Apex Investments pays $14.9M to Bayrock Capital for shelter in Yorkville

Apex Investments through the entity 91st St. Propco LLC paid $14.9 million to Bayrock Capital through the entity 419 Br Partners LLC for the homeless shelter building (N2) at 419 East 91st Street in Yorkville, Manhattan.
The deal closed on October 28, 2025 and was recorded on November 14, 2025. The property has 16,209 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $919 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 seller bought the property on July 21, 2020, for $4.3 million. The signatory for Bayrock Capital was Moshe Glassman . The signatory for Apex Investments was Kasra Sanandaji . The contract date was June 18, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Apex Investments purchased one property in one transaction for a total of $26.4 million and sold one property in one transaction for a total of $28 million over the past 24 months.
The seller Bayrock Capital purchased two properties in two transactions for a total of $99.1 million and sold one property in one transaction for a total of $26.4 million over the same time period.

The property

The specialty building in Yorkville has 16,209 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,517 square feet. The zoning is C8-4 which allows for up to 5 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $4.9 million.

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 $200 in ECB penalties and $640 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 neighborhood

In Yorkville, The majority, or 61 percent of the 26.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 28 percent of the space. In sales, Yorkville has 1.8 times the average sales volume among other neighborhoods with $529 million in sales volume in the last two years and is the 18th highest in Manhattan. For development, Yorkville has 1.4 times the average amount of major developments relative to other neighborhoods and is the 20th highest in Manhattan. It had 2.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 11 of the 16 commercial properties representing 686,379 square feet of the 771,442 square feet. The largest owner is Glenwood Management, followed by Stonehenge Nyc and then Eli Zabar.
There are no active new building construction projects on this tax block.

The majority, or 70 percent of the 771,442 square feet of built space are elevator buildings, with industrial buildings next occupying 8 percent of the space.

The seller

The PincusCo database currently indicates that Bayrock Capital owned at least 22 commercial properties with 480 residential units in New York City with 785,078 square feet and a city-determined market value of $176.2 million. (Market value is typically about 50% of actual value.) The portfolio has $396.2 million in debt, with top three lenders as Broadview Capital, Popular Bank, and M&T Bank respectively. Within the portfolio, the bulk, or 82 percent of the 785,078 square feet of built space are hotel properties, with walkup properties next occupying 8 percent of the space. The bulk, or 88 percent of the built space, is in Queens, with Manhattan next at 6 percent of the space.

The buyer

The PincusCo database currently indicates that Apex Investments owned at least one commercial property in New York City with 16,937 square feet and a city-determined market value of $12.1 million. (Market value is typically about 50% of actual value.) The portfolio has $22.7 million in debt, borrowed from Mizuho Bank. The portfolio consists of at least a single specialty property. It is located in Manhattan.

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