Eben Ellertson
L+M Development Partners
Lender
L+M Development Partners portfolio
(NYC’s “Market Value,” 50% or less of actual value)
$2.7 billion – elevator 67.0%, condo 20.0%; Manhattan 52.0%, Brooklyn 34.0%
19th largest portfolio by dollar value
24,222,069 sqft – elevator 74.0%, walkup 11.0%;
6th largest by SF
331 properties – Manhattan 53%, Brooklyn 36%
15th largest
25,409 residential units – Manhattan 41.0%, Brooklyn 41.0%
2th largest by residential units
Person Activity past 24 months:
Buyer signatory: 1 for $28.1 million
Seller signatory: 0 for $0
Borrower signatory: 1 for $90 million
Lender signatory: 0 for $0
Developer (new building or major alteration): 0 for 0 square feet
Top Ten Associated Companies:
Lument (1), AMS Realty (1), Wells Fargo (1), Grandbridge Real Estate Capital (1), Sharp Management (1), Citibank (1)
Top Ten Associated People:
Abram Shnay (1), Christian Adrian (1), Martin Kirzner (1)
Recent activity as signatory:
• L+M Development Partners borrowed $90 million from Wells Fargo for 10-20 Monroe Street, Two Bridges, Manhattan on May 10, 2024.
• AMS Realty sold 53 Utica Avenue and 1754 Fulton Street, Bedford Stuyvesant, Brooklyn for $28.1 million to L+M Development Partners on November 14, 2023.
• Sharp Management sold 160 East 103rd Street, East Harlem, Manhattan for $24 million to L+M Development Partners on December 14, 2021.
• L+M Development Partners borrowed $16.8 million from Citibank for 160 East 103rd Street, East Harlem, Manhattan on December 14, 2021.
• L+M Development Partners borrowed $55.2 million from Grandbridge Real Estate Capital for 133 West 104th Street and 200 Manhattan Avenue, the Upper West Side, Manhattan on June 03, 2021.
• L+M Development Partners borrowed $58.1 million from Lument for 1930 Amsterdam Avenue, Washington Heights, Manhattan on January 12, 2021.