Bruklyn Builders pays $9.2M to Landmark Management for mixed-use townhouse in Lenox Hill

Bruklyn Builders through the entity 115 E69 LLC paid $9.2 million to Landmark Management through the entity Landmark 115 East 69th St., L.P. for the office and residential building at 115 East 69th Street in Lenox Hill, Manhattan. The expected use is cash flowing.

The building was divided into four condominium units in 1986, including one office unit and three residential units. This sale is for all four units comprising the entire building.
The deal closed on June 11, 2026 and was recorded on June 16, 2026. The four properties have 9,981 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $916 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 Landmark Management was Earl A. Samson III. The signatory for Bruklyn Builders was David Halberstam . The contract date was June 11, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Bruklyn Builders purchased three properties in three transactions for a total of $14.7 million and sold two properties in one transaction for a total of $14.2 million over the past 24 months.
The seller Landmark Management had not purchased any other properties and had not sold any properties over the same time period.

The property

The office condo in Lenox Hill has 9,981 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 4,361 square feet. The city-designated market value for the property in 2022 is $3.6 million.

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 not received any significant violations in the last year.

Development

For the tax lot buildings, one out of the four buildings received a initial certificate of occupancy in the last ten years. 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 35 percent of the 52.8 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 29 percent of the space. In sales, Lenox Hill has the 3rd highest sale turnover among other neighborhoods in the city with $4.2 billion in sales volume in the last two years. For development, Lenox Hill has had very little major development activity relative to other neighborhoods.It had 1.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space. There were 121 pre-foreclosure suit filed among other office buildings in the past 12 months.

The block

On the tax block of 115 East 69th Street, PincusCo has identified the owners of eight of the 19 commercial properties representing 164,752 square feet of the 274,752 square feet. The largest owner is Union Club Of The City Of New York , followed by Nomad Ventures USA LLC and then Jeffrey M. Weiner.
There are no active new building construction projects on this tax block.

The majority, or 32 percent of the 274,752 square feet of built space are hotel buildings, with mixed-use buildings next occupying 24 percent of the space.

The buyer

The PincusCo database currently indicates that Bruklyn Builders owned at least six commercial properties with 206 residential units in New York City with 32,711 square feet and a PincusCo-determined asset value of $208.3 million. The portfolio has $176.5 million in debt, with top three lenders as S3 Capital , Zions Bancorporation , and LMF Commercial respectively. Within the portfolio, the bulk, or 40 percent of the 32,711 square feet of built space are walkup properties, with retail properties next occupying 22 percent of the space. The bulk, or 59 percent of the built space, is in Brooklyn, with Manhattan next at 40 percent of the space.

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