Big Money in Boca? PPP Loans

Six companies in East Boca received Paycheck Protection Program loans as high as $10 million including nationally known law firm Boies Schiller Flexner. But the largest loan package in Boca may have gone to the Federation campus in West Boca.

Full details on over 900 companies in Boca – including many doctors, lawyers and restaurants – who got PPP loans are available to paying subscribers below.

This is a long article so we’ll start with West Boca and go by zip code. There were a lot more loans in East Boca so skip down the page for that.

33428

Several large loans were reportedly extended to organizations on the Jewish Federation campus in zip code 33428.

PDF files for West Boca and East Boca with details on all loans over $150,000 are at the bottom of this article.

In total the various Federation operations received loans ranging from $7 million up to $17 million. Federation CCRC Operations appears to be the company operating the new Sinai Residences.

Hendrix Farms received a substantial loan at an address in Boca Grande (behind Target), though the farm is in Parkland off Loxahatchee Road.

A “Boca Raton Elementary School” received a loan of $350K+. We believe that is part of Boca Prep International School in Mission Bay.

There were a total of 36 loans in zip code 33428.

33433

Turning to zip code 33433, Dr. Jeffrey Marcus, a skin cancer surgeon, received a hefty loan of at least $2 million. Boca Pointe Country Club, Regents Park Rehab, and the YMCA all received $1 million or more.

Congregation B’nai Torah, Boca Raton Synagogue, St. Jude Catholic Church and the Tri-County Humane Society also received loans, along with a total of 62 borrowers in 33433.

33434

Original Pancake House received over $2 million, the largest loan we saw for any restaurant in Boca Raton. The Saint Andrews School also borrowed over $2 million.

Boca West‘s master association borrowed over $350,000.

A total of 40 loans were made to businesses and organizations in zip code 33434.

33446, 33496 and 33498

Moving north, we included a couple loans just north of the Delray line. Mizner Country Club (Lyons Road north of Clint Moore) borrowed over a million dollars. The Morikami took a relatively small loan between $150,000 and $350,000.

At Clint Moore and 441, Thomas Produce took a loan over $1 million.

There were 23 loans in zip code 33496 and only 10 loans in zip code 33498. The largest loan in 33498 was for Martin Consulting at over $1 million.

East Boca

33431

Four companies in zip code 33431 received Paycheck Protection Program loans from the federal government in amounts ranging from $5 million to $10 million, including the politically connected Boies Schiller Flexner law firm.

The Information Technology firm CherryRoad Technologies was on that list along with investment brokerage firm National Securities Corporation and Seeman Holtz Insurance.

Both Boies Schiller and National Securities describe themselves as New York based companies. We do not see any other loans for them outside of Boca.

12 other companies in zip code 33431 received loans in excess of $2 million each and 22 more received loans of at least $1 million. That group included Congregation B’nai Israel and Spanish River Presbyterian Church.

A large number of companies and organizations received smaller but still substantial loans. Grandview Preparatory School, Pope John Paul II High School and Advent Lutheran Church each had loans of $350,000 or more. The Islamic Center of Boca Raton received a $150K+ loan.

There were 252 loans indicated for zip code 33431.

33432

15 companies in zip code 33432 borrowed $1 million or more. Waypoint appears to have double dipped (not that there’s anything wrong with that) with one loan for Waypoint Residential of over $2 million and another for Waypoint Management over $1 million.

Other familiar names on the list include iPic Theaters and the Batmasians, each borrowing over $1 Million. The Batmasians are widely thought to be worth several hundred million dollars, if they’re not billionaires. However much of their wealth is in commercial real estate, which some think is a troubled area in the post-Covid world.

Personal injury law firm Kanner & Pintaluga also makes the list of over $2 million borrowed.

Data shows 200 loans over $150K in total for the 33432 zip code. Other notables on the list include:

  • Boca Raton Christian School ($350K – $1M)
  • Faith Temple Christian Bible Theology
  • Florence Fuller Child Development Center
  • St. Joan of Arc Catholic School
  • Temple Beth El
  • Black Republican Caucus of Florida ($150K – $350K)
  • Boca Helping Hands
  • St. Joan of Arc Catholic Church

33486

Tomasso’s received a loan of over $1 million. That seems big for such a small restaurant, especially when a lot of its business is take-out and delivery.

We don’t recognize the other businesses in the top 5.

A total of 43 loans were issued to zip code 33486, including St. Paul Evangelical Lutheran Church ($350K – $1 million), The Mae Volen Senior Center, and Sushi Ray ($150K-$350K).

33487

There were a lot of big loans in zip code 33487. Two of them were more than $5 million including a large medical practice on Clint Moore and a nursing agency on Congress.

Newsmax Media borrowed over $2 million. There’s a huge pocket of 32 loans over $1M around Broken Sound Parkway, Park of Commerce Boulevard, Rogers Circle, Congress Ave. and Clint Moore.

246 loans were made into 33487. Others on the list that we recognize include:

  • Bocaire Country Club ($350K – $1 million)
  • The Sachs, Sax & Caplan law firm (which includes school board member Frank Barbieri)
  • The Wick Theatre ($150K – $350K).

PDFs are below. West Boca first.

west-boca-ppp

And next the much larger East Boca pdf:

east-boca-ppp

Author: Warren Redlich

Warren Redlich is a real estate agent and an attorney. He focuses on selling homes in West Boca Raton. Call or text Warren at 561-536-3645. Find out more at Yes Boca Real Estate.