Matthew Lembo
Principal
Stellar Management
Owner
Stellar Management portfolio
(NYC’s “Market Value,” 50% or less of actual value)
$1.5 billion – elevator 70%, office 14%; Manhattan 88%, Brooklyn 6%
37th largest portfolio by dollar value
10,607,078 sqft – elevator 74%, office 8%;
24th largest by SF
87 properties – Manhattan 78%, Bronx 10%
75th largest
8,113 residential units – Manhattan 75%, Bronx 15%
13th largest by residential units
0 foreclosures, 0 bankruptcies, 4 other court cases.
Person Activity past 24 months:
Buyer signatory: 0 for $0
Seller signatory: 1 for $3.9 million
Borrower signatory: 0 for $0
Lender signatory: 1 for $68 million
Developer (new building or major alteration): 0 for 0 square feet
Top Ten Associated Companies:
Two80 Real Estate Ventures (1), Stellar Management (1), New York Community Bank (1)
Top Ten Associated People:
Jesse Deutch (1), Anne-Marie Francis (1), Jason Deck (1)
Recent activity as signatory:
• Stellar Management sold 248 Wadsworth Avenue, Washington Heights, Manhattan for $3.9 million to Two80 Real Estate Ventures on July 22, 2024.
• Stellar Management borrowed $68 million from Helaba for 50 West 97th Street, Upper West Side, Manhattan on August 29, 2023.
• Stellar Management borrowed $9.5 million from New York Community Bank for 130 2nd Avenue, East Village, Manhattan on November 18, 2021.