GRE, Mark J. Schwartz, pay $5.7M to Sharp Management for walkups in Longwood

GRE Holdings and Mark J. Schwartz through the entity Cauldwell Avenue Housing Associates LLC paid $5.7 million to Sharp Management through the entity Bronx Sharp Realty LLC for the 41-unit residential walkup building (C1) at 643 Cauldwell Avenue in Longwood, Bronx and 43-unit residential walkup building (C1) at 647 Cauldwell Avenue in Longwood, Bronx. The expected use is cash flowing.
The deal closed on May 27, 2026 and was recorded on June 10, 2026. The two properties have 57,408 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $98 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 Sharp Management was Martin Kirzner . The signatory for Mark J. Schwartz and GRE Holdings was David Koshers . The contract date was April 17, 2026. Gilman Management rebranded as GRE Holdings.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 643 Cauldwell Avenue.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Mark J. Schwartz had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Sharp Management had not purchased any other properties and sold one property in one transaction for a total of $4.9 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Martin Kirzner, head officer and Ben Schwadel, site manager. The business entity is Bronx Sharp Realty Llc. The two properties with a total of 57,408 square feet of built space generated revenue of $1.1 million per year or $19 per square foot. The sale price per square foot was $99.

The property

The residential walkup building with 41 residential units according to a PincusCo analysis of city data. The parcel has frontage of 56 feet and is 115 feet deep with a total lot size of 6,440 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The property has a J-51 exemption that started in 1999 and expires in 2033. The city-designated market value for the property in 2022 is $3.3 million. The property has 41 rent regulated units according to city tax records from 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received four DOB violations, $25,000 in ECB penalties, 159 housing violations, $16,590 in OATH penalties, and one housing litigation 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 the tax block of 643 Cauldwell Avenue, PincusCo has identified the owners of four of the 10 commercial properties representing 100,012 square feet of the 140,665 square feet. The largest owner is Sharp Management, followed by Richard J. Glielmi and then Felice Belfiore.
On the tax block, there were four new building construction projects totaling 185,817 square feet. The largest is a 175-unit, 164,352 square-foot residential (R-2) building submitted by Phipps Houses and filed by Michael Wadman with plans filed April 12, 2017 and permitted July 27, 2018. The second largest is a 13-unit, 8,805 square-foot residential (R-2) building submitted by Louis Calos with plans filed October 16, 2019 and permitted July 20, 2021.

The majority, or 82 percent of the 140,665 square feet of built space are walkup buildings, with elevator buildings next occupying 10 percent of the space.

The seller

The PincusCo database currently indicates that Sharp Management owned at least 60 commercial properties with 1,531 residential units in New York City with 1,341,389 square feet and a PincusCo-determined asset value of $237.8 million. The portfolio has $133.2 million in debt, with top three lenders as New York Community Bank , JPMorgan Chase, and Newpoint Real Estate Capital respectively. Within the portfolio, the bulk, or 66 percent of the 1,341,389 square feet of built space are walkup properties, with elevator properties next occupying 29 percent of the space. The