Phillip Owens

Carmel Partners

Developer, Owner

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Carmel Partners portfolio

(NYC’s “Market Value,” 50% or less of actual value)

$24.3 million – development 75.0%, mixed-use 14.0%; Manhattan 39.0%, Queens 34.0%

1517th largest portfolio by dollar value

14,029 sqft – mixed-use 56.0%, office 22.0%;

4722th largest by SF

9 properties – Manhattan 44%, Brooklyn 33%

148th largest

1,680 residential units – Queens 55.0%, Brooklyn 35.0%

125th largest by residential units

Person Activity past 24 months:

Buyer signatory: 0 for $0

Seller signatory: 0 for $0

Borrower signatory: 2 for $185.7 million

Lender signatory: 0 for $0

Developer (new building or major alteration): 0 for 0 square feet

Top Ten Associated Companies:

PCCP (1), Northwestern Mutual Life Insurance (1)

Top Ten Associated People:

William R. Lindsay (1)

Recent activity as signatory:

• Carmel Partners borrowed $153 million from Northwestern Mutual Life Insurance for 1487 1st Avenue, Lenox Hill, Manhattan on September 19, 2023.

• Carmel Partners borrowed $32.7 million from PCCP for 225 East 63rd Street, Lenox Hill, Manhattan on July 13, 2023.