Justin Besspiata
MetLife
Owner
MetLife portfolio
(NYC’s “Market Value,” 50% or less of actual value)
$60.7 million – office 60%, condo 20%; Manhattan 60%, Brooklyn 39%
816th largest portfolio by dollar value
231,872 sqft – office 62%, condo 18%;
1051th largest by SF
4 properties – Brooklyn 75%, Manhattan 25%
153th largest
78 residential units – Brooklyn 100%, Manhattan 0%
720th largest by residential units
2 foreclosures, 0 bankruptcies, 33 other court cases.
Person Activity past 24 months:
Buyer signatory: 1 for $30 million
Seller signatory: 0 for $0
Borrower signatory: 0 for $0
Lender signatory: 2 for $153.6 million
Developer (new building or major alteration): 0 for 0 square feet
Top Ten Associated Companies:
BLDG Management (1), Feil Organization (1), Lam Generation (1), ATCO Properties & Management (1)
Top Ten Associated People:
Lloyd Goldman (1), Jeffrey Feil (1), Jeffrey Lam (1), Elaine Shay (1)
Recent activity as signatory:
• Muss Development borrowed $25.2 million from Argentic Investment Management for 350 Jay Street, Downtown Brooklyn, Brooklyn on August 02, 2024.
• ATCO Properties & Management sold 240 West 35th Street, Garment District, Manhattan for $30 million to MetLife on July 09, 2024.
• Twining Propertiesand Principal Real Estate Investorsand BedRock Real Estate Partners borrowed $39 million from Principal Real Estate Investors for 27-19 44th Drive and 44-16 Purves Street, Long Island City, Queens on February 09, 2024.
• BLDG Managementand Feil Organization borrowed $33.6 million from MetLife for 424 Madison Avenue, Midtown East, Manhattan on November 30, 2023.
• Lam Generation borrowed $120 million from MetLife for 112-118 West 25th Street, Chelsea, Manhattan on November 06, 2023.