248 West 72 Street
Lincoln Square, Manhattan
Parcel ID (BBL): 1011630053
Acquired: March 06, 2025, $40 million
Debt: March 06, 2025, $31.7 million
Transactions:
• City Urban Realty borrowed $31.7 million from Israel Discount Bank for 244 West 72nd Street, Lincoln Square, Manhattan on March 06, 2025.
• Empire Management and Gatsby Enterprises sold 244 West 72nd Street, Lincoln Square, Manhattan for $40 million to City Urban Realty on March 06, 2025.
• Empire Management, Gatsby Enterprises and Keystone Management borrowed $15 million from Derby Copeland Capital for 244 West 72nd Street, Lincoln Square, Manhattan on August 05, 2024.
Development:
• Michael Alvandi filed alteration job M01389624 for 3,588 sqft RES building with 86 apartments in Lincoln Square, Manhattan, on April 21, 2026.
• Michael Alvandi filed alteration job M01365173 for 3,040 sqft building with 86 apartments in Lincoln Square, Manhattan, on March 07, 2026.
• Michael Alvandi filed alteration job M01339374 for 654 sqft RES building with 86 apartments in Lincoln Square, Manhattan, on December 29, 2025.
• Michael Alvandi filed alteration job M01318311 for 4,013 sqft RES building with 86 apartments in Lincoln Square, Manhattan, on November 12, 2025.
• Michael Alvandi filed alteration job M01278536 for 2,655 sqft RES building with 86 apartments in Lincoln Square, Manhattan, on August 28, 2025.
Litigation:
• Fannie Mae filed a $13.5 million pre-foreclosure 1:24-cv-04135 on May 30, 2024, against Empire Management and Fred Ohebshalom at 244 West 72 Street.
Violations:
According to city public data, the properties have received one DOB violation, $21,750 in ECB penalties, 15 housing violations, and $27,390 in OATH penalties in the last year.