Bill Wolf Petroleum signs $8.5M refi for gas station in Yorkville

Bill Wolf Petroleum Corp. as borrower signed a refi loan with lender TD Bank valued at $8.5 million for the industrial building (G3) at 1855 First Avenue in Yorkville, Manhattan.
The deal closed on February 27, 2026 and was recorded on March 6, 2026. The prior lender was TD Bank which held debt that had an original loan amount of $11 million.The property has 752 square feet of built space and 99,856 square feet of additional air rights for a total buildable of 100,560 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $11,368 and the price per buildable square foot is $85 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 Bill Wolf Petroleum Corp. was Cary Wolf.

The property

The industrial building in Yorkville has 752 square feet of built space and 99,856 square feet of additional air rights for a total buildable of 100,560 square feet according to a PincusCo analysis of city data. The parcel has frontage of 125 feet and is 80 feet deep with a total lot size of 10,056 square feet. The zoning is R10A which allows for up to 10 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $3 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 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 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 1.4 times the average sales volume among other neighborhoods with $456.1 million in sales volume in the last two years and is the 24th highest in Manhattan. For development, Yorkville has 1.5 times the average amount of major developments relative to other neighborhoods and is the 15th highest in Manhattan. It had 2.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 9 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of nine of the 17 commercial properties representing 345,706 square feet of the 662,291 square feet. The largest owner is Carnegie East House, followed by Nyc Department Of Education and then Jewish Board Of Family And Children’S Services.
There are no active new building construction projects on this tax block.

The majority, or 47 percent of the 662,291 square feet of built space are elevator buildings, with specialty buildings next occupying 28 percent of the space.

The borrower

The PincusCo database currently indicates that Bill Wolf Petroleum Corp. owned at least 59 commercial properties with 26 residential units in New York City with 113,681 square feet and a city-determined market value of $56.8 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 70 percent of the 113,681 square feet of built space are industrial properties, with retail properties next occupying 28 percent of the space. The bulk, or 43 percent of the built space, is in Brooklyn, with Bronx next at 27 percent of the space.

Direct link to Acris document. link