Chestnut Holdings Of New York

(Chestnut Holdings)

5676 Riverdale Avenue, Suite 307 Bronx, NY 10471

PO Box 1402 Bronx, NY 10471

People:

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Chestnut Holdings Of New York portfolio

$573.2 million* – elevator 50%, walkup 41%; Bronx 67%, Manhattan 22%

105th largest portfolio by dollar value

7,909,887 sqft – elevator 59%, walkup 38%;

30th largest by SF

197 properties – Bronx 74%, Manhattan 14%

31th largest

7,897 residential units – Bronx 79%, Manhattan 10%

16th largest by residential units

1 foreclosure, 0 bankruptcies, 3 other court cases.

Company Activity past 24 months:

Buyer company: 7 for $52.9 million

Seller company: 1 for $3 million

Borrower company: 2 for $20.7 million

Top Ten Associated Companies:

JPMorgan Chase (32), New York Community Bank (9), Morgan Group (7), Signature Bank (6), Morris Joseph Knoll (4), Capital One (4), Katzenell family (4), Mordechai Rosenblum (3), Buckingham Properties (2), Hysen Mehmetaj (2)

Top Ten Associated People:

Scott Morgan (7), Ursula Flores (6), Morris Joseph Knoll (5), Jennifer A. Santelli (5), Joseph Spitzer (4), Mordechai Rosenblum (4), Charles L. Knoll (3), Richard Cohen (2), Hysen Mehmetaj (2), Mark Mehlman (2)

Recent activity as company:

• Elliot Wolbrom sold 1964 Grand Concourse, Mt Hope, Bronx for $2.9 million to Chestnut Holdings of New York on November 18, 2024.

• Chestnut Holdings of New York sold 1338-1340 Southern Boulevard, East Morrisania, Bronx for $3 million to Arben Mitaj on November 08, 2024.

• Herbert Freedman sold 3071 Bailey Avenue and 152 West 231st Street, Kingsbridge Heights, Bronx for $4.7 million to Chestnut Holdings of New York on October 10, 2024.

• Scharfman Organization sold 2112 Starling Avenue, Parkchester, Bronx for $9.3 million to Chestnut Holdings of New York on October 09, 2024.

• Chestnut Holdings of New York borrowed $7.2 million from KMR Equity Partners for 555 Ocean Avenue, Flatbush, Brooklyn on March 15, 2024.

• Daniel Reifer sold 555 Ocean Avenue, Flatbush, Brooklyn for $10.3 million to Chestnut Holdings of New York on March 15, 2024.

• Chestnut Holdings of New York borrowed $13.4 million from Beltway Capital Management for 975 Walton Avenue, Concourse, Bronx on January 09, 2024.

• Benzion Kohn sold 975 Walton Avenue, Concourse, Bronx for $18 million to Chestnut Holdings of New York on January 09, 2024.

• Joseph Podolski sold 562 West 193rd Street, Washington Heights, Manhattan for $3.4 million to Chestnut Holdings on October 24, 2023.

• Alma Realty sold 622 East 187th Street, Belmont/Little Italy, Bronx for $4.3 million to Chestnut Holdings on June 07, 2023.

Latest Stories:

• Virginia doctor pays $11.8M to Kings Capital for 20-unit walkup in Hell’s Kitchen (December 18, 2024)

• Pre-foreclosure roundup: $15M in Chinatown, Park Slope; $10M in Mott Haven (December 02, 2024)

• Chestnut Holdings pays $2.9M for 35-unit rental in Mt Hope (November 19, 2024)

• Chestnut Holdings pays $4.7M for retail in Kingsbridge Heights (October 11, 2024)

• Scharfman Organization sells 76-unit rental in Parkchester for $9.3M, first sale in years (October 10, 2024)

• Chestnut Holdings pays $10.3M for 85-unit rental in Flatbush that was in bankruptcy (March 18, 2024)

• Chestnut Holdings acquires bankrupt 182-unit rental in Concourse valued at $18M (January 10, 2024)

• Chestnut Holdings pays $3.4M for 46-unit walkup in Washington Heights (October 25, 2023)

• Chestnut Holdings pays $4.3M to Alma Realty for 24-unit walkup in Belmont (June 08, 2023)

• $13M bankruptcy filed for 85-unit Flatbush rental (April 28, 2023)

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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