DFX Intelligence
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Manager
S•••••• I••••••••• M••••••••• L••
What capital do they manage?
- Real estate GAV
- $520M GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 21 current, 26 ever, 5 dropped7 feeders, 0 funds of funds
- First on the tape
- 2012the extract starts in 2011; an earlier history is not visible
- Latest filing
- Sep 10, 2024registered adviser
- Adviser RAUM
- $541Mthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Real Estate Fund 21, Other Private Fund 5
- Latest vintage
- 2023from a fund name year or the first ADV report after the adviser's first filing
What do they say they do?
stated by the manager
- Strategy
- Value add
- Operator model
- Hybridbasis: stated
- Property types
- Office, Retail, Multifamily, Industrialbasis: stated
- Markets
- New York City, South Florida, Northeast Corridorbasis: stated
- Business kind (site)
- REAL_ESTATE_MANAGER
- AUM in its own words
- ••• Lockedthe manager's statement, not a DFX figure
In the manager’s own words
- Value add: “we believe our team is uniquely qualified to make equity investments that target value-add returns across market cycles by assessing a property’s ability to add value through the implementation of a transformative business plan and robust leasing efforts.”
- Development: “S••••••’s team pursues real estate equity investments that range from major repositioning and redevelopment to ground-up development, with several large-scale projects in progress at any given time.”
- Debt: “We also invest in real estate debt instruments that have the potential to generate equity-like returns, including preferred equity instruments, high-yield bridge debt, mezzanine loans and B-notes.”
- Office: “expertise across the office, retail, residential and industrial sectors”
- Retail: “Our portfolio is and has been comprised of a diverse range of assets, including office, retail, residential, industrial and new development.”
- Multifamily: “expertise across the office, retail, residential and industrial sectors”
- Industrial: “expertise across the office, retail, residential and industrial sectors”
- New York City: “Today, S•••••• invests exclusively in assets located in the five boroughs of New York, as well as South Florida, where its team of acquisitions, asset management, leasing and project management professionals has a deep level of expertise.”
- South Florida: “Today, S•••••• invests exclusively in assets located in the five boroughs of New York, as well as South Florida, where its team of acquisitions, asset management, leasing and project management professionals has a deep level of expertise.”
- Northeast Corridor: “While S•••••• has invested up and down the Northeast Corridor throughout its history, the firm has primarily invested in New York City, a market with a highly developed infrastructure, multiple barriers to entry, substantial transaction sizes and sophisticated participants.”
Vehicles
26 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|---|
| S•••••• R••• E••••• •••• F••• I•• L••• 805-4753208689 | feeder | $112M GAV 2024 | 7 | 2017 to 2024 | 2017 | Harvesting | |||
| 1•• W••••••••• Q••• L••• 805-4230628313 | fund | $94M GAV 2024 | 137 | 2020 to 2024 | 2020 | Harvesting | |||
| S••• I• B••••• P••• C••••••••• L••• 805-3658831310 | co-investment | $81M GAV 2024 | 8 | 2019 to 2024 | 2019 | Harvesting | |||
| N• F•••••• D•••• •••• L•• 805-1549487666 | fund | $66M GAV 2024 | 61 | 2023 to 2024 | 2023 | Deploying | |||
| S•••••• R••• E••••• F••• I•• L••• 805-2873649156 | fund | $28M GAV 2024 | 12 | 2017 to 2024 | 2017 | Harvesting | |||
| N• F•••••• D•••• F•• F•••••• L•• 805-6742050817 | feeder | $26M GAV 2024 | 45 | 2023 to 2024 | 2023 | Deploying | |||
| S•••••• R••• E••••• F••• I••• L••• 805-9083596784 | fund | $19M GAV 2024 | 13 | 2013 to 2024 | 2013 | Winding down | |||
| S••• I• 5•• F•••• A••••• C••••••••• L••• 805-7707034257 | co-investment | $18M GAV 2024 | 5 | 2020 to 2024 | 2020 | Harvesting | |||
| S•••••• R••• E••••• •••• F••• V• L••• 805-3607974074 | fund | $16M GAV 2024 | 4 | 2020 to 2024 | 2020 | Harvesting | |||
| S•••••• R••• E••••• F••• V• L••• 805-1041152339 | fund | $14M GAV 2024 | 3 | 2020 to 2024 | 2020 | Harvesting | |||
| S•••••• R••• E••••• •••• F••• I••• L••• 805-4877273792 | feeder | $13M GAV 2024 | 7 | 2013 to 2024 | 2013 | Winding down | |||
