Square Mile Capital Management | The Real Deal New York

The Real Deal New York

trd topics
X


NAME


EMAIL


SUGGESTED
UPDATE


[wpgdprc "By using this form you agree with the storage and handling of your data by this website."]

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Square Mile Capital Management

450 Park Avenue
New York, NY 10022
(212) 605-1000
Website
info@squaremilecapital.com
Square-Mile-Capital

Square Mile Capital Management LLC is a real estate investment firm founded in 2006 by Jeff Citrin and Craig Solomon. The firm, which struggled during the downturn of property prices in the wake of the financial crisis, has bounced back along with prices. New York City-based Square Mile invests in physical properties in the United States as well as real estate-derived equity, debt and hybrid financial products. The firm's investors include sovereign wealth funds and government pension funds. The firm is best known for its legal battle with Kent Swig, a developer and investor, who said in September 2009 he would declare bankruptcy if Square Mile called in the $28 million it had lent him. In March 2012, USAA Real Estate took a minority stake in Square Mile, with Citrin and Solomon retaining a majority stake in the firm. In November 2011, Square Mile and Taconic Investment said they were teaming up to convert 837 Washington Street into a retail and office building. When it launched, Square Mile collaborated with a wide range of players invested in outer-borough apartment buildings, but it has since become more focused on Manhattan.


03/11/19
...in 2017 also included $25 million in preferred equity from Square Mile Capital Management. OZK and Square Mile have co-financed a number of other Sam Chang projects, including...

03/02/19
...York City, such as Innovo Property Group and Square Mile Capital Management...

02/06/19
...Bruckner Boulevard project from Innovo Property Group and Square Mile Capital Management topped the list by a wide margin. It would span about 740,000 square feet, more...

12/03/18
...as "Number One Broadway." The loan comes from Square Mile Capital Management, according to property records. Joseph Cayre's Midtown, with Rockwood Capital as a majority equity...

11/27/18
...the Bronx, Andrew Chung’s Innovo Group and Square Mile Capital Management plan to build an 840,000-square-foot warehouse that will stand two stories tall. And in...

07/19/18
...Taconic Investment Partners received a $260 million loan from Square Mile Capital Management for their Essex Project crossing on the Lower East Side at 202 Broome Street. Cammeby...

06/01/18
...the office component of its Essex Crossing development. Square Mile Capital Management originated the debt. Taconic — in partnership with BFC Partners, L+M Development Partners and...

03/01/18
...Lenox Hill, known as the Interior Design Building. Square Mile Capital Management provided the financing for the deal, the firm announced on Thursday. JMC paid $47 million...

02/22/18
...portfolio asking $125 million. The firm secured $72 million from Square Mile Capital Management as an alternative. “People used to say there is a ton of upside to...

02/09/18
...Construction and Development received a $150 million loan from Square Mile Capital Management for the Dime at 263 South 5th Street in Williamsburg, one of the neighborhood’s...

01/29/18
...And in the Bronx, Innovo Property Group and Square Mile Capital Management are planning to build an 840,000-square-foot warehouse on the site of the former Whitestone...

01/02/18
...the Ozarks and $23.9 million in mezzanine financing from Square Mile Capital Management, according to the Commercial Observer. The hotel at 140 West 28th Street will stand 45 stories...

11/30/17
...-story mixed-use property, sources told The Real Deal. Square Mile Capital Management is providing financing that will allow the developers to move ahead with the building...

11/29/17
...of the Lower East Side mixed-use megaproject from Square Mile Capital Management, sources told The Real Deal. The loan from the investment manager would go toward...

11/01/17
...filed with the city's Department of Finance show. Square Mile Capital Management issued the $205 million construction loan last year, alongside $125 million in capital from two unnamed...

07/28/17
...of $72 million in senior and mezzanine financing from Square Mile Capital Management, according to sources and property records. The financing replaces and expands on loans provided...

07/06/17
...in the Sunset Tower Hotel. Atlas Capital and Square Mile Capital Management have agreed to sell an estimated one-third stake in their trophy retail and office...

...Atlas, Square Mile say goodbye Atlas Capital and Square Mile Capital Management have agreed to sell an estimated one-third stake in their trophy retail and office...

06/22/17
...Building in Long Island City and Craig Solomon Square Mile Capital Management tapped Craig Solomon as its new CEO while founder Jeff Citrin will step back...

03/09/17
...the Ozarks and $25 million in preferred equity from Square Mile Capital Management. His firm, McSam Hotel Group, is building a 25-story, 520-key property on the site...

12/28/16
...totaling $77.5 million from Bank of the Ozarks and Square Mile Capital Management. In October, the city’s Landmarks Preservation Commission held a public hearing on Shah...

...loans. Other dominant lender-investors in the city include Square Mile Capital Management and Ari Shalam’s RWN Real Estate Partners, the family office of Apollo Global...

04/13/16
...Place, for its Madewell division. Atlas Capital Group, Square Mile Capital Management and Invesco Real Estate own the Factory, acquiring it in 2014 and then renovating the...

02/22/16
...the neighborhood. The developer, along with its partners Square Mile Capital Management and Invesco Real Estate, bought the factory at 30-30 47th Avenue in 2014 and extensively...

