$8.5M refi with Bank of America for 28-unit walkup in Lenox Hill

The entity 328 E. 78th St. LLC as borrower signed a refi loan with lender Bank of America valued at $8.5 million for the 28-unit residential walkup building (C7) at 328-330 East 78th Street in Lenox Hill, Manhattan.
The deal closed on March 5, 2026 and was recorded on March 6, 2026. The prior lender was Webster Bank which held debt that had an original loan amount of $9.3 million.The property has 16,440 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $517 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on August 27, 2015, for $15.4 million. The signatory for Parvaneh Khodadadian was Parvaneh Khodadadian. The signatory for Bank of America was Eamon Anderson .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Daniel Roshan, head officer and Dr Parviz Khodadadian, officer. The business entities are East Coast Management Llc and 328 E 78th St, Llc. The 16,440-square-foot property generated revenue of $826,321 or $50 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 28 residential units in Lenox Hill has 16,440 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 40 feet and is 102 feet deep with a total lot size of 4,087 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $5.4 million. Bank of America on March 5, 2026 bought a loan with an original principal of $9.3M from Webster Bank signed by Margaret M. Fahy , secured by 328-330 East 78th Street, when owned by Parvaneh Khodadadian.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $850 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of 22 of the 32 commercial properties representing 237,192 square feet of the 301,510 square feet. The largest owner is Salvatore Gaudio, followed by Henry Moses Jr. and then Gpg Properties.
On the tax block, there was one new building construction project filed totaling 160,641 square feet. It is a 94-unit, 160,641 square-foot residential (R-2) building submitted by Carmel Partners and filed by Matthew Feldman with plans filed January 24, 2022 and permitted August 25, 2023.

The majority, or 72 percent of the 301,510 square feet of built space are walkup buildings, with mixed-use buildings next occupying 17 percent of the space.

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