Jay Shah
Metropolitan Commercial Bank
Lender
Metropolitan Commercial Bank portfolio
(NYC’s “Market Value,” 50% or less of actual value)
$4.9 million – mixed-use 100%; Brooklyn 100%, Manhattan 0%
3797th largest portfolio by dollar value
15,800 sqft – mixed-use 100%;
4534th largest by SF
0 foreclosures, 1 bankruptcy, 0 other court cases.
Person Activity past 24 months:
Buyer signatory: 0 for $0
Seller signatory: 0 for $0
Borrower signatory: 0 for $0
Lender signatory: 9 for $130.4 million
Developer (new building or major alteration): 0 for 0 square feet
Top Ten Associated Companies:
SKF Development (4), Leser Group (1), H. Gilbert Polinsky (1), Mona Gora Friedman (1), Michael J. Marino, Jr. (1), Ezra Mashaal (1), Justin Management (1), Angelo Gordon (1), 60 Guilders (1), Jenel Management (1)
Top Ten Associated People:
Robert J. Teitelbaum (4), Abraham Leser (1), H. Gilbert Polinsky (1), Mona Gora Friedman (1), Michael J. Marino, Jr. (1), Ezra Mashaal (1), David Justin (1), Doug Profenius (1), Kevin Chisholm (1), David Dushey (1)
Recent activity as signatory:
• Cayre Equities borrowed $8.5 million from Metropolitan Commercial Bank for 254-258 West 35th Street, Garment District, Manhattan on November 29, 2024.
• Leser Group borrowed $6.5 million from Metropolitan Commercial Bank for 1508 Herkimer Street, Cypress Hills, Brooklyn on September 11, 2024.
• AbeCo Organization borrowed $15 million from Amalgamated Bank for 914 East New York Avenue, 906 East New York Avenue, and 916 East New York Avenue, East Flatbush, Brooklyn on September 05, 2024.
• Brause Realty borrowed $10 million from company for 37 Union Square, Flatiron District, Manhattan on July 08, 2024.
• Bruce Camacho borrowed $7 million from Maspeth Federal Savings and Loan Association for 520 Hudson Street, West Village, Manhattan on April 26, 2024.
• Verivia borrowed $7.5 million from Citibank for 152 Norman Avenue and 126 Bedford Avenue, Greenpoint, Brooklyn on April 23, 2024.
• Paulin Lumaj borrowed $6 million from Greystone & Co. for 3066 Buhre Avenue, Pelham Bay, Bronx on April 19, 2024.
• SKF Development borrowed $17.5 million from Metropolitan Commercial Bank for 2738 Creston Avenue, Bedford Park, Bronx on March 11, 2024.
• Leon Mann borrowed $22 million from TD Bank for 912 Broadway, Bedford Stuyvesant, Brooklyn on February 13, 2024.
• Jin Sup An borrowed $8.7 million from NewBank for 449 West 36th Street, Hudson Yards, Manhattan on January 23, 2024.
Latest Stories:
• Cayre Equities pays $16.1M for loft building in Garment District December 02, 2024
• Barone Management puts LIC office building listed for $31.5M in bankruptcy November 15, 2024
• Doe Fund pays $26M to SKF Development for new 65-unit building in Bedford Park September 18, 2024
• MBD pays $25.8M for 57-unit building in Fordham Heights July 08, 2024
• Brause Realty pays $16.5M for office in Flatiron District July 02, 2024
• Bruce Camacho signs $7M refi for 24-unit rental in West Village April 29, 2024
• Paulin Lumaj signs $6M refi with Greystone & Co. for 35-unit rental in Pelham Bay April 22, 2024