Bluestone, Altmark nab Bronx factory building for $44M By Katherine Clarke – AS SEEN IN THE REAL DEAL. ... jewishbusinessnews.com "The purchasers were able to look beyond the rent multiple and cap rate and recognize the deal as a bargain for the bricks," said Tabak, a founding partner at Bluestone. "We are in expansion mode and constantly looking for new talent to add to our pool of ambitious brokers" Eli Tabak said. “These locations are also very attractive to non-government tenants and that provides additional upside for us and our partners since private sector tenants will likely pay higher rents when these government leases expire,” said Eli Tabak, the co-founder of the Bluestone Group. The 19-story, 358,407-square-foot office building at 1325 J St. was one of four buildings a joint venture led by Princeton Holdings and the Bluestone Group recently acquired. View Marc Mendelsohn's business profile as Partner at The Bluestone Group. The transaction was brokered by Eli Tabak and Yona Edelkopf of Bluestone Realty. Major General (USA, Ret.) /PRNewswire/ -- The Bluestone Group, ... Eli Tabak and Marc Mendelsohn, founding partners at The Bluestone Group, are confident that Mr. Terrasi is a great fit. Phillip Churn Sr, is a senior executive leader with extensive national and international experience in leading security, sales, and manufacturing operations for Fortune 500 companies and the United States Armed Forces. Eli Tabak, principal at the Bluestone Group, was approached by Michael Ring about investing in the family portfolio. Serengeti Teas & Provisions has signed a lease for 3,800 square feet at the Union Crossing development in the Bronx.. The sellers are Adi Altmark’s Altmark Group along with Eli Tabak’s Princeton Holdings. Eli Tabak, Co-founder and CEO at owner and financing firm the Bluestone Group Richard Maltz, CEO at Maltz Auctions. A group of investors led by Eli Tabak of the Bluestone Group acquired a two-building apartment complex known as Arlington Village in East New York for $30 million, with plans to redevelop it as affordable housing, The Real Deal has learned. "A happy tenancy is a successful deal," said Bluestone Group principal Eli Tabak. Founded in 2006 by real estate veterans Eli Tabak and Marc Mendelsohn, Bluestone focuses on investing in value-add opportunities such as under-performing properties, developing markets, and distressed assets. A joint venture between Eli Tabak’s Bluestone Group and the Altmark Group has purchased a 235,584-square-foot industrial factory building in the Bronx for $44 million, sources told The Real Deal.. The loan comes from Eli Tabak's Bluestone Group and consists of a $94 million first mortgage and a $15 million mezzanine loan. Eli Tabak is a seasoned veteran of the commercial real estate industry with more than 15 years in the business. The retailer will take a lobby space at 825 E. 141st St. The restaurant’s operator, Joseph Restivo, who owns the 3,756-square-foot, four-story building, took out a consolidated and restated mortgage in October 2005 for $725,000 from the Dime Savings Bank of Williamsburgh, the New York Supreme Court summons indicates.This March, the mortgage was assigned by the bank to Eli Tabak‘s Bluestone Group pursuant to an assignment of mortgage. The Bluestone Group is a privately held investment firm based in New York City which was formed to capitalize on increasing prospects in the opportunistic commercial real estate space. He is the Chief Science Officer of The Bluestone Group, LLC. Eli and Toby Tabak are deeply involved in the myriad of chasadim serving Lakewood and beyond.Eli is CEO of the Bluestone Group; Toby is a program supervisor at Yad Rachel, an organization that serves women suffering from postpartum depression, and she’s a founder of Weecare Preemies, a support group for parents of premature infants. "We want people to know we care." The property includes more than 50,000 square feet of retail, along with roughly 22,000 square feet of office and restaurant space. Just prior to co-founding The Bluestone Group, Eli was a Managing Director at investment sales firm, GFI Realty Services. Bluestone Group has provided $8 million in mezzanine financing on 200 Kent Avenue, a mixed-use development project in Williamsburg, Brooklyn. The property is located along Williamsburg’s waterfront, offering Manhattan views from its upper floors, 50,000 s/f of retail space with 600 ft. of frontage, 22,000 s/f of office and restaurant space, and 45,000 s/f of parking. View Eli Tabak's business