Prospect Ridge

Prospect Ridge portfolio

$34.9 million* – hotel 100%; Manhattan 100%, Bronx 0%

1211th largest portfolio by dollar value

71,541 sqft – hotel 100%;

2349th largest by SF

Company Activity past 24 months:

Buyer company: 1 for $59.8 million

Borrower company: 1 for $51 million

Top Ten Associated People:

Robert P. Bermingham (1), Stephanie Galli (1), John A. Lewis (1)

Recent activity as company:

• Prospect Ridge borrowed $51 million from First-Citizens Bank & Trust Company for 232 West 29th Street, Chelsea, Manhattan on November 18, 2024.

• KSL Capital Partners and Hersha Hospitality Trust sold 232 West 29th Street, Chelsea, Manhattan for $59.8 million to Prospect Ridge on November 18, 2024.

• Yucaipa Companies borrowed $80 million from Prospect Ridge for 10 West 28th Street and 1164 Broadway, Nomad, Manhattan on August 06, 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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