01/27/16
...owned by a partnership between Atlas Capital Group, Square Mile Capital Management and Invesco Real Estate, who acquired the 90-year-old building in 2014 and kicked off a...
Square Mile Capital Management, Managing Principal
450 Park Avenue, New York, NY, (212) 605-1000
Craig Solomon is the founder, along with business partner Jeff Citrin, of Square...
Square Mile Capital Management, Founder
450 Park Avenue, New York, NY, (212) 605-1000
Jeffrey Citrin is the founder, along with business partner Craig Solomon, of Square...
  • Event Office Leasing
  • Address 30-30 47th Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Square feet 25,744
  • Publication Date 01/11/2019
  • Event Date 01/14/2019
  • Party 1 Atlas Capital Group, Square Mile Capital Management, Invesco Real Estate
  • Party 1 Brokerage Newmark Knight Frank
  • Party 1 Broker Brian Waterman, Howard Kesseler, Jordan Gosin, Alex Rosenblum
  • Party 2 Spin Master
notes
The Canadian toy company inked a 6-year lease for the Long Island City location.
  • Event Financing
  • Address 1 Broadway
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 180,646
  • Price $ 161,000,000
  • Publication Date 12/10/2018
  • Event Date 12/03/2018
  • Party 1 Midtown Equities, Rockwood Capital
  • Party 2 Square Mile Capital Management
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Steve Kohn, Alex Hernandez
notes
The owner secured a loan of $161 million for the Financial District property.
  • Event Financing
  • Address 2341 Adam Clayton Powell Jr Boulevard
  • Neighborhood Harlem
  • Borough Manhattan
  • Price $ 71,000,000
  • Publication Date 12/03/2018
  • Event Date 11/28/2018
  • Party 1 Goldman Sachs Investment Group, BRP Companies
  • Party 2 Square Mile Capital Management
notes
The owner secured a loan of $71 million for the Harlem property.
  • Event Financing
  • Address 29-22 Northern Boulevard
  • Neighborhood Long Island City
  • Borough Queens
  • Square feet 380,700
  • Price $ 138,500,000
  • Publication Date 11/03/2018
  • Event Date 10/30/2018
  • Party 1 Simon Baron Development
  • Party 2 Square Mile Capital Management
notes
The owner secured a loan of $138.5 million for the Long Island City property.
  • Event Financing
  • Address 1277 East 14th Street
  • Neighborhood Midwood
  • Borough Brooklyn
  • Square feet 265,000
  • Price $ 115,000,000
notes
The owner secured a loan of $115 million for the Midwood property.
  • Event Office Leasing
  • Address 30-30 47th Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Square feet 25,000
notes
The toy company relocated to the 6th floor of the Long Island City building.
  • Event Financing
  • Address 202 Broome Street
  • Neighborhood Lower East Side
  • Borough Manhattan
  • Price $ 260,000,000
  • Publication Date 05/15/2018
  • Event Date 04/16/2018
  • Party 1 Taconic Investment Partners
  • Party 2 Square Mile Capital Management
notes
The owner secured a $260 million construction loan for the last building at Essex Crossing.
  • Event Financing
  • Address 306 East 61st Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 58,340
  • Price $ 51,000,000
  • Publication Date 03/07/2018
  • Event Date 03/01/2018
  • Party 1 JMC Holdings
  • Party 2 Square Mile Capital Management
notes
The company secured a $51 million mortgage to buy the Lenox Hill property.
  • Event Financing
  • Address The Dime, 263 South 5th Street
  • Neighborhood Williamsburg
  • Borough Brooklyn
  • Price $ 150,000,000
  • Publication Date 02/06/2018
  • Event Date 11/17/2017
  • Party 1 Tavros Development Partners, Charney Construction and Development
  • Party 1 Brokerage JLL
  • Party 1 Broker Aaron Appel, Jonathan Schwartz and Mark Fisher
  • Party 2 Square Mile Capital Management
notes
The developers obtained $150 million in construction financing for the South Williamsburg rental tower The Dime.
  • Event Financing
  • Address 3143-3149 Broadway; 500 Cathedral Parkway; 111 West 104th Street; and 242 West 109th Stree
  • Neighborhood Morningside Heights
  • Borough Manhattan
  • Square feet 135,000
  • Price $ 72,000,000
  • Publication Date 09/01/2017
  • Event Date 07/28/2017
  • Party 1 BCB Property Management
  • Party 2 Square Mile Capital Management
notes
The multifamily-focused investment firm received a loan.
  • Event Office Leasing
  • Address 30-30 47th Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Square feet 17,000
notes
The jewelry maker signed an 8-year lease for the 5th floor. Rents in the building range from high $30s to mid $40 per square foot.
  • Event Financing
  • Address 365 Bond Street
  • Neighborhood Gowanus
  • Borough Brooklyn
  • Square feet 323,193
  • Price $ 120,000,000
notes
The borrower secured a $120 million 2-year, 3.5% interest refinance loan, which will mature in May 2021.
  • Event Financing
  • Address 350 West 39th Street
  • Borough Manhattan
  • Price $ 120,000,000
notes
The company secured a $120 million construction loan for the proposed hotel development.
  • Event Financing
  • Address 241 Bedford Avenue
  • Neighborhood Williamsburg
  • Borough Brooklyn
  • Square feet 74,370
  • Price $ 19,000,000
notes
The company secured a $19 million mezzanine loan.
  • Event Office Leasing
  • Address 30-30 47th Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Square feet 60,000
notes
The J. Crew owned clothing company signed a lease.
  • Event Financing
  • Address 485 Seventh Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 235,000
  • Price $ 330,000,000
notes
The company secured a $330 million contruction loan.
  • Event Office Leasing
  • Address 30-30 47th Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Square feet 19,000
notes
The fashion company signed a lease.
  • Event Retail Leasing
  • Address 15 Little West 12th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 32,000
notes
The furniture retailer signed a lease for multilevel space. The reported asking rent on the ground floor was $250 per square foot.