Witnick Real Estate Partners

People:

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Witnick Real Estate Partners portfolio

$142.2 million* – walkup 80%, elevator 19%; Manhattan 65%, Brooklyn 34%

419th largest portfolio by dollar value

493,726 sqft – walkup 74%, elevator 25%;

617th largest by SF

34 properties – Manhattan 70%, Brooklyn 29%

290th largest

671 residential units – Manhattan 62%, Brooklyn 37%

334th largest by residential units

0 foreclosures, 0 bankruptcies, 1 other court case.

Company Activity past 24 months:

Buyer company: 3 for $60 million

Seller company: 3 for $10.8 million

Borrower company: 4 for $64.7 million

Top Ten Associated People:

Louis Ciniglio (4), Gail Naviasky (4), J. Stuart Lemle (2), Paul Kampa (2), Leo DiLoreto (2), Kenneth Dowling (2), George Wong (1), Matthew M. Nalbandian (1), L. Stuart Lemle (1), Mark Koplowitz (1)

Recent activity as company:

• Witnick Real Estate Partners, Namdar Realty Group and Gorjian Real Estate Group borrowed $20.2 million from Societe Generale for 30 East 14th Street, Greenwich Village, Manhattan on July 16, 2024.

• Witnick Real Estate Partners borrowed $18.3 million from Arbor Realty Trust for 97 Grand Avenue, Clinton Hill, Brooklyn on March 22, 2024.

• Madison Realty Capital sold 97 Grand Avenue, Clinton Hill, Brooklyn for $27.5 million to Witnick Real Estate Partners on March 22, 2024.

• Witnick Real Estate Partners sold 148 Atlantic Avenue, Cobble Hill, Brooklyn for $3.4 million to Eric Modell on November 03, 2023.

• Witnick Real Estate Partners borrowed $20 million from Arbor Realty Trust for 525 Union Avenue, Williamsburg, Brooklyn on June 20, 2023.

• Cheskel Jacobowitz sold 525 Union Avenue, Williamsburg, Brooklyn for $26.8 million to Witnick Real Estate Partners on June 20, 2023.

• Witnick Real Estate Partners borrowed $6.2 million from Arbor Realty Trust for 212 East 29th Street, Kips Bay, Manhattan on May 17, 2023.

• Kushner Companies sold 195 East 4th Street, Alphabet City, Manhattan for $5.8 million to Witnick Real Estate Partners on April 24, 2023.

• Witnick Real Estate Partners sold 131 5th Avenue, Park Slope, Brooklyn for $4.7 million to Joseph Maio on April 24, 2023.

• Witnick Real Estate Partners sold 243 5th Avenue, Park Slope, Brooklyn for $2.8 million to Daniel Khaimov on April 05, 2023.

Latest Stories:

• Witnick, Namdar, Gorjian up debt to $20.2M for 20-unit walkup in Greenwich Village, was $13.5M (July 17, 2024)

• Witnick pays $27.5M to Madison Realty Capital for 62-unit rental in Clinton Hill (March 22, 2024)

• Eric Modell pays $3.4M to Witnick Real Estate for mixed-use in Cobble Hill (November 06, 2023)

• Witnick Real Estate pays $26.8M to Cheskel Jacobowitz for 43-unit walkup in Williamsburg (June 21, 2023)

• Witnick signs $6.2M refi loan with Arbor for 13-unit walkup in Kips Bay (May 18, 2023)

• Joseph Maio pays $4.7M to Witnick for mixed-use in Park Slope (April 25, 2023)

• Witnick pays Kushner $5.8M for 18-unit walkup in Alphabet City, down from $7M (April 25, 2023)

• Witnick pays $20.8M to Granite International for two walkup properties in Chelsea (December 06, 2022)

• Witnick Real Estate pays $8.8M to Seagram for 18-unit walkup in Lower East Side (November 16, 2022)

• Shiya Ehrenreich pays $3.8M to Witnick for residential walkup in Bed Stuy (October 07, 2022)

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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