Fred Guindi pays $3M to HUBB NYC for mixed-use in Yorkville

Fred Guindi through the entity 1429 Third Ave LLC paid $3 million to HUBB NYC through the entity 1429 Third Ave Trevi LLC for the three-unit mixed-use building (S3) at 1429 Third Avenue in Yorkville, Manhattan.
The deal closed on March 20, 2026 and was recorded on March 30, 2026. The property has 3,288 square feet of built space and 7,711 square feet of additional air rights for a total buildable of 11,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $897 and the price per buildable square foot is $268 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 July 23, 2012, for $3.5 million. The signatories for HUBB NYC were 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 records that the buyer Fred Guindi purchased one property in one transaction for a total of $2.6 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 six properties in five transactions for a total of $27.6 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, officer. The business entity is 1429 Third Ave Trevi Llc. The 3,288-square-foot property generated revenue of $198,792 or $60 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 3 residential units in Yorkville has 3,288 square feet of built space and 7,711 square feet of additional air rights for a total buildable of 11,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 16 feet and is 67 feet deep with a total lot size of 1,100 square feet. The zoning is C1-9 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.6 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 received seven housing violations and $430 in OATH penalties 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 $472.7 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 2.4 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 13 of the 27 commercial properties representing 252,454 square feet of the 363,731 square feet. The largest owner is A&E Real Estate Holdings, followed by Manocherian Brothers and then Rosenfeld And Rosenbaum Medical Group.
There are no active new building construction projects on this tax block.

The majority, or 55 percent of the 363,731 square feet of built space are elevator buildings, with walkup buildings next occupying 27 percent of the space.

The seller

The PincusCo database currently indicates that Hubb Nyc owned at least 65 commercial properties with 1,717 residential units in New York City with 1,356,699 square feet and a city-determined market value of $452.8 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 70 percent of the 1,356,699 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.

The buyer

The PincusCo database currently indicates that Fred Guindi owned at least one commercial property with six residential units in New York City with 4,284 square feet and a city-determined market value of $974,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Brooklyn.

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