Aryeh Realty pays $5M for mixed-use in Lenox Hill
146 East 74th Street (Credit 9 Cyclomedia)
UPDATED 5:25 a.m., August 25, 2025: Aryeh Realty through the entity 144 East 74th Street LLC paid $5 million to the entity 44 Country Associates Ltd for the two-unit mixed-use building (K4) at 146 East 74th Street in Lenox Hill, Manhattan. The expected use is cash flowing.
The deal closed on August 18, 2025 and was recorded on August 20, 2025. The property has 3,764 square feet of built space and 7,731 square feet of additional air rights for a total buildable of 11,502 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,328 and the price per buildable square foot is $434 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 20, 2006, for $3.7 million. The signatory for Ayhan Sav was Ayhan Sav. The contract date was June 4, 2025.
The signatory for Aryeh Realty, Andrew Aryeh, also leads Lion Cub Development, and the companies share a common address. It’s unclear if the owner is Aryeh Realty or Lion Cub Development.
Aryeh Realty is an active dealmaker in the area.
• Andrea D’Alessandro pays $6.2M to Aryeh Realty for mixed-use in Carnegie Hill (August 10, 2023)
• Aryeh Realty sells 8-unit walkup in Yorkville for $7.3M (June 30, 2023)
• Aryeh Realty pays $9M for two walkups with 20 units in Yorkville (July 27, 2022)
• Aryeh Realty buys second UES rental on block, paying $4.4M (October 25, 2021)
• Aryeh Realty pays $4.9M to Surrey family for UES rental (October 14, 2021)
• Torkian Group pays $12.9M to Aryeh Realty for mixed-use building in Yorkville (August 10, 2021)
Prior sales and revenue
Prior to this transaction, PincusCo has no record that the buyer Aryeh Realty had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Ayhan Sav had not purchased any other properties and had not sold any properties over the same time period. The 3,764-square-foot property generated revenue of $304,710 or $81 per square foot, according to the most recent income and expense figures.
The property
The mixed-use building with 2 residential units in Lenox Hill has 3,764 square feet of built space and 7,731 square feet of additional air rights for a total buildable of 11,502 square feet according to a PincusCo analysis of city data. The parcel has frontage of 18 feet and is 68 feet deep with a total lot size of 1,278 square feet. The zoning is C1-8X which allows for up to 2 times floor area ratio (FAR) for commercial and up to 9 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2 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 $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 neighborhood
In Lenox Hill, The bulk, or 34 percent of the 53.3 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 30 percent of the space. In sales, Lenox Hill has the 2nd highest sale turnover among other neighborhoods in the city with $3.4 billion in sales volume in the last two years. For development, Lenox Hill has 2.4 times the average amount of major developments relative to other neighborhoods and is the 11th highest in Manhattan. It had 3.5 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 this tax block, PincusCo has identified the owners of seven of the 16 commercial properties representing 87,950 square feet of the 170,524 square feet. The largest owner is Elysee Investment Company, followed by Sephardic Academy Of Manhattan, Inc. and then Joseph Moinian.
There are no active new building construction projects on this tax block.
The majority, or 35 percent of the 170,524 square feet of built space are mixed-use buildings, with specialty buildings next occupying 34 percent of the space.
The buyer
The PincusCo database currently indicates that Aryeh Realty owned at least 14 commercial properties with 112 residential units in New York City with 126,151 square feet and a city-determined market value of $51.4 million. (Market value is typically about 50% of actual value.) The portfolio has $43.8 million in debt, with top three lenders as JPMorgan Chase, Derby Copeland Capital, and Flushing Bank respectively. Within the portfolio, the bulk, or 60 percent of the 126,151 square feet of built space are walkup properties, with elevator properties next occupying 24 percent of the space. They are all located in Manhattan.
UPDATED by adding Lion Cub Development as possible buyer, along with identifying the signatory as Andrew Aryeh.
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