| S•••••• R••• E••••• •••• F••• I•• L••• 805-9232845501 | fund | $11M GAV 2024 | 4 | 2017 to 2024 | 2017 | Harvesting | |||
| S•••••• M•••• C• M•••••• L•• 805-2979652438 | fund | $9M GAV 2024 | 198 | 2023 to 2024 | 2023 | Investing | |||
| S•••••• R••• E••••• •••• F••• V• L••• 805-8936695748 | feeder | $8M GAV 2024 | 1 | 2020 to 2024 | 2020 | Harvesting | |||
| S•••••• R••• E••••• •••• F••• I••• L••• 805-5795117784 | fund | $3M GAV 2024 | 2 | 2013 to 2024 | 2013 | Winding down | |||
| 1•• W••••••••• •••• Q••• L••• 805-2490270204 | feeder | $2M GAV 2024 | 9 | 2020 to 2024 | 2020 | Harvesting | |||
| S••• I• 4••• S••••• C••••••••• L••• 805-7406730787 | co-investment | $1M GAV 2024 | 5 | 2018 to 2024 | 2018 | Winding down | |||
| S••• I•• 4••• A••••• C••••••••• L••• 805-5148472662 | co-investment | $364,390 GAV 2024 | 5 | 2017 to 2024 | 2017 | Winding down | |||
| S•••••• R••• E••••• •••• F••• I••• L••• 805-4634956105 | fund | $0 GAV 2024 | 1 | 2015 to 2024 | 2015 | Winding down | |||
| S•••••• R••• E••••• F••• I••• L••• 805-2532269093 | fund | $0 GAV 2024 | 20 | 2014 to 2024 | 2014 | Winding down | |||
| S••• I•• W•••••• C••••••••• L••• 805-8303206256 | co-investment | $0 GAV 2024 | 2 | 2015 to 2024 | 2015 | Winding down |
5 dropped, re-typed or historical vehicles
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|---|
| S•••••• R••• E••••• •••• F••• I• L• 805-5402925485, dropped 2020 | feeder | $0 GAV 2019 | 1 | 2012* to 2019 | unknown | Dropped from ADV | |||
| S•••••• R••• E••••• •••• F••• I•• L• 805-5586186243, dropped 2019 | feeder | $0 GAV 2018 | 3 | 2012* to 2018 | unknown | Dropped from ADV | |||
| S•••••• R••• E••••• •••• F••• I•• L• 805-8378776566, dropped 2020 | fund | $0 GAV 2019 | 7 | 2012* to 2019 | unknown | Dropped from ADV | |||
| S•••••• R••• E••••• F••• I• L••• 805-2231194933, dropped 2020 | fund | $0 GAV 2019 | 14 | 2012* to 2019 | unknown | Dropped from ADV | |||
| S•••••• R••• E••••• F••• I•• L• 805-8662129668, dropped 2019 | fund | $0 GAV 2018 | 35 | 2012* to 2018 | unknown | Dropped from ADV |
What do they actually own?
4 trusted of 33 candidate bindings
| Owner entity | Vehicle | Properties held | Loans | Evidence |
|---|---|---|---|---|
| 5• B••••• P••• P••••••• I•••••••• I•• L•• NY, office | manager only | 1 | 2 ($838M) | Manager disclosure the manager's own website names the property, and the recorder shows this entity at that address today |
| 3• W•••• 9• O••••• L•• NY, office | manager only | 1 | 1 ($119M) | Manager disclosure the manager's own website names the property, and the recorder shows this entity at that address today |
| 3• W• 2• S••••• L•• NY, office | manager only | 1 | 1 ($119M) | Manager disclosure the manager's own website names the property, and the recorder shows this entity at that address today |
| 3• W••• 2••• S••••• P••••••• I•••••••• I•• L•• NY, office | manager only | 1 | 1 ($119M) | Manager disclosure the manager's own website names the property, and the recorder shows this entity at that address today |
Properties the manager names on its site
- 5• B••••• P•••, 5• B••••• P•••, Manhattan, NY (office) “••• Locked”
- O•• C•••• S•••••, Long Island City, NY (office) “••• Locked”
- 4•• W••• 1••• S•••••, 4•• W••• 1••• S•••••, Manhattan, NY “••• Locked”
- T•• S••, Manhattan, NY “••• Locked”
- 6• T•••• A•••••, 6• T•••• A•••••, Manhattan, NY “••• Locked”
- 5•• F•••• A•••••, 5•• F•••• A•••••, Manhattan, NY “••• Locked”
- 3• W••• 2••• S•••••, 3• W••• 2••• S•••••, Manhattan, NY “••• Locked”
- V•••••••••, Upper Manhattan, NY “••• Locked”
What are they buying, selling and financing?
0 acquisitions, 0 sales, 1 financings in 12 months
- Mortgage assignedDec 11, 2025$463MB• B••••• P••• L•••••5• B••••• P•••, NY (office) through 5• B••••• P••• P••••••• I•••••••• I•• L•• with B• B••••• P••• L••••• L••Public records a836-acris.nyc.gov
- Loan modified or extendedDec 11, 2025$375MB• B••••• P••• L•••••5• B••••• P•••, NY (office) through 5• B••••• P••• P••••••• I•••••••• I•• L•• with B• B••••• P••• L••••• L••Public records a836-acris.nyc.gov
Who finances them?
2 loans, 1 lender groups
- Maxim Credit Group new5 loans, $188M, Sep 11, 2024 to Sep 17, 2024
- B• B••••• P••• L••••• new3 loans, $1.3B, Dec 11, 2025 to Dec 11, 2025
- Bcc Funding II new2 loans, $70.0M, Sep 11, 2024 to Sep 11, 2024
Who backs them?
