Candor Capital files plans for 83-unit building in Inwood

Charles Wurzberger , president of Candor Capital submitted a new building construction project for an 83-unit, 69,226 square-foot residential (R-2) building at 500 West 218th Street in Inwood, Manhattan. The plan was filed with the New York City Department of Buildings on August 6, 2025 under job number M01257465. It calls for the construction of a 11-story building. The project is described in the filing as: 11 story plus cellar mixed-use new building with 83 dwelling units. The architect is JFA Architects & Engineers.
The project calls for 9,868 square feet of retail on the ground floor, apartments on the second through the 10th floors and a tenant lounge on the 11th floor.

Property records do not reflect Candor Capital as the owner of the property, however it is not uncommon for plans to be filed before property records show a change in ownership.

500 West 218th Street

The property

The retail building in Inwood has 2,433 square feet of built space and 19,489 square feet of additional air rights for a total buildable of 21,945 square feet according to a PincusCo analysis of city data. The parcel has frontage of 103 feet and is 65 feet deep with a total lot size of 5,225 square feet. The lot is irregular. The zoning is R7D which allows for up to 4.2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $817,000. The most recent loan totaled 0.0 and was provided by 5099 Broadway Lender LLC on May 20, 2021.

Prior sales and revenue

This property was sold with another property by Melanie Orlofsky for $2.3 million to Milton Rainford on April 7, 2022.

The 2,433-square-foot property generated revenue of $116,709 or $48 per square foot, according to the most recent income and expense figures.

Violations and lawsuits

According to city public data, the property has received $330 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Inwood, The bulk, or 43 percent of the 15 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 34 percent of the space. In sales, Inwood has near average sales volume among other neighborhoods with $85.6 million in sales volume in the last two years and is the 38th highest in Manhattan. For development, Inwood has near average amount of major developments among other neighborhoods and is the 30th highest in Manhattan. It had 459,538 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 15 of the 31 commercial properties representing 714,687 square feet of the 1,042,349 square feet. The largest owner is Aaron Sussman, followed by Azimuth Development Group and then Chaim Schweid. On the tax block, there were two new building construction projects totaling 112,429 square feet. The largest is a 83-unit, 69,226 square-foot residential (R-2) building submitted by Candor Capital and filed by Charles Wurzberger with plans filed August 6, 2025 and it has not been permitted yet. The second largest is a 60-unit, 43,203 square-foot residential (R-2) building submitted by Timber Equities and filed by Michel Perle with plans filed September 8, 2021 and permitted August 28, 2024.

The owner

The PincusCo database currently indicates that Milton Rainford owned at least two commercial properties in New York City with 4,588 square feet and a city-determined market value of $898,000. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 53 percent of the 4,588 square feet of built space are retail properties, with M1 properties next occupying 47 percent of the space. The bulk, or 53 percent of the built space, is in Manhattan, with Bronx next at 47 percent of the space.

The surrounding

This is the first commercial real estate event of interest identified within the 400-foot radius of 5099 Broadway in the past 24 months.

Direct link to the property’s ACRIS page and link to DOB NOW portal.