Gina Argento pays $10.8M for 8-unit rental in Lenox Hill

Gina Argento through the entity 49 East 78 Street NYC, Inc. paid $10.8 million to Young-Hee Lowe for the eight-unit residential elevator building (D6) at 49 East 78th Street in Lenox Hill, Manhattan. The expected use is cash flowing.
The deal closed on February 19, 2026 and was recorded on February 25, 2026. The property has 10,870 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $993 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 Young-Hee Lowe was Young-Hee Lowe. The signatory for Gina Argento was Gina Argento. The contract date was December 18, 2025. Gina Argento is an owner of Broadway Stages as well as real estate holdings apart from the film stage company.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Gina Argento had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Young-Hee Lowe had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Young-Hee Lowe, individual owner and Jay Vargas, site manager.

The property

The residential elevator building with 8 residential units in Lenox Hill has 10,870 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 102 feet deep with a total lot size of 2,554 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The property is in the Upper East Side Historic District. The city-designated market value for the property in 2022 is $7.1 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 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 block

On this tax block, PincusCo has identified the owners of seven of the 28 commercial properties representing 93,569 square feet of the 425,450 square feet. The largest owner is W. Graham Arader Iii, followed by Joseph Soufer and then Robert E. Mnuchin.
There are no active new building construction projects on this tax block.

The majority, or 31 percent of the 425,450 square feet of built space are office buildings, with elevator buildings next occupying 26 percent of the space.

The buyer

The PincusCo database currently indicates that Gina Argento owned at least two commercial properties with 38 residential units in New York City with 72,948 square feet and a city-determined market value of $15 million. (Market value is typically about 50% of actual value.) The portfolio has $15.6 million in debt, borrowed from Citizens Bank. Within the portfolio, the bulk, or 73 percent of the 72,948 square feet of built space are elevator properties, with specialty properties next occupying 27 percent of the space. They are all located in Brooklyn.

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