Black Spruce Management
Black Spruce Management portfolio
$1.4 billion* – elevator 66%, walkup 20%; Manhattan 91%, Brooklyn 3%
46th largest portfolio by dollar value
5,709,823 sqft – elevator 68%, walkup 22%;
51th largest by SF
157 properties – Manhattan 81%, Brooklyn 14%
46th largest
5,430 residential units – Manhattan 86%, Queens 8%
33th largest by residential units
0 foreclosures, 0 bankruptcies, 5 other court cases.
Company Activity past 24 months:
Buyer company: 1 for $402.6 million
Seller company: 14 for $149 million
Borrower company: 4 for $553.4 million
Top Ten Associated Companies:
Orbach Group (41), Westover Companies (13), Signature Bank (9), John Schreiber (5), Solow Realty & Development (5), Apollo Global Management (2), New York Community Bank (2), Musso Group (1), Shulem Herman (1), JDS Development Group (1)
Top Ten Associated People:
Meyer Orbach (22), Guntram J. Weissenberger Jr. (13), John Schreiber (5), Steven Weymouth (4), Jeffrey Horowitz (2), Victor Musso (1), Semantha Stewart (1), Shulem Herman (1), Michael Stern (1), Samantha Stewart (1)
Recent activity as company:
• Black Spruce Management sold 466 West 23rd Street, Chelsea, Manhattan for $6.5 million to Westover Companies on December 27, 2024.
• Black Spruce Management sold 456 West 22nd Street, Chelsea, Manhattan for $5.6 million to Westover Companies on December 27, 2024.
• Black Spruce Management sold 454 West 22nd Street, Chelsea, Manhattan for $13.9 million to Westover Companies on December 27, 2024.
• Black Spruce Management sold 431 West 22nd Street, Chelsea, Manhattan for $3 million to Westover Companies on December 27, 2024.
• Black Spruce Management sold 416 West 23rd Street, Chelsea, Manhattan for $21.1 million to Westover Companies on December 27, 2024.
• Black Spruce Management sold 348 West 21st Street, Chelsea, Manhattan for $5 million to Westover Companies on December 27, 2024.
• Black Spruce Management sold 341 West 19th Street, Chelsea, Manhattan for $3.1 million to Westover Companies on December 27, 2024.
• Black Spruce Management sold 339 West 19th Street, Chelsea, Manhattan for $4.6 million to Westover Companies on December 27, 2024.
• Black Spruce Management sold 326 West 23rd Street, Chelsea, Manhattan for $6.4 million to Westover Companies on December 27, 2024.
• Black Spruce Management sold 313 West 29th Street, Chelsea, Manhattan for $6.9 million to Westover Companies on December 27, 2024.
Latest Stories:
• Widow of Black Spruce Management co-founder battles company’s top executive (January 01, 2024)
• Black Spruce sells 81-unit UWS rental for $54.5M (June 27, 2023)
• Black Spruce, Orbach pay $402.6M to Solow Realty for 332-unit rental in Lenox Hill (May 02, 2023)
• Black Spruce, Orbach pay $193.7M to Solow, part of $1.8B deal (December 09, 2022)
• Black Spruce signs $189.4M refi with Signature Bank for 48 properties in Manhattan (May 04, 2022)
Court Records:
Properties: