Spitzer Enterprises

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Spitzer Enterprises portfolio

$527.7 million* – elevator 100%; Manhattan 68%, Brooklyn 31%

116th largest portfolio by dollar value

1,757,912 sqft – elevator 100%;

186th largest by SF

5 properties – Manhattan 60%, Brooklyn 40%

1472th largest

1,163 residential units – Brooklyn 73%, Manhattan 26%

203th largest by residential units

Top Ten Associated Companies:

First Republic Bank (3), MTA (1), M&T Bank (1), d (1), Hornig Capital Partners (1), 2020-420K (1), Citibank (1), Related Companies (1), USAA Real Estate (1)

Top Ten Associated People:

Daren Hornig (1), Andrew Rosen (1)

Recent activity as company:

Spitzer Enterprises for Charles Morisi filed plans for new building for 106,086 sqft in Carnegie Hill, Manhattan, on November 01, 2022.

Spitzer Enterprises sold 511 West 35th Street, 506 West 36th Street, and 512 West 36th Street, Hell’s Kitchen, Manhattan for $77 million to Related Companies on October 28, 2021.

Spitzer Enterprises borrowed $298 million from 2020-420K for 416 Kent Avenue and 420 Kent Avenue, Williamsburg, Brooklyn on February 11, 2021.

Spitzer Enterprises borrowed $298 million from Citibank for 416 Kent Avenue, 420 Kent Avenue, Williamsburg, Brooklyn on November 10, 2020.

Spitzer Enterprises sold 419 9th Avenue, Hudson Yards, Manhattan for $7.9 million to Hornig Capital Partners on October 29, 2020.

Spitzer Enterprises borrowed $276.3 million from M&T Bank for 451 10th Avenue, Hudson Yards, Manhattan on February 07, 2020.

Spitzer Enterprises borrowed $115 million from First Republic Bank for 800 5th Avenue, Lenox Hill, Manhattan on November 08, 2019.

Spitzer Enterprises borrowed $27 million from First Republic Bank for 150 East 57th Street, Plaza District, Manhattan on November 08, 2019.

• MTA borrowed $77.8 million from Spitzer Enterprises for 517 West 35th Street, 511 West 35th Street, 451 10th Avenue, 506 West 36th Street, 512 West 36th Street, and others, Hudson Yards, Manhattan on October 18, 2019.

Spitzer Enterprises borrowed $45 million from First Republic Bank for 511 West 35th Street, 506 West 36th Street, 512 West 36th Street, Hudson Yards, Manhattan on October 18, 2019.

Latest Stories:

• Cove files plan for 286K sf office building in Hudson Yards (March 07, 2023)

• Cove Property Group submits plans to demolish 5 buildings in Hudson Yards ahead of tower plan (December 19, 2022)

• Related Companies files plans for new Hudson Yards office tower (October 26, 2022)

• Dermot signs $116.5M loan with Helaba for 147-unit rental in Lenox Hill (July 25, 2022)

• Cove acquires ground sublease valued at $57.6M from Hornig at 178K Hudson Yards dev site (July 19, 2022)

• Related pays $77M to Spitzer Enterprises for three parcels in Hell’s Kitchen (October 29, 2021)

• Spitzer Enterprises borrows $298M from Citigroup for property in Williamsburg (November 11, 2020)

• Cove Property as tenant inks lease valued at $45.9M with Hornig Capital for dev site in Hudson Yards (November 09, 2020)

• Hornig Capital Partners pays $8M to Spitzer Enterprises for property in Hudson Yards (October 30, 2020)

• Related Companies, Spitzer Enterprises borrow $276M in construction financing from M&T Bank for development in Hudson Yards (February 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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