Black Spruce Management | The Real Deal New York

The Real Deal New York

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Black Spruce Management

276 Fifth Avenue, Suite 401
New York, NY 10001
(212) 725-9202
Website
info@blacksprucellc.com

02/08/19
...Clayton Powell portfolio, which the company sold to Black Spruce Management for $76 million. The development market saw similar trends. Transaction volume hit a seven-year low...

01/30/19
...largest deal was an 11-building, 343-unit portfolio that Black Spruce Management sold for about $75 million to Camber Property Group, Belveron Partners and the city’s...

01/08/19
...selling 21 residential and retail buildings in Harlem to Black Spruce Management and NYC Housing Partnership for $76.25 million, according to sources familiar with the deal. The...

01/02/19
...out of rent stabilization after Josh Gotlib’s Black Spruce Management bought the portfolio in 2015 for $51.5 million. The new owners will spend $4 million to renovate...

08/14/18
...and Jonas Equities acquired a Flatbush apartment building. 1) Black Spruce Management bought three contiguous properties in Little Italy for $18.3 million. The buildings, at 185-189 Hester...

02/22/18
...faded from view. Stalwarts like Treetop Development and Black Spruce Management, for example, have quieted down their shopping sprees. “The buyers with a three-to-five-year hold...

12/22/17
...portfolio of Bronx and Brooklyn properties together from Black Spruce Management. The eight buildings—five in the Bronx and three in Brooklyn—contain 324 apartments and...

11/03/17
...and Related purchased them from Josh Gotlib’s Black Spruce Management in 2015 for $19.5 million. Black Spruce had paid $12 million for them in 2014, records show. The...

08/22/17
...West 29th Street in Chelsea Josh Gotlib’s Black Spruce Management secured $75 million to refinance the firm’s portfolio of Chelsea multifamily properties, according to...

07/14/17
...Fordham Heights for $45.7 million, and Josh Gotlib’s Black Spruce Management purchased an 11-building package in Belmont, East Tremont and West Farms in 2015 for $51.5 million...

06/22/17
...building at 29 Featherbed Lane, and Josh Gotlib’s Black Spruce Management purchased a 99-unit residential building in the neighborhood at 1765 Townsend Avenue for $26 million in...

06/19/17
...recently sold for $26 million to Josh Gotlib’s Black Spruce Management. (To view more new construction projects in the Bronx, click here...

05/09/17
...Estate Partners sold it for $24 million in 2015 to Black Spruce Management, which then flipped it to Brooklyn landlord Benzion Kohn in February 2016 for $34.7 million. It...

04/20/17
...at 1765 Townsend Avenue in Mount Hope sold to Black Spruce Management for $26 million. The single Queens transaction consisted of a $3.3 million purchase of two walk-ups...

...in contrast to rivals like Treetop Development and Black Spruce Management, and has allowed it to clear about 7,800 violations to date, said sources close to...

03/27/17
...in an $80 million, 14-building sale in Chelsea to Black Spruce Management. Silvershore, founded in 2008, has been doing more selling than buying as of late. In...

03/22/17
...it for $24 million in 2015 to Josh Gotlib’s Black Spruce Management as part of a seven-building trade. Westwood Realty Associates’ Steven Vegh brokered the deal...

03/16/17
...Real Estate Holdings' five-building purchase for $89 million and Black Spruce Management...

02/27/17
...buildings in Manhattan, and in April, investment firm Black Spruce Management purchased an $80 million, 14-building Chelsea portfolio from the Brock family. At least one local...

02/23/17
...million sale of eight of the properties to Black Spruce Management, sources told The Real Deal. The distressed properties were notably at the center of...

02/22/17
...Townsend Avenue in the Bronx Black Spruce Management, led by Josh Gotlib, snapped up a 99-unit multifamily building in the Bronx for...

02/10/17
...the priciest trade the borough had seen since 2013. Black Spruce Management also inked a big deal in February when it bought 1511 Sheridan Avenue for $34.7 million...

10/25/16
...of small and mid-sized deals. Josh Gotlib’s Black Spruce Management struck the largest multifamily deal of the third quarter. The investment firm acquired a...

09/12/16
...a cluster of low-rise apartment buildings for $15.5 million. Black Spruce Management sold the five buildings for a $4 million profit a little over a year after...

