AYA pays $14.9M to Sackman Enterprises for residential elevator building in Yorkville

The owner of the co-living company AYA through the entity Sparton NY 2021 LLC paid $14.9 million to Sackman Enterprises through the entity Keyah Grande, LLC for 25-unit residential elevator building at 240 East 90th Street in Yorkville, Manhattan.
The deal closed on December 29, 2021 and was recorded on February 17, 2022.
The property has 21,000 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $709 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 Sackman Enterprises was Alan Sackman. The signatory for AYA was Amir Shriki.
Prior to this transaction, the buyer AYA had not purchased any other properties and had not sold any properties over the past 24 months.
The seller Sackman Enterprises had not purchased any other properties and sold two properties in two transactions for a total of $9.1 million over the same time period.
Sackman Enterprises owns at least 44 properties with a total of 478,339 square feet that have 617 residential units, according to a PincusCo analysis of city records.
The 21,000-square-foot property generated revenue of $1.1 million or $51 per square foot, according to the most recent income and expense figures.

Amir Shriki is the founder of AYA, which is located at the same address as the buyer LLC. AYA is a co-living space was previously known as Big Apple Living.

In Yorkville, the majority, or 71 percent of the 43.2 million square feet of built space are residential elevator buildings, with residential walkup buildings next occupying 17 percent of the space. In sales, Yorkville has 1.4 times the average sales volume among other neighborhoods with $398.1 million in sales volume in the last two years and is the 23rd highest in Manhattan. For development, Yorkville has 1.7 times the average amount of major developments relative to other neighborhoods and is the 13th highest in Manhattan. It had 1.5 million square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.
On the tax block, the majority, or 39 percent of the 579,717 square feet of built space are residential elevator buildings, with residential walkup buildings next occupying 37 percent of the space.
The former owners according to the Department of Housing Preservation and Development included Alan Sackman, head officer and James Hefelfinger, officer. The business entities were Sackman Enterprises, Inc. and Keyah Grande, Llc.
Within a 400-foot radius of 240 East 90th Street, Pincusco identified three commercial real estate items of interests occurred over the past 24 months.
One of those three items was a sale which Jose Serruya bought the 10,465-square-foot, 20-unit rental (C5) on 223 East 89th Street for $12 million from JAM Real Estate Partners on July 22, 2019.
Of those three items, two were loans above $5 million totaling $12 million. The most recent of the two was Jose Serruya which borrowed $5.5 million from JPMorgan Chase secured by the 10,465-square-foot, 20-unit rental (C5) on 223 East 89th Street on January 4, 2022.

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