Gregg Schenker

ABS Partners Real Estate

ABS Partners Real Estate portfolio

$43.7 million* – office 70%, industrial 13%; Manhattan 63%, Queens 36%

1038th largest portfolio by dollar value

140,796 sqft – office 82%, industrial 14%;

1540th largest by SF

6 properties – Manhattan 50%, Queens 50%

1309th largest

0 foreclosures, 0 bankruptcies, 5 other court cases.

Person Activity past 24 months:

Seller signatory: 1 for $6.7 million

Borrower signatory: 1 for $16 million

Top Ten Associated Companies:

Cerco Funding (1), TD Bank (1), Brodsky Organization (1), GFP Real Estate (1), Sorgente Group (1), Ronnie Stause (1)

Top Ten Associated People:

John Stroligo (1), J. Dean Amro (1), Ronnie Stause (1)

Recent activity as company:

GFP Real Estate, Nathan Silverstein, Gregg Schenker and Sorgente Group sold 175 Fifth Avenue, Flatiron District, Manhattan for $6.7 million to Brodsky Organization, GFP Real Estate and Sorgente Group on November 09, 2023.

ABS Partners Real Estate borrowed $16 million from TD Bank for 246 Canal Street, Chinatown, Manhattan on October 04, 2023.

ABS Partners Real Estate borrowed $23.5 million from Cerco Funding for 695 Lexington Avenue, Midtown East, Manhattan on March 15, 2022.

Ronnie Stause sold 31-59 Steinway Street, Astoria, Queens for $4.5 million to ABS Partners Real Estate on February 12, 2021.

Latest Stories:

• Brodsky, GFP, Sorgente sign $200M construction loan with Tyko for Flatiron conversion (November 04, 2024)

• Brodsky, GFP, Sorgente plan 39 condo units in Flatiron Building (September 06, 2024)

• AEW, ABS offer to turn over $42.77M Midtown East ground lease to lender Cerco (December 26, 2023)

• Brodsky, Sorgente, GFP, record $47M buyout of former Flatiron Building partners (November 10, 2023)

• ABS Partners Real Estate signs $16M refi with TD Bank for new retail in Chinatown (October 05, 2023)

• Court moves forward with Flatiron Building partition sale (February 28, 2023)

• ABS Partners Real Estate pays $4.5M for property in Astoria (February 15, 2021)

• ABS Partners, Silk & Halpern file plans for $3M rehab of Plaza District office building (July 08, 2020)

• Silk & Halpern borrows $9M from Apple Bank for ground-leased fee in Plaza District (March 04, 2020)

• GFP Real Estate, Sorgente borrow $30M from Apple Bank for Savings for property in Flatiron (February 12, 2020)

*The Portfolio Value is the city’s Market Value, which is typically 50% or less of actual market value.

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