08/03/16
...million, sources told The Real Deal. The seller, Black Spruce Management, is pocketing about $17 million after just buying them for $43 million last year. The five...
  • Event Sales
  • Address 204 West 113rd Street
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Price $ 76,250,000
  • Publication Date 01/11/2019
  • Event Date 01/09/2019
  • Party 1 E&M Associates
  • Party 1 Brokerage Westwood Realty Associates
  • Party 1 Broker Steven Vegh
  • Party 2 Black Spruce Management, NYC Housing Partnership
  • Party 2 Brokerage Westwood Realty
  • Party 2 Broker Steven Vegh
notes
The buyer bought the Central Harlem portfolio for $76.25 million.
  • Event Sales
  • Address 1892 Arthur Avenue
  • Neighborhood Tremont
  • Borough Bronx
  • Price $ 75,000,000
  • Publication Date 01/06/2019
  • Event Date 01/02/2019
  • Party 1 Black Spruce Management
  • Party 2 Camber Property Group, Belveron Partners, Department of Housing Preservation and Development
notes
The buyer acquired the Tremont portfolio for $75 million.
  • Event Financing
  • Address 185 Hester Street
  • Neighborhood Little Italy
  • Borough Manhattan
  • Square feet 34,900
  • Price $ 12,100,000
  • Publication Date 08/20/2018
  • Event Date 08/14/2018
  • Party 1 Black Spruce Management
  • Party 2 Signature Bank
notes
The buyer secured an acquisition loan of $12.1 million for the Little Italy portfolio.
  • Event Sales
  • Address 185 Hester Street
  • Neighborhood Little Italy
  • Borough Manhattan
  • Square feet 34,900
  • Price $ 18,300,000
  • Publication Date 08/20/2018
  • Event Date 08/14/2018
  • Party 1 Garofalo family
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Robert Burton, Keegan Mehlhorn, Bobby Carrozzo
  • Party 2 Black Spruce Management
notes
The buyer purchased the Little Italy portfolio for $18.3 million.
  • Event Financing
  • Address 341 West 19th Street, 348 West 21st Street, 310, 431, 454, 456 West 22nd Street, 326, 416-418, 466 West 23rd Street, 307, 309, 313 West 29th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Price $ 75,000,000
  • Publication Date 10/01/2017
  • Event Date 08/23/2017
  • Party 1 Black Spruce Management
  • Party 2 Cantor Commercial Real Estate
notes
The real estate investment firm secured $75 million to refinance this portfolio.
  • Event Sales
  • Address 196-11 Jamaica Avenue
  • Neighborhood Hollis
  • Borough Queens
  • Square feet 45,000
  • Price $ 15,275,000
  • Price per foot $ 339.44
notes
The 8 buildings with 100 residential units and 37 parking spots combined sold for $15.275 million in Hollis, Queens
  • Event Sales
  • Address 2320 West 12th Street
  • Neighborhood Gravesend
  • Borough Brooklyn
  • Price $ 17,000,000
notes
The Section 8 portfolio sold for $17 million in a deal that includes 2322-2336 West 12th Street and 2315-2321 West 13th Street.
  • Event Financing
  • Address 308 West 49th Street
  • Neighborhood Hell's Kitchen
  • Borough Manhattan
  • Square feet 136,000
  • Price $ 74,900,000
notes
The company secured a $74.9 million acquisition loan which included 340 West 49th Street.
  • Event Sales
  • Address 180 East 93rd Street
  • Neighborhood Brownsville
  • Borough Brooklyn
  • Square feet 300,000
  • Price $ 60,000,000
  • Price per foot $ 200.00
notes
The portfolio sold for $60 million and includes 86-290 East 91st Street, 185 East 92nd Street, 972 Leggett Avenue and 60-68 West 162nd Street.
  • Event Sales
  • Address 308 West 49th Street
  • Neighborhood Hell's Kitchen
  • Borough Manhattan
  • Square feet 136,000
  • Price $ 110,000,000
  • Price per foot $ 808.82
notes
The portfolio sold for $110 million which included 340 West 49th Street.
  • Event Sales
