Grubb Properties

4601 Park Road Suite 450. Charlotte, NC 28209

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Grubb Properties portfolio

$19.1 million* – development 56%, office 42%; Manhattan 56%, Queens 43%

1801th largest portfolio by dollar value

54,000 sqft – office 100%, development 0%;

2758th largest by SF

3 properties – Queens 66%, Manhattan 33%

2308th largest

879 residential units – Manhattan 52%, Queens 47%

267th largest by residential units

Company Activity past 24 months:

Borrower company: 6 for $450.8 million

Top Ten Associated People:

Eric Sadkin (2), Glenn Grimaldi (1), Eric Chan (1), Joshua Knoll (1), In Ku Lee (1), Michael P. McTigue (1), Vasiliki Falidas (1), Richard Ohebshalom (1), John Falidas (1), Vasilios Falidas (1)

Recent activity as company:

Grubb Properties borrowed $89.7 million from Maxim Capital Group for 111 Washington Street, Financial District, Manhattan on October 16, 2024.

Grubb Properties borrowed $67.5 million from Maxim Capital Group for 111 Washington Street, Financial District, Manhattan on May 22, 2024.

Grubb Properties borrowed $150 million from Kennedy Wilson and Crum & Forster for 41-34 27th Street, Long Island City, Queens on May 08, 2024.

Grubb Properties borrowed $58.5 million from Maxim Capital Group for 41-34 27th Street, Long Island City, Queens on January 08, 2024.

Grubb Properties borrowed $40 million from Maxim Capital Group for 41-34 27th Street, Long Island City, Queens on September 27, 2023.

Grubb Properties borrowed $45.1 million from Naftali Credit Partners for 111 Washington Street, Financial District, Manhattan on August 10, 2023.

Grubb Properties borrowed $25 million from Emerald Creek Capital for 25-01 Queens Plaza North and N/A 25th Street, Long Island City, Queens on January 05, 2022.

Vasilios Falidas sold 25-01 Queens Plaza North and N/A 25th Street, Astoria, Queens for $63 million to Grubb Properties on September 28, 2021.

Grubb Properties borrowed $60 million from Fortress Investment Group for 111 Washington Street, Financial District, Manhattan on September 24, 2021.

Pink Stone Capital Group sold 111 Washington Street, Financial District, Manhattan for $89.2 million to Grubb Properties on September 24, 2021.

Latest Stories:

• Grubb Properties signs $67.5M refi with Maxim Capital for dev parcel in FiDi (May 23, 2024)

• Grubb Properties signs $150M senior construction loan for 417-unit project in LIC, part of $214.5M in financing (May 09, 2024)

• Grubb Properties signs $40M refi loan with Maxim Capital for 317-unit LIC project (September 28, 2023)

• Grubb Properties signs $45.1M refi loan with Naftali Credit Partners for 388-unit development in FiDi (August 11, 2023)

• Grubb Properties signs $25M initial loan with Emerald Creek for 317-unit LIC dev site (January 06, 2022)

• Grubb Properties acquires Pink Stone Capital’s 111 Washington in FiDi for $89.2M (September 24, 2021)

• Grubb Properties in contract to buy 54K LIC office building (March 29, 2021)

• Carmel Partners borrows from Axos Bank against $80M Pink Stone loan in FiDi (November 17, 2020)

• Richard Ohebshalom buys out father’s stake at FiDi dev site valued at $57.7M (September 10, 2020)

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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