ABC Management signs $7.3M refi with Chase for 34-unit UWS rental

ABC Management through the entity 293 C.P.W. LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $7.3 million for the 34-unit residential elevator building (D6) at 293 Central Park West in Upper West Side, Manhattan.
The deal closed on June 11, 2025 and was recorded on June 17, 2025. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $7.5 million.The property has 21,960 square feet of built space and 28,050 square feet of additional air rights for a total buildable of 50,000 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $330 and the price per buildable square foot is $145 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 signatory for ABC Management was Alexander B. Cornfeld . The signatory for JPMorgan Chase was Ursula Flores.

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Alex Cornfeld, head officer and David Lansey, officer. The business entities are Abc Properties Equities Llc and 293 C P W Llc. The 21,960-square-foot property generated revenue of $1.2 million or $55 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 34 residential units in Upper West Side has 21,960 square feet of built space and 28,050 square feet of additional air rights for a total buildable of 50,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 5,000 square feet. The zoning is R10A which allows for up to 10 times floor area ratio (FAR) for residential with inclusionary housing. The property is in the Upper West Side / Central Park West Historic District. The city-designated market value for the property in 2022 is $5.6 million. The property has 14 rent regulated units according to city tax records from 2022.

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 $50 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 21 of the 34 commercial properties representing 309,708 square feet of the 406,486 square feet. The largest owner is Rudin Management, followed by Alan Tauber and then Sue Talansky.
There are no active new building construction projects on this tax block.

The majority, or 50 percent of the 406,486 square feet of built space are walkup buildings, with elevator buildings next occupying 50 percent of the space.

The borrower

The PincusCo database currently indicates that Abc Management owned at least four commercial properties with 40 residential units in New York City with 48,586 square feet and a city-determined market value of $14.3 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Manhattan.

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