Apex Investments pays $7.4M to Bayrock Capital for office in Concord

Apex Investments through the entity Hylan Propco LLC paid $7.4 million to Bayrock Capital through the entity 1055 Partners LLC for the office building (O7) at 1055 Hylan Boulevard in Concord, Staten Island.
The deal closed on October 28, 2025 and was recorded on December 11, 2025.
The seller bought the property on December 23, 2021, for $1.6 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 two properties in two transactions for a total of $41.3 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 two properties in two transactions for a total of $41.3 million over the same time period.

The property

The office building in Concord has 4,250 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 165 feet and is 73 feet deep with a total lot size of 10,625 square feet. The lot is irregular. The city-designated market value for the property in 2022 is $517,000.

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 not received any significant violations 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

There are no active new building construction projects on this tax block.

The majority, or 57 percent of the 9,815 square feet of built space are walkup buildings, with office buildings next occupying 43 percent of the space.

The seller

The PincusCo database currently indicates that Bayrock Capital owned at least 21 commercial properties with 480 residential units in New York City with 780,524 square feet and a city-determined market value of $167.8 million. (Market value is typically about 50% of actual value.) The portfolio has $404.5 million in debt, with top three lenders as Broadview Capital, Popular Bank, and Levon Capital respectively. Within the portfolio, the bulk, or 82 percent of the 780,524 square feet of built space are hotel properties, with walkup properties next occupying 8 percent of the space. The bulk, or 89 percent of the built space, is in Queens, with Manhattan next at 5 percent of the space.

The buyer

The PincusCo database currently indicates that Apex Investments owned at least two commercial properties in New York City with 21,491 square feet and a city-determined market value of $20.6 million. (Market value is typically about 50% of actual value.) The portfolio has $35.5 million in debt, borrowed from Mizuho Bank and Apex Investments. Within the portfolio, the bulk, or 79 percent of the 21,491 square feet of built space are specialty properties, with mixed-use properties next occupying 21 percent of the space. They are all located in Manhattan.

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