profile as Founding Partner at The Bluestone Group. The mixed-use property spans 177,966 SF, and contains a 174-key boutique hotel on the first six floors, plus 64 residential units […] We arrange financing on all commercial real estate property types through our banking and private lending sources. “Our ability to join Madison Realty Capital at this advanced stage of the project, with significant pre-leasing in place, is what attracted us to this deal,” said Bluestone’s Eli Tabak. Find contact's direct phone number, email address, work history, and more. Excerpts with time stamps on video: ON VOLUME Scharf at 01:35 Bluestone initiated the UCC foreclosure process in both cases in September after Hager defaulted on interest payments. Bluestone Realty, with offices at 30 Broad Street in New York, has concluded transactions in excess of $100 million and, given the current rapid pace of growth, doubling this number is certainly an achievable goal. Eli Tabak’s Bluestone Group through the entity 90-02 QB Holdings LLC as borrower signed a loan To read an article sign up for a 7-day free trial with PincusCo Media. Find contact's direct phone number, email address, work history, and more. Isaac Hager’s firm is in default on a $6 million mezz loan provided by Eli Tabak’s Bluestone Group at the time of the acquisition last year. Eli Tabak’s Bluestone Group issued the ownership group a $6M mezzanine ... doing business as 85 Flatbush RHO Hotel LLC, were told back in August that Bluestone … ... property at an attractive basis and partnering with MRC allowed for a smooth and quick execution on this deal,”adds Eli Tabak, Founding Partner of The Bluestone Group. Eli Tabak ’s Bluestone Group is the mezzanine lender on both properties, with $6 million on the hotel property and $3.5 million on the development site. Joseph properties, developing markets and distressed assets. Bluestone Group partners Eli Tabak and Marc Mendelsohn said: “We have worked with Howard for over twenty years and are thrilled to be able to add someone with Howard’s enormous breadth of experience, integrity, and knowledge to our team.” Box of Tricks. We provide solutions for complex financing requests and time sensitive closings. The two-story, 210-unit complex at 3100 and 3124 Atl. The new loan supplements a $64 million construction loan that Madison Realty Capital provided on the property in November 2017, and will finance additional capital needs. It was purchased in 2016 for $14.1 million and should sell in the $25 million-plus range. Tabak Brothers' respective Firms Join to Buy NY FIDI Property for (Dec 02, 2020) L-R Joseph Tabak's Princeton Holdings and Eli Tabak's Bluestone Group. Zolo Realty Capital, Inc. specializes in meeting the financing needs of owners and operators of commercial real estate properties. Tenants are skeptical that Bluestone Group principals Eli Tabak, Ari Bromberg and Marc Mendelsohn (from left) will properly rehab their buildings. No brokers were involved with the transaction, which […] Another strength is the portfolio’s cash flow profile. Madison Realty Capital And Bluestone Group Provide $30.5M In Financing For Acquisition Of Development Site In Irvine, CA. The panel was hosted by Adam Pincus, founder of PincusCo Media. Bluestone Group NYC | 153 Follower auf LinkedIn Headquartered in New York City, The Bluestone Group is one of the most active, experienced and entrepreneurial buyers of notes and loans. Cornell Realty Management is facing foreclosure at 85 Flatbush Avenue Extension. At the time of the portfolio purchase, Eli Tabak, co-founder of Bluestone Group, noted that the properties have additional upside potential “since private-sector tenants will likely pay higher rents when these government leases expire.” The deal closed on Friday, after which Bluestone syndicated a portion of the debt to Madison Realty Capital. The Bluestone Group specializes in the legal and financial services with recruiting expertise in Derivatives and Structured Finance including Derivatives and Structured Finance Attorneys, ISDA Master Agreement Negotiators, Confirmation and Operations Professionals, Collateral Management and … pre-leasing in place, is what attracted us to this deal.” said Eli Tabak, founding partner of Bluestone Group. The sellers are Adi Altmark’s Altmark Group along with Eli Tabak’s Princeton Holdings and Joe Tabak’s Bluestone Group. To access data including daily updated NYC condo files see our Basic or Premium options. 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