Cornell Realty Management

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Cornell Realty Management portfolio

$14.4 million* – office 100%, D7 0%; Brooklyn 100%, Manhattan 0%

2162th largest portfolio by dollar value

222,300 sqft – D7 63%, office 36%;

1099th largest by SF

2 properties – Brooklyn 100%, Manhattan 0%

3137th largest

68 residential units – Brooklyn 100%, Manhattan 0%

1811th largest by residential units

0 foreclosures, 1 bankruptcy, 2 other court cases.

Top Ten Associated Companies:

Top Ten Associated People:

Hershel Brach (1)

Recent activity as company:

• Cornell Realty Management sold 125 Middleton Street, Williamsburg, Brooklyn for $5 million to Hershel Brach on February 22, 2022.

• Cornell Realty Management borrowed $47.9 million from Popular Bank for 946 Myrtle Avenue, Bedford-Stuyvesant, Brooklyn on January 15, 2020.

• Cornell Realty Management borrowed $27.5 million from Madison Realty Capital for 159 Broadway, N/A Broadway, Williamsburg, Brooklyn on November 15, 2019.

Latest Stories:

• Yitzchak Tessler battles Isaac Hager over alleged $3M loan from 2020 (April 11, 2024)

• Ohana Real Estate Investors signs $59M refi for hotel, residential in Downtown Brooklyn (January 26, 2024)

• Courts roundup: Tessler, Trader Joe’s, Haruvis, SoHo condo (February 24, 2023)

• Ohana acquires hotel, rental from Cornell Realty in Downtown Brooklyn bankruptcy with $94M credit bid (December 15, 2022)

• Madison Realty to acquire Isaac Hager’s bankrupt W’burg hotel dev site, had $27.5M in 2019 debt (November 14, 2022)

• Hershel Brach pays $5M to Cornell Realty for development site in Williamsburg (February 23, 2022)

• Tessler, and Cornell Realty, borrow $84M from G4 Capital Partners for new construction in Williamsburg (February 27, 2020)

• Cornell Realty Management borrows $48M from Popular Bank for multifamily development in Bedford-Stuyvesant (January 16, 2020)

• Cornell Realty borrows $28M from Madison Realty, Bluestone for mixed-use development in Williamsburg (November 18, 2019)

• Cornell Realty Management and Rubin Equities Inc. borrow $76M from Madison Realty Capital and Bluestone Group for property in Dumbo (October 07, 2019)

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.

Cornell Realty Management

People: