BH3 Management

BH3 Management portfolio

$33.8 million* – condo 100.0%; Manhattan 100.0%, Bronx 0.0%

1238th largest portfolio by dollar value

77,494 sqft – condo 100.0%;

2239th largest by SF

52 properties – Manhattan 100%, Bronx 0%

190th largest

5 residential units – Manhattan 100.0%, Bronx 0.0%

5350th largest by residential units

0 foreclosures, 3 bankruptcies, 3 other court cases.

Company Activity past 24 months:

Buyer company: 1 for $50 million

Lender company: 1 for $35.3 million

Top Ten Associated Companies:

Magnum Real Estate Group (1), Xin Development Group International (1)

Top Ten Associated People:

Benjamin Shaoul (1), Sheng Zhang (1)

Recent activity as company:

Xin Development Group International sold 500 West 45th Street, 500 West 45th Street, 500 West 45th Street, 500 West 45th Street, 500 West 45th Street, and others, Hell’s Kitchen, Manhattan for $50 million to BH3 Management on October 24, 2024.

Magnum Real Estate Group borrowed $35.3 million from BH3 Management for 140 West Street, 140 West Street, 140 West Street, and 140 West Street, None, Manhattan on October 08, 2024.

GFI Capital Resources Group borrowed $59 million from Rialto Capital Management for 61 Bond Street, Boerum Hill, Brooklyn on May 05, 2022.

Pasquale Ciullo borrowed $5.8 million from Hirshmark Capital for 439 East 77th Street, Upper East Side, Manhattan on December 28, 2021.

Latest Stories:

• Xin Development signs $32.5M refi with Avant Capital for retail in Hell’s Kitchen (December 16, 2024)

• Visabe, Urban Spring, sign $24.5M construction loan for 16-unit condo in Lenox Hill (November 14, 2024)

• BH3 Management pays $50M for 52 unsold condo units in Hell’s Kitchen, through bankruptcy (October 25, 2024)

• Xin Development Group places $123M Hell’s Kitchen condo in bankruptcy (January 08, 2024)

• Xin Development sues lender BH3 Management over 92-unit Hell’s Kitchen condo loan (November 27, 2023)

• GFI Capital ups debt to $59M with Rialto Capital Management for hotel in Boerum Hill (May 06, 2022)

• Magnum Real Estate signs $74.9M condo inventory loan with Ares Commercial in FiDi (May 06, 2021)

• iStar pays $45M to GFI for ground under Downtown Brooklyn hotel (February 11, 2021)

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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