  • Address 1967-1971 Marmion Avenue
  • Neighborhood West Farms
  • Borough Bronx
  • Square feet 265,400
  • Price $ 44,500,000
  • Price per foot $ 167.67
notes
The portfolio sold for $44.5 million which includes 265-269 East 194th Street, 2391-2401 Davidson Avenue, 709-715 Fairmount Place, 1967-1971 Marmion Avenue and 51 Buchanan Place.
  • Event Sales
  • Address 1151 Sheridan Avenue
  • Neighborhood Concourse
  • Borough Bronx
  • Square feet 202,418
  • Price $ 34,700,000
  • Price per foot $ 171.43
notes
The rent-regulated multi-family building sold for $34.7 million.
  • Event Sales
  • Address 213 West 238th Street
  • Neighborhood Kingsbridge
  • Borough Bronx
  • Square feet 106,000
  • Price $ 19,300,000
  • Price per foot $ 182.08
notes
The two five and six-story buildings sold for $19.3 million. Includes 3800 Bailey Avenue.
  • Event Office Leasing
  • Address 276 Fifth Avenue
  • Neighborhood NoMad
  • Borough Manhattan
  • Square feet 3,254
  • Event Sales
  • Address 213-217 West 238th Street
  • Neighborhood Kingsbridge
  • Borough Bronx
  • Price $ 19,300,000
notes
The properties sold for $19.3 million. Includes 3800-3806 Bailey Avenue. Additional information: two buildings, 122 total residential units
  • Event Sales
  • Address 1899 Belmont Avenue
  • Neighborhood East Tremont
  • Borough Bronx
  • Price $ 51,500,000
notes
The 11-building package sold for $51.5 million. Includes 1898-1910 Belmont Avenue, 1892-1894 Arthur Avenue, 2082 Crotona Parkway, 2083, 2088-2090 Mohegan Avenue, 2095 Honeywell Avenue and 876 East 180th Street. Additional information: 11 buildings, 345 residential units, two retail units
  • Event Sales
  • Address 520 East 21st Street
  • Neighborhood Ditmas Park
  • Borough Brooklyn
  • Square feet 103,000
  • Price $ 26,500,000
  • Price per foot $ 257.28
Manhattan, 10011
416 W 23RD STREET PARTNERS 1 LLC', 416 W 23RD STREET PARTNERS 2 LLC
416 West 23rd Street is a 18,079 square foot property built in 1900...
Bronx, 10452
BRONX BROOKLYN HOUSING DEVELOPMENT FUND CORPORATIO
...
Bronx, 10452
BRONX BROOKLYN HOUSING DEVELOPMENT FUND CORPORATIO
...
Bronx, 10452
BRONX BROOKLYN HOUSING DEVELOPMENT FUND CORPORATIO
...
Bronx, 10460
BSP HONEYWELL 2 LLC
...
Bronx, 10460
BSP E180 2 LLC
...
Bronx, 10456
BRONX BOOKLYN HOUSING DEVELOPMENT FUND CORPORATION
...
Bronx, 10457
BSP FAIRMOUNT LLC
...
Bronx, 10453
BSP BUCHANAN LLC
...
Bronx, 10458
BSP EAST 194 LLC
...
Bronx, 10468
BSP DAVIDSON 2 LLC
...
Bronx, 10468
BSP DAVIDSON 1 LLC
...
Brooklyn, 11223
LIGHTHOUSE BROOKLYN LLC
...
Brooklyn, 11223
LIGHTHOUSE BROOKLYN LLC
...
Bronx, 10460
BSP 2090 MOHEGAN 1 LL
...
Bronx, 10460
BSP 2088 MOHEGAN 2 LL
...
Bronx, 10460
BSP CROTONA 2 LLC
...
Bronx, 10460
BSP MARMION LLC
...
Brooklyn, 11205
Spencer Street Holdings, SPENCER STREET REALTY, LLC
The sponsor(s) filed plans on 06/18/07 for a condo project at 192 Spencer...
Bronx, 10457
BSP 1908 BELMONT 2 LL
...
Bronx, 10457
BSP 1900 BELMONT 1 LL
...
Bronx, 10457
BSP 1898 BELMONT 2 LL
...
Bronx, 10457
BSP 1899 BELMONT 1 LL
...
Bronx, 10457
BSP ARTHUR 2 LLC
...
Brooklyn, 11205
SPENCER REALTY DEVELOPERS, LLC
The sponsor(s) filed plans on 01/15/08 for a condo project at 175 Spencer...
Brooklyn, 11212
BSP WINTHROP GARDENS LLC
...
Bronx, 10457
SHERIDAN 1511 LLC
...
Brooklyn, 11212
BSP CLARKSON LLC
...

12/28/15
...rental building in Sunnyside for $27.5 million in May. 2.) Black Spruce Management collaborated with New York City’s Housing Partnership to take ownership of a 99-unit...

12/21/15
...combined 40 apartments across 20,400 square feet. 4.) Joshua Gotlib’s Black Spruce Management purchased a colorful Clinton Hill rental building for $16.4 million, or roughly $468,000 per unit. Waterton...