Matthew Kelly
Phipps Houses
Phipps Houses portfolio
(NYC’s “Market Value,” 50% or less of actual value)
$671.2 million – elevator 57.0%, condo 19.0%; Bronx 41.0%, Manhattan 39.0%
80th largest portfolio by dollar value
7,018,402 sqft – elevator 57.0%, condo 18.0%;
36th largest by SF
140 properties – Bronx 47%, Queens 32%
45th largest
6,132 residential units – Bronx 57.0%, Manhattan 30.0%
25th largest by residential units
0 foreclosures, 0 bankruptcies, 2 other court cases.
Person Activity past 24 months:
Buyer signatory: 2 for $7.9 million
Seller signatory: 0 for $0
Borrower signatory: 1 for $218.9 million
Lender signatory: 0 for $0
Developer (new building or major alteration): 0 for 0 square feet
Top Ten Associated Companies:
NYC Housing Development Corporation (3), Estate of Rita Stark (3), Sgro family (2), Joseph Daniel Zola (1), Estate Of Rita Stark (1)
Top Ten Associated People:
Elizabeth Farrell (3), Eileen T. Sgro (2), Agostino Vona (2), Joseph Daniel Zola (1), Lauren Connors (1), Bruce Sontag (1)
Recent activity as signatory:
• Estate Of Rita Stark sold 16-26 Village Lane, 16-26 Village Lane, and 16-26 Village Lane, Far Rockaway, Queens for $4.4 million to Phipps Houses on May 17, 2024.
• Phipps Houses borrowed $218.9 million from NYC Housing Development Corporation for N/A Redfern Avenue, N/A Augustina Avenue, 16-25 Redfern Avenue, and 20-47 Nameoke Avenue, Far Rockaway, Queens on January 24, 2024.
• Joseph Daniel Zola sold 800 East 182nd Street, Belmont/Little Italy, Bronx for $3.5 million to Phipps Houses on July 26, 2023.
• Estate of Rita Stark sold 17-01 Village Lane, 17-01 Village Lane, 17-25 Village Lane, 17-25 Village Lane, 17-25 Village Lane, and others, Far Rockaway, Queens for $3.8 million to Phipps Houses on December 29, 2022.
• Estate of Rita Stark sold 1725 Village Lane, 1720 Village Lane, and 1720 Village Lane, Far Rockaway, Queens for $3.3 million to Phipps Houses on August 17, 2022.
• Estate of Rita Stark sold 1725 Village Lane, 1720 Village Lane, and 1725 Village Lane, Far Rockaway, Queens for $3.3 million to Phipps Houses on August 17, 2022.
• Matthew Kelly filed plans for major alteration for 294,167 sqft in East Harlem, Manhattan, on July 20, 2022.
• Matthew Kelly filed plans for new building for 134,635 sqft in Far Rockaway, Queens, on March 22, 2022.
• Matthew Kelly filed plans for new building for 288,486 sqft in Far Rockaway, Queens, on March 22, 2022.
• Phipps Houses borrowed $87.5 million from NYC Housing Development Corporation for N/A Mott Avenue, N/A Bayport Place, N/A Central Avenue, and N/A Central Avenue, Far Rockaway, Queens on February 01, 2022.