William Henrich

Extell Development

Extell Development|Bluestone Group|Princeton Real Estate Partners|Robert Gans portfolio

$1.7 billion* – condo 53.0%, specialty 14.0%; Manhattan 98.0%, Brooklyn 1.0%

34th largest portfolio by dollar value

4,982,498 sqft – condo 44.0%, specialty 21.0%;

59th largest by SF

925 properties – Manhattan 99%, Bronx 0%

4th largest

2,247 residential units – Manhattan 100.0%, Bronx 0.0%

98th largest by residential units

2 foreclosures, 22 bankruptcies, 20 other court cases.

Person Activity past 24 months:

Seller signatory: 3 for $63.4 million

Developer (new building or major alteration): 2.0 for 15,360 square feet

Top Ten Associated Companies:

Empire Automotive Group (1), Glass Stone Properties (1), Cheskel Schwimmer (1)

Top Ten Associated People:

Cheskel Schwimmer (1)

Recent activity as company:

Extell Development, Bluestone Group and Princeton Real Estate Partners sold 616 11th Avenue, Hell’s Kitchen, Manhattan for $33.2 million to Cheskel Schwimmer on March 28, 2024.

Extell Development, Bluestone Group and Princeton Real Estate Partners sold 173 Spring Street, SoHo, Manhattan for $21 million to Glass Stone Properties on March 15, 2024.

Robert Gans sold 108-16 Merrick Boulevard and 108-02 Merrick Boulevard, Jamaica, Queens for $9.2 million to Empire Automotive Group on May 30, 2023.

Latest Stories:

• Cheskel Schwimmer of Chess Builders files plans for 56-unit building in Hell’s Kitchen, second on block (May 30, 2024)

• Cheskel Schwimmer of Chess Builders signs $70M construction loan for 188-unit project in Hell’s Kitchen (April 03, 2024)

• Cheskel Schwimmer’s Chess Builders files plans for 132 units in Hell’s Kitchen (March 25, 2024)

• Anonymous buyer pays $21M to Extell, Bluestone, Princeton RE for bankrupt mixed-use in SoHo (March 18, 2024)

• Cheskel Schwimmer has $33.2M contract to buy Hell’s Kitchen dev site from Extell, Tabaks (March 15, 2024)

• Robert Gans sells Jamaica site for $9.2M through bankruptcy (May 31, 2023)

• Extell, Princeton Real Estate, Robert Gans float $200M settlement for portfolio (September 15, 2022)

• Courts: Bluestone inks purchase option for defaulted $116M loan; 5 foreclosures totaling $19M (January 24, 2022)

*The Portfolio Value is the city’s Market Value, which is typically 50% or less of actual market value.

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