122 East 40 Street
Grand Central, Manhattan
Parcel ID (BBL): 1008950079
Owner: Capstone Equities
Acquired: May 06, 2022, $15.6 million
Debt: November 24, 2025, $20.1 million
Built: 1928
SF: 74,640
Dwelling units: 0
No. of buildings: 1
Class: Luxury Type – Built After 1960 (H2)
Floors: 16
Transactions:
• Capstone Equities borrowed $20.1 million from Live Oak Bank for 118 East 40th Street, Grand Central, Manhattan on November 24, 2025.
• Capstone Equities and Republic Investment Company borrowed $16.2 million from Maxim Capital Group for 118 East 40th Street, Grand Central, Manhattan on July 21, 2023.
• Meadow Partners sold 118 East 40th Street, Grand Central, Manhattan for $15.6 million to Republic Investment Company on May 06, 2022.
Development:
• Ryan Maccluskey filed plans for alteration in Grand Central, Manhattan, on May 17, 2023.
• Lucio Gil Rumaldo filed plans for alteration in Grand Central, Manhattan, on January 21, 2022.
• Lucio Gil Rumaldo filed plans for alteration in Grand Central, Manhattan, on January 21, 2022.
• Timothy Yantz filed plans for A3 in Grand Central, Manhattan, on May 08, 2015.
• Timothy Yantz filed plans for alteration in Grand Central, Manhattan, on March 26, 2015.
Litigation:
• Heitman Capital Management filed a $46.3 million lawsuit against William Rand, Ruth Alpert, Andre Jagendorf, Richard Read on May 18, 2021,seeking a judgment related to ground lease should not be terminatedat 118 East 40 Street.
• A $531,628 lawsuit was filed 652383/2021 against Meadow Partners on April 09, 2021,seeking a money judgment related to termination feeat 118 East 40 Street.
• Heitman Credit Acquisition filed a $46.3 million pre-foreclosure 850203/2020 on December 16, 2020, against Meadow Partners at 118 East 40 Street.
Violations:
According to city public data, the properties have received $5,800 in OATH penalties in the last year.