Douglas Walerstein
Services for the UnderServed
Owner
463 7th Avenue, 17th Floor New York, NY 10018
Services for the UnderServed portfolio
(NYC’s “Market Value,” 50% or less of actual value)
$17.2 million – walkup 50.0%, elevator 29.0%; Brooklyn 58.0%, Manhattan 20.0%
1894th largest portfolio by dollar value
138,649 sqft – walkup 61%, elevator 21%;
1536th largest by SF
7 properties – Brooklyn 57%, Manhattan 28%
150th largest
209 residential units – Brooklyn 61%, Manhattan 38%
591th largest by residential units
0 foreclosures, 0 bankruptcies, 1 other court case.
Person Activity past 24 months:
Buyer signatory: 4 for $60.8 million
Seller signatory: 1 for $14.1 million
Borrower signatory: 3 for $172.1 million
Lender signatory: 0 for $0
Developer (new building or major alteration): 0 for 0 square feet
Top Ten Associated Companies:
Steven Neuman (1), Croman Real Estate (1), Enterprise Community Partners (1), Bronx Pro Group (1), NYC Housing Development Corporation (1), Joseph Barone (1), Corporation for Supportive Housing (1)
Top Ten Associated People:
Steven Neuman (1), Steven Croman (1), Douglas Walerstein (1), Joseph Barone (1)
Recent activity as signatory:
• Bronx Pro Groupand Services for the UnderServed borrowed $13.3 million from Corporation for Supportive Housing for 1770 Jerome Avenue, Mt Hope, Bronx on October 23, 2024.
• Joseph Barone sold 1770 Jerome Avenue, Mt Hope, Bronx for $10.2 million to Bronx Pro Groupand Services for the UnderServed on October 23, 2024.
• Steven Neuman sold 2435 Frederick Douglass Boulevard, Harlem, Manhattan for $16.5 million to James Equitiesand Services for the Underserved on September 18, 2024.
• Bronx Pro Groupand Services for the Underserved borrowed $139.6 million from NYC Housing Development Corporation for 1600 Macombs Road, Morris Heights, Bronx on July 08, 2024.
• Services for the Underserved sold 1600 Macombs Road, Morris Heights, Bronx for $14.1 million to Bronx Pro Group on July 08, 2024.
• SMJ Developmentand Services for the UnderServed borrowed $19.2 million from Enterprise Community Partners for 351-357 West 45th Street, Hell’s Kitchen, Manhattan on June 28, 2024.
• Croman Real Estate sold 351-357 West 45th Street, Hell’s Kitchen, Manhattan for $20 million to SMJ Developmentand Services for the UnderServed on June 28, 2024.