0 allocators, 0 rows
No institutional LP disclosure resolved to this manager.
People
Form ADV Schedule A, latest filing
- N••••••• C•••• B•••••••• Managing M••••• since 2011-05 also on pe, vc
- C••••••••• C••••• S•••••• Managing M••••• since 2011-05 also on pe, vc
- V•••••• H••••• K•••• Chief Legal Officer since 2017-04 also on pe, vc
- J••• J••••• T••••• Chief Compliance Officer since 2024-08 also on pe, vc
What is changing?
- Vehicle first reported Mar 31, 2023 (observed) N• F•••••• D•••• F•• F•••••• L•• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $8,728,308
- Vehicle first reported Mar 31, 2023 (observed) S•••••• M•••• C• M•••••• L•• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $8,958,767
- Vehicle first reported Mar 31, 2023 (observed) N• F•••••• D•••• •••• L•• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $35,621,604
- Vehicle first reported Mar 30, 2020 (observed) 1•• W••••••••• Q••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $142,638,758
- Vehicle first reported Mar 30, 2020 (observed) S•••••• R••• E••••• •••• F••• V• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $42,984,905
- Vehicle dropped from ADV Mar 30, 2020 (observed) S•••••• R••• E••••• •••• F••• I• L• no longer reported on Form ADV by S•••••• I••••••••• M••••••••• L••
- Vehicle dropped from ADV Mar 30, 2020 (observed) S•••••• R••• E••••• F••• I• L••• no longer reported on Form ADV by S•••••• I••••••••• M••••••••• L••
- Vehicle dropped from ADV Mar 30, 2020 (observed) S•••••• R••• E••••• •••• F••• I•• L• no longer reported on Form ADV by S•••••• I••••••••• M••••••••• L••
- Vehicle first reported Mar 30, 2020 (observed) S•••••• R••• E••••• •••• F••• V• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $23,336,267
- Vehicle first reported Mar 30, 2020 (observed) 1•• W••••••••• •••• Q••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $3,323,907
- Vehicle first reported Mar 30, 2020 (observed) S•••••• R••• E••••• F••• V• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $50,345,494
- Vehicle first reported Mar 30, 2020 (observed) S••• I• 5•• F•••• A••••• C••••••••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $63,638,090
- Vehicle dropped from ADV Mar 28, 2019 (observed) S•••••• R••• E••••• F••• I•• L• no longer reported on Form ADV by S•••••• I••••••••• M••••••••• L••
- Vehicle first reported Mar 28, 2019 (observed) S••• I• B••••• P••• C••••••••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $115,165,480
- Vehicle dropped from ADV Mar 28, 2019 (observed) S•••••• R••• E••••• •••• F••• I•• L• no longer reported on Form ADV by S•••••• I••••••••• M••••••••• L••
- Vehicle first reported Mar 30, 2018 (observed) S••• I• 4••• S••••• C••••••••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $23,150,430
- Vehicle first reported Mar 31, 2017 (observed) S•••••• R••• E••••• •••• F••• I•• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $185,001,540
- Vehicle first reported Mar 31, 2017 (observed) S•••••• R••• E••••• •••• F••• I•• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••
- Vehicle first reported Mar 31, 2017 (observed) S•••••• R••• E••••• F••• I•• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $23,871,166
- Vehicle first reported Mar 31, 2017 (observed) S••• I•• 4••• A••••• C••••••••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $52,781,830
- Vehicle first reported Mar 31, 2015 (observed) S••• I•• W•••••• C••••••••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $17,542,461
- Vehicle first reported Mar 31, 2015 (observed) S•••••• R••• E••••• •••• F••• I••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $24,236,625
- Vehicle first reported Mar 31, 2014 (observed) S•••••• R••• E••••• F••• I••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $99,997,144
- Vehicle first reported Mar 25, 2013 (observed) S•••••• R••• E••••• F••• I••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $67,250,000
- Vehicle first reported Mar 25, 2013 (observed) S•••••• R••• E••••• •••• F••• I••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $122,000,000
- Vehicle first reported Mar 25, 2013 (observed) S•••••• R••• E••••• •••• F••• I••• L••• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $47,450,000
- First ADV filing on the tape Feb 16, 2012 (observed) S•••••• I••••••••• M••••••••• L•• first filed Form ADV in the extract (IA)
- Vehicle first reported Feb 16, 2012 (observed) S•••••• R••• E••••• •••• F••• I• L• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $111,250,000 (tape start: the fund may be older)
- Vehicle first reported Feb 16, 2012 (observed) S•••••• R••• E••••• F••• I•• L• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $231,988,000 (tape start: the fund may be older)
- Vehicle first reported Feb 16, 2012 (observed) S•••••• R••• E••••• •••• F••• I•• L• first reported on Form ADV by S•••••• I••••••••• M••••••••• L••, GAV $176,400,000 (tape start: the fund may be older)
Across DFX
Bridged by shared CRD, CIK or SEC fund id only; the same institution’s PE portfolio companies and its real estate holdings stay on their own graphs.