, None, Brooklyn for $30 million to TF Cornerstone on August 08, 2024.
• Pearl Realty Management sold 43 West Street, Greenpoint, Brooklyn for $144.1 million to TF Cornerstone on August 08, 2024.
• TF Cornerstone borrowed $115 million from Wells Fargo for 660 12th Avenue, Hell’s Kitchen, Manhattan on October 06, 2023.
• TF Cornerstone borrowed $418 million from Wells Fargo for 2-21 Malt Drive, Long Island City, Queens on January 18, 2023.
• TF Cornerstone borrowed $307 million from PNC Bank for 2-20 Malt Drive, Long Island City, Queens on January 18, 2023.
• TF Cornerstone borrowed $138 million from Wells Fargo for 46-15 Center Boulevard, Long Island City, Queens on December 05, 2022.
• TF Cornerstone borrowed $121.9 million from PNC Bank for 45-40 Center Boulevard, Long Island City, Queens on July 11, 2022.
Latest Stories:
• TF Cornerstone signs $230.1M refi for 318-unit rental in Meatpacking District (January 03, 2025)
• TF Cornerstone signs $448.3M refi for 798-unit rental in Prospect Heights (December 03, 2024)
• NYC construction lending boosts flagging CRE finance market: Analysis (February 03, 2023)
• TF Cornerstone ups debt by $121.9M at 345-unit tower at Long Island City (July 12, 2022)
• TF Cornerstone pays $70.8M for 95-unit residential rental in Williamsburg (May 06, 2022)
• Prologis buys TF Cornerstone’s Astoria development site for $35M (November 16, 2021)
Properties: