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    Square Mile Capital Management

    450 Park Avenue
    New York, NY 10022
    (212) 605-1000
    Website
    [email protected]

    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.

    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 Financing
    • Address 640 Columbia Street
    • Neighborhood Red Hook
    • Borough Brooklyn
    • Square feet 337,000
    • Price $ 154,800,000
    • Publication Date 07/31/2020
    • Event Date 07/30/2020
    • Party 1 DH Property Holdings, Goldman Sachs Asset Management
    • Party 1 Brokerage Walker & Dunlop
    • Party 1 Broker Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz
    • Party 2 JPMorgan Chase, Square Mile Capital Management
    notes
    The owner secured a construction loan of $154.8 million for the Red Hook property.
    • Event Financing
    • Address 30-77 Vernon Boulevard
    • Neighborhood Astoria
    • Borough Queens
    • Price $ 225,000,000
    • Publication Date 07/31/2020
    • Event Date 07/30/2020
    • Party 1 Cape Advisors, The Pioneer Group
    • Party 1 Brokerage JLL, Meridian Capital Group
    • Party 1 Broker Rob Hinckley, Stephen Palmese, Jeffrey Julien, Steven Rutman, Nicco Lupo, Adam Hakim, James Murad
    • Party 2 Square Mile Capital Management
    notes
    The owner secured a construction loan of $225 million for the Astoria property.
    • Event Financing
    • Address 550 Clinton Avenue
    • Neighborhood Clinton Hill
    • Borough Brooklyn
    • Price $ 180,000,000
    • Publication Date 12/13/2019
    • Event Date 12/11/2019
    • Party 1 Hope Street Capital
    • Party 2 Square Mile Capital Management
    notes
    The owner secured a construction loan of $180 million for the Clinton Hill property.
    • Event Sales
    • Address 1601 Bronxdale Avenue
    • Neighborhood Morris Park
    • Borough Bronx
    • Square feet 305,000
    • Price $ 89,000,000
    • Publication Date 05/09/2019
    • Event Date 05/07/2019
    • Party 1 Sackman Enterprises
    • Party 1 Brokerage Pinnacle Realty
    • Party 2 Himmel + Meringoff, Square Mile Capital Management
    notes
    The buyer secured the Morris Park property for $89 million.
    • Event Office Leasing
    • Address 30-30 47th Avenue
    • Neighborhood Long Island City
    • Borough Queens
    • Square feet 25,744
    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
    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
    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
    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
    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
    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
    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
    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.

    06/01/2018
    Square Mile Capital Management originated the debt...

    02/09/2018
    Clockwise from top left: Empire Stores, Industry City, Dime Savings Bank and the Williamsburg Hotel  The biggest outer-borough loan of December took place right along Clockwise from top left: Empire Stores, Industry City, Dime Savings Bank and the Williamsburg Hotel  The biggest outer-borough loan of December took place right along...
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