California entity pays $6M for 9-unit walkup in Lincoln Square

A California entity, 3517 Schaefer, LLC, paid $6 million to Aviva Jakubowicz through the entity The J.R. Limited Partnership for the nine-unit residential walkup building at 73 West 68th Street in Lincoln Square, Manhattan.
The deal closed on January 10, 2022 and was recorded on February 3, 2022.
The property has 6,831 square feet of built space and 6,761 square feet of additional air rights for a total buildable of 13,596 square feet according to PincusCo analysis of city data. The sale price per built square foot is $878 and the price per buildable square foot is $441 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 Aviva Jakubowicz was Aviva Jakubowicz.

The seller Aviva Jakubowicz had not purchased any other properties and sold four properties in four transactions for a total of $25.8 million over the same time period.

In Lincoln Square, the majority, or 67 percent of the 30.8 million square feet of built space are residential elevator buildings, with specialty buildings next occupying 20 percent of the space. In sales, Lincoln Square has near average sales volume among other neighborhoods with $255.9 million in sales volume in the last two years and is the 30th highest in Manhattan. For development, Lincoln Square has had very little major development activity relative to other neighborhoods.It had 312,706 square feet of commercial and multi-family construction under development in the last two years, which represents 1 percent of the neighborhood’s built space.
On the tax block, the majority, or 58 percent of the 891,444 square feet of built space are residential elevator buildings, with residential walkup buildings next occupying 34 percent of the space.
The owners according to the Department of Housing Preservation and Development includes Adam Jakubowicz, head officer and Aviva Jakubowicz, agent. The business entity is Jr Limited Partnership.
Within a 400-foot radius of 73 West 68th Street, Pincusco identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, two were sales above $5 million totaling $85.6 million. The most recent of the two was HUBB NYC which bought the 13,525-square-foot, 21-unit rental (C7) on 77 West 68th Street and four other properties for $60.5 million from AIR Communities on November 19, 2021.
Of those four items, two were loans above $5 million totaling $72.2 million. The most recent of the two was Fine Times which borrowed $50 million from Citibank secured by the 30,480-square-foot, 10-unit rental (C5) on 44 West 69th Street and 19 other properties on August 10, 2021.

Direct link to Acris document. link