Bando Construction pays $17.8M to Four Winds Real Estate for 2 UWS walkups

Bando Construction through the entity Bando Geny 3 LLC paid $17.8 million to Four Winds Real Estate through the entity 4-10 West 108th Owners LLC for the 24-unit residential walkup building (C1) at 4-6 West 108th Street and the adjacent 24-unit residential walkup building (C1) at 8-10 West 108th Street in Upper West Side, Manhattan. The expected use is cash flowing.
The deal closed on October 1, 2025 and was recorded on October 17, 2025. The two properties have 41,940 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $423 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 Four Winds Real Estate was Joshua Landau . The signatory for Bando Construction was John Choi . The contract date was August 12, 2025. A CBRE team of Robert Shapiro, Daniel Kaplan and Ian Brooks brokered the sale.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Bando Construction purchased one property in one transaction for a total of $99.2 million and has no record it sold any properties over the past 24 months.
The seller Four Winds Real Estate purchased one property in one transaction for a total of $68 million and had not sold any properties over the same time period. The two properties with a total of 41,940 square feet of built space generated revenue of $1.3 million per year or $32 per square foot. The sale price per square foot was $423.

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 received $2,500 in ECB penalties, 22 housing violations, $4,475 in OATH penalties, and one housing litigation 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

On the tax block of 4-6 West 108th Street, PincusCo has identified the owners of 21 of the 27 commercial properties representing 368,547 square feet of the 470,066 square feet. The largest owner is Sugar Hill Capital Partners, followed by Lincoln Star Housing Corportation and then Aaron Jungreis.
There are no active new building construction projects on this tax block.

The majority, or 58 percent of the 470,066 square feet of built space are walkup buildings, with elevator buildings next occupying 42 percent of the space.

The seller

The PincusCo database currently indicates that Four Winds Real Estate owned at least eight commercial properties with 286 residential units in New York City with 253,545 square feet and a city-determined market value of $68.1 million. (Market value is typically about 50% of actual value.) The portfolio has $110.5 million in debt, with top three lenders as Arbor Realty Trust, Voya Financial, and Resource America respectively. Within the portfolio, the bulk, or 72 percent of the 253,545 square feet of built space are elevator properties, with walkup properties next occupying 27 percent of the space. They are all located in Manhattan.

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