Abraham Biller pays $5.7M to Levites Realty, Rettner Realty for 85-unit dev site in East Harlem

Abraham Biller through the entity Second Avenue Tyh LLC paid $5.7 million to Levites Realty and Rettner Realty through the entity 2nd Ave. Investments LLC for the 85-unit development site at 251 East 121st Street, in East Harlem, Manhattan. The expected use is ground up development.

On these lots, there is one active new building construction project, M01270610, for a 85-unit, 57,840 square-foot residential (R-2) building. The project was submitted by Abraham Biller and filed by Abraham Biller with plans filed August 21, 2025 and it has not been permitted yet.
The deal closed on January 29, 2026 and was recorded on February 2, 2026. The four properties have 2,890 square feet of built space and 45,559 square feet of additional air rights for a total buildable of 48,451 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $117 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 Levites Realty and Rettner Realty was Robert Semaya. The signatory for Abraham Biller was Abraham Biller. The contract date was June 26, 2025.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 2361 Second Avenue.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Abraham Biller purchased two properties in two transactions for a total of $10.3 million and has no record it sold any properties over the past 24 months.
The seller Levites Realty had not purchased any other properties and had not sold any properties over the same time period.

The property

The development building in East Harlem has 2,890 square feet of built space and 45,559 square feet of additional air rights for a total buildable of 48,451 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 53 feet deep with a total lot size of 1,395 square feet. The zoning is R9A which allows for up to 7.52 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $732,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

The neighborhood

In East Harlem, The majority, or 51 percent of the 52.4 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 21 percent of the space. In sales, East Harlem has 1.5 times the average sales volume among other neighborhoods with $494.8 million in sales volume in the last two years and is the 21st highest in Manhattan. For development, East Harlem has 2 times the average amount of major developments relative to other neighborhoods and is the 12th highest in Manhattan. It had 3 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On the tax block of 2361 Second Avenue, PincusCo has identified the owners of eight of the 31 commercial properties representing 130,841 square feet of the 358,638 square feet. The largest owner is Hope Community, followed by Sharon Kahen and then Mack Real Estate Group.
On the tax block, there was one new building construction project filed totaling 57,840 square feet. It is a 85-unit, 57,840 square-foot residential (R-2) building submitted by Abraham Biller and filed by Abraham Biller with plans filed August 21, 2025 and it has not been permitted yet.

The majority, or 34 percent of the 358,638 square feet of built space are walkup buildings, with specialty buildings next occupying 32 percent of the space.

The seller

The PincusCo database currently indicates that Rettner Realty owned at least one commercial property with six residential units in New York City with 43,393 square feet and a city-determined market value of $9.2 million. (Market value is typically about 50% of actual value.) The portfolio has $5 million in debt, borrowed from Webster Bank. The portfolio consists of at least a single office property. It is located in Manhattan.

The buyer

The PincusCo database currently indicates that Abraham Biller owned at least 11 commercial properties with 181 residential units in New York City with 69,759 square feet and a city-determined market value of $10.8 million. (Market value is typically about 50% of actual value.) The portfolio has $139.8 million in debt, with top three lenders as Broadview Capital, NorthEast Community Bank, and Walker & Dunlop respectively. Within the portfolio, the bulk, or 62 percent of the 69,759 square feet of built space are elevator properties, with industrial properties next occupying 29 percent of the space. The bulk, or 71 percent of the built space, is in Bronx, with Brooklyn next at 29 percent of the space.

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