Fred Guindi pays $3.6M to HUBB NYC for mixed-use in Lenox Hill

Fred Guindi through the entity 1018 Lexington Ave Nyc LLC paid $3.6 million to HUBB NYC through the entity 1018 Lexington Ave Co. LLC for the five-unit mixed-use building (K4) at 1018 Lexington Avenue in Lenox Hill, Manhattan.
The deal closed on March 20, 2026 and was recorded on March 31, 2026. The property has 3,864 square feet of built space and 8,377 square feet of additional air rights for a total buildable of 12,240 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $944 and the price per buildable square foot is $298 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 seller bought the property on November 23, 2011, for $4 million. The signatory for HUBB NYC was John P. McCarthy and Steve Dluzyn. The signatory for Fred Guindi was Fred Guindi. The contract date was December 22, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Fred Guindi had purchased two other properties for $5.2 million and has no record it sold any properties over the past 24 months.
The seller HUBB NYC purchased five properties in five transactions for a total of $193.3 million and sold seven properties in six transactions for a total of $30.5 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes John Mccarthy, head officer and Deborah Kasner, agent. The business entities are Hubb Nyc Property Management and 1018 Lexington Ave Co Trevi Llc. The 3,864-square-foot property generated revenue of $377,224 or $98 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 5 residential units in Lenox Hill has 3,864 square feet of built space and 8,377 square feet of additional air rights for a total buildable of 12,240 square feet according to a PincusCo analysis of city data. The parcel has frontage of 17 feet and is 80 feet deep with a total lot size of 1,360 square feet. The zoning is C1-8X which allows for up to 2 times floor area ratio (FAR) for commercial and up to 9 times FAR for residential with inclusionary housing. The property is in the Upper East Side Historic District Extension. The city-designated market value for the property in 2022 is $2.6 million.

Transaction Participants

Jack A. Aini at Aini & Associates PLLC participated in the transaction on behalf of the buyer .

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 Lenox Hill, The bulk, or 34 percent of the 53.3 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 30 percent of the space. In sales, Lenox Hill has the 2nd highest sale turnover among other neighborhoods in the city with $4.8 billion in sales volume in the last two years. For development, Lenox Hill has near average amount of major developments among other neighborhoods and is the 23rd highest in Manhattan. It had 1.7 million 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. There were 132 pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of 10 of the 20 commercial properties representing 73,843 square feet of the 135,581 square feet. The largest owner is Sol Goldman Investments, followed by L. Fisk Warren Of Michelle P Warren and then Solil Management.
There are no active new building construction projects on this tax block.

The majority, or 34 percent of the 135,581 square feet of built space are mixed-use buildings, with walkup buildings next occupying 32 percent of the space.

The seller

The PincusCo database currently indicates that Hubb Nyc owned at least 64 commercial properties with 1,714 residential units in New York City with 1,353,411 square feet and a city-determined market value of $450.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 70 percent of the 1,353,411 square feet of built space are elevator properties, with walkup properties next occupying 25 percent of the space. The bulk, or 58 percent of the built space, is in Manhattan, with Brooklyn next at 42 percent of the space.

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