Patch of Land Lending
Named as the sponsor's construction lender in 5 New York City condominium offering plans, in the plan's text, where the sponsor says it has obtained its construction loan or financing, or, where the plan doesn't name one, as the lender on the mortgage and building loan agreement recorded in ACRIS on the building's lot before the plan was accepted. Each building below links the plan page or the recorded document. Where an amendment names a new lender, that lender is counted.
Patch of Land Lending's 5 buildings in these plans are all in Brooklyn, 80% rehab, typically 4–5 units, offered at an average $1.7M per unit. Check size: $3.8M typical (the median of 5 loans whose size the plan states or ACRIS records), from $1.1M to $6.1M.
- Buildings
- 5
- Residential units
- 24
- Typical check
- $3.8M
- Years
- 2018–2022
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Recent Growth
Patch of Land Lending's buildings and units by year for the last 6 years, and whether the pace is rising or falling.
0 buildings accepted in 2024–2026 (2026 to date), against 1 in 2021–2023. 0% of all 5 dated buildings are from the last 3 years.
| Year accepted | Buildings | Units |
|---|---|---|
| 2026 to date | 0 | — |
| 2025 | 0 | — |
| 2024 | 0 | — |
| 2023 | 0 | — |
| 2022 | 1 | 5 |
| 2021 | 0 | — |
Latest: 114 6th Avenue Condominium, accepted Mar 21, 2022.
Strongest Relationships
The firms named most often on the same buildings as Patch of Land Lending, at least 2 in common.
Architects
- Ben Herzog Architect2 shared buildings · 40% of Patch of Land Lending's · 2020
Sponsor's counsel
- Gabor & Marotta LLC2 shared buildings · 40% of Patch of Land Lending's · 2020
Property managers
- D&D Management Services Corp.2 shared buildings · 40% of Patch of Land Lending's · 2020–2022
- Rey Grabato2 shared buildings · 40% of Patch of Land Lending's · 2020
Tax consultants
- Metropolitan Realty Exemptions3 shared buildings · 60% of Patch of Land Lending's · 2018–2020
From the same offering plans as the table below. A firm's own affiliates aren't counted.
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| Condominium | Accepted | Units | Loan |
|---|---|---|---|
| 114 6th Avenue Condominium114 6th Avenue · Brooklyn · new constructionNamed as Patch of Land Lending, LLC · Sponsor: Augustine Real Estate Partners LLC · Named on p. 6 ↗ | 2022 | 5 | $6.1M* |
| 206 Powers Condominium206 Powers Street · Brooklyn · rehabNamed as Patch of Land Lending LLC · Sponsor: 206 Powers Management LLC · Named on p. 5 ↗ | 2020 | 8 | $1.1M |
| 377 Degraw Street Condominium377 Degraw Street · Brooklyn · rehabNamed as Patch of Land Lending LLC · Sponsor: Degraw St Capital 377, LLC** · Named on p. 4 ↗ | 2020 | 3 | $3.8M |
| 227 Berkeley Place Condominium227 Berkeley Place · Brooklyn · rehabNamed as Patch of Land Lending LLC · Sponsor: Berkeley Place Capital 227, LLC ** · Named on p. 4 ↗ | 2020 | 4 | $4M |
| 697 Monroe Street Condominium697 Monroe Street · Brooklyn · rehabNamed as Patch of Land Lending LLC · Sponsor: 697 Monroe Street LLC · Named on p. 4 ↗ | 2018 | 4 | $1.4M* |
Loan is the construction financing the plan states: its stated total, or the building, project and other loans it lists added up (hover for the parts); a loan only for buying the land isn't counted. Where the plan states no amount, a figure marked * is the mortgage and building loan agreement recorded in ACRIS for the same lender on the building's lot, linked to the document. — means neither has one. The typical check is the median of these loans. A bank that changed its name is counted under its current name. Different spellings of one lender's name are counted together.