Michael Wadman

Vice President

Phipps Houses

Developer, Owner

LinkedIn

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: 0 for $0

Seller signatory: 0 for $0

Borrower signatory: 1 for $20 million

Lender signatory: 0 for $0

Developer (new building or major alteration): 2 for 524,469 square feet

Top Ten Associated People:

Michael Wadman (1), Lauren Connors (1), Wayne Finkelstein (1), Alexander Svecherny (1), Ruth Moreira (1), Kerry LaBotz (1)

Recent activity as signatory:

• Phipps Houses borrowed $20 million from Citibankand NYC Department of Housing Preservation and Development for 3103 3rd Avenue, Melrose, Bronx on January 07, 2025.

• Michael Wadman filed plans for new building for 376,520 sqft in Cypress Hills, Brooklyn, on January 29, 2024.

• Michael Wadman filed plans for major alteration for 147,949 sqft in Queens, on July 03, 2023.

• Phipps Houses borrowed $224.6 million from NYC Housing Development Corporation for 247 Chestnut Street, Cypress Hills, Brooklyn on December 29, 2022.

• Phipps Houses sold N/A Chestnut Street, Cypress Hills, Brooklyn for $13.5 million to Phipps Houses on December 29, 2022.

• Phipps Houses borrowed $10 million from BankUnited for 110 East 138th Street, Mott Haven, Bronx on November 22, 2022.

• Michael Wadman filed plans for major alteration for 7,703 sqft in Alphabet City, Manhattan, on October 13, 2022.

• Michael Wadman filed plans for major alteration for 34,515 sqft in Alphabet City, Manhattan, on September 07, 2022.

• Alexander Svecherny sold 860 Courtlandt Avenue, Melrose, Bronx for $8.7 million to Phipps Houses on June 21, 2022.

• Wayne Finkelstein sold 110 East 138th Street, Mott Haven, Bronx for $16.1 million to Phipps Houses on March 28, 2022.