Ludlow Street NYC

Ludlow Street

Enclave Equities foreclosed on a non-performing first mortgage secured by a partially completed 7-story luxury condominium project.

The asset faced a significant zoning challenge after a downzoning that could have reduced the allowable size of the building and limited the project’s value.

Enclave successfully procured approval from the NYC Board of Standards and Appeals, allowing the project to move forward despite the zoning change.

The building was then reconfigured to include a commercial condominium component and more marketable residential layouts.

Enclave completed construction and successfully sold both the commercial and residential condominium units.

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Before & After

Before

aFTER

Project Gallery

Rosanna Manente

Controller

Rosanna Manente is the Controller for Enclave Equities and is an accomplished accounting executive with over three decades of experience. Rosanna worked for 10 years as Controller for a high-end fashion house and has worked across a wide spectrum of other competitive industries including pharmaceutical marketing, liquor distribution, and textile distribution. Rosanna also brings 23 years of real estate expertise as a licensed realtor and Holds a Bachelor of Business Administration in Accounting from Iona University.

Dana Franzese

Project Coordinator and Office Administrator

Dana Franzese serves as Project Coordinator and Office Administrator at Enclave Equities. With over 10 years of experience in the construction industry, Dana plays a key role in keeping projects organized and running smoothly. Working closely with the general contractor and project manager, she coordinates subcontractor scheduling, material ordering, permits, inspections, testing and project documentation to help ensure each phase of construction stays on track. In addition to supporting construction projects from start to finish, Dana manages vendors and subcontractor payments, requisitions, company paperwork, insurance administration, audits, and financial reconciliations. Known for being detail-oriented, dependable, and highly organized, Dana takes pride in helping create an efficient process that supports both the team and clients throughout every project.

Gail Brownstein

Manager of Risk and Compliance

With more than 20 years of insurance industry experience, Gail serves as the Risk and Compliance Manager for Enclave Equities. Gail is responsible for all aspects of the organization’s insurance portfolio across its residential and commercial real estate operations. She manages a broad range of coverages, including general liability, property, worker’s compensation, flood, builders’ risk, owners’ interest, and umbrella insurance policies. In addition to policy administration and risk management, Gail  coordinates and manages annual insurance audits, helping ensure compliance, accuracy, and continuity across the company’s growing portfolio. Known for a detailed-oriented yet approachable style, Gail  works closely with internal teams, brokers, and carriers to support the company’s long-term operational and financial goals.

Dagmara Drago

Director of Operations and Senior Project Manager

Dagmara Drago is the Director of Operations and Senior Project Manager at Enclave Equities. Dagmara has over two decades of experience managing and optimizing commercial and residential properties across a wide range of asset types including office, retail, industrial, mixed-use, and manufactured housing communities. Her background includes property operations, capital improvements, construction project management, leasing, tenant relations, development coordination, budgeting, and vendor management. Over the course of her career, she has overseen major renovation projects, managed multimillion-square foot portfolios, coordinated complex development initiatives, and supported acquisitions, dispositions, and property repositioning efforts. Dagmara is known for her hands-on approach, practical problem-solving skills, and ability to navigate the day-to-day realities of complex real estate operations while maintaining strong relationships with tenants, contractors, consultants, and stakeholders.

Rosetta Acevedo

Director of Finance

As Director of Finance at Enclave Equities, Rosetta Acevedo brings more than 40 years of financial and operational experience to the organization. She oversees cash management, investment portfolio management, daily office operations, loan portfolio administration, and financial analysis, playing a key role in maintaining the company’s financial integrity and operational efficiency. Throughout her career, Rosetta has built a strong reputation for accuracy, leadership, and a detail-oriented approach to financial management. She has worked across a diverse range of industries, including advertising, public relations, public accounting, and investment advisory firms, and most recently within a family office specializing in real estate development and management. Her extensive industry knowledge and commitment to excellence have made her a trusted resource within the organization and a valued contributor to the company’s continued success.

Margarett Corbett

CPA, Chief Financial Officer

Margaret Corbett is the Chief Financial Officer for Enclave Equities. Mrs. Corbett is responsible for financial reporting and analysis, treasury, tax and internal controls. Prior to joining Enclave Equities, Mrs. Corbett was CFO at a company creating film, TV, web and branded content. She previously had over ten years’ experience in public accounting and as manager provided audit, tax and consulting services to clients in a variety of sectors including real estate, chemical manufacturing, consumer research and private foundation. Mrs. Corbett is a CPA certified in the State of New York and earned her BBA in Accounting at the City University of NY, Baruch College.

Jonathan Seplowitz

Vice President of Investments

Jonathan Seplowitz is Vice President of Investments at Enclave Equities. He focuses on Enclave’s investment and development activities, including the oversight of new project consultants and the underwriting and structuring of new acquisitions and financings. Mr. Seplowitz also played an integral role in Enclave’s workout of a large portfolio of non-performing commercial real estate debt and equity investments. Prior to joining Enclave, he held a position with Madison Realty Capital. Mr. Seplowitz received a B.S., summa cum laude, from Yeshiva University.

Sam Mermelstein

Chief Development Officer; President of Fieldstone GC

Sam Mermelstein is the Chief Development Officer of Enclave Equities and President of Fieldstone GC, Enclave’s affiliated construction company. He has more than 25 years of experience in the real estate industry, with particular expertise in the repositioning and redevelopment of distressed and underperforming assets. Throughout his career, Mr. Mermelstein has led the transformation of properties affected by defaulted mortgages, foreclosures, bankruptcies, stalled development plans, and other complex ownership or operational challenges. His experience includes directing the development, redevelopment, and financing of more than 100 projects, including retail centers, apartment communities, industrial properties, and ground-up housing developments. Mr. Mermelstein has extensive experience navigating difficult real estate situations, including environmental issues, government approvals, redevelopment planning, construction oversight, and asset stabilization. His hands-on approach has helped convert neglected and severely underperforming properties into productive commercial and residential assets. Through Fieldstone GC, Mr. Mermelstein and his team directly manage key aspects of the construction and redevelopment process from planning through completion. This integrated platform has played and important role in the successful delivery of numerous complex ground-up and redevelopment projects.

Steven Gelles

President and Chief Operating Officer

Steven Gelles is the President and Chief Operating Officer of Enclave Equities. He oversees the firm’s operations and management and is responsible for new business development, corporate planning, and overall corporate strategy. Mr. Gelles also oversees portfolio and risk management and plays a lead role in structuring Enclave’s investments. He has been an active real estate investor and developer for more than 30 years and is a principal of Sage Investors, L.P., a family office and investment management firm. Mr. Gelles graduated magna cum laude from the Wharton School of the University of Pennsylvania and received his M.B.A., with distinction, from Harvard Business School.

Michael Goldberg

Chief Executive Officer

Michael Goldberg is the Chief Executive Officer of Enclave Equities, where he leads the firm’s strategic growth initiatives, including the identification of new investment opportunities, financing sources, and joint venture partners. Mr. Goldberg has more than 30 years of experience in real estate management, ownership and development. In addition to his responsibilities at Enclave, he owns and manages a portfolio of more then 3,000 apartment units in the New York metropolitan area, together with retail, warehouse, industrial, and development properties located primarily in the tri-state region.