Bluestar Properties

People:

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Bluestar Properties portfolio

$30.1 million* – walkup 84%, elevator 15%; Manhattan 100%, Bronx 0%

1318th largest portfolio by dollar value

157,505 sqft – walkup 63%, elevator 36%;

1442th largest by SF

12 properties – Manhattan 100%, Bronx 0%

735th largest

270 residential units – Manhattan 100%, Bronx 0%

702th largest by residential units

Company Activity past 24 months:

Buyer company: 5 for $23.4 million

Borrower company: 1 for $15 million

Top Ten Associated Companies:

Karen Kessler (5), Jovan Subotic (1), Ridgewood Savings Bank (1), Sterling National Bank (1), Dime Community Bank (1)

Top Ten Associated People:

Michael D. Morici Jr. (5), Jovan Subotic (1), Marna E. Bernstein (1), Louis Ciniglio (1)

Recent activity as company:

• Bluestar Properties borrowed $15 million from Ridgewood Savings Bank for 219 East 10th Street, 229 East 11th Street, 72 East 7th Street, 74 East 7th Street, 314 East 9th Street, and others, East Village, Manhattan on January 25, 2024.

• Karen Kessler sold 229 East 11th Street, East Village, Manhattan for $4.6 million to Bluestar Properties on January 25, 2024.

• Karen Kessler sold 314 East 9th Street, East Village, Manhattan for $4.3 million to Bluestar Properties on January 25, 2024.

• Karen Kessler sold 260 East 10th Street, East Village, Manhattan for $2.8 million to Bluestar Properties on January 25, 2024.

• Karen Kessler sold 72 East 7th Street and 74 East 7th Street, East Village, Manhattan for $7.6 million to Bluestar Properties on January 25, 2024.

• Karen Kessler sold 219 East 10th Street, East Village, Manhattan for $4.2 million to Bluestar Properties on January 25, 2024.

• Jovan Subotic sold 210 1st Avenue, East Village, Manhattan for $6.5 million to Bluestar Properties on September 21, 2022.

• Bluestar Properties borrowed $15 million from Dime Community Bank for 429 East 6th Street, 333 East 5th Street, and 331 East 5th Street, East Village, Manhattan on February 24, 2022.

• Bluestar Properties borrowed $13.7 million from Sterling National Bank for 302 Manhattan Avenue, 302 Manhattan Avenue, 315 West 113thstreet, and 315 West 113thstreet, Central Harlem, Manhattan on June 10, 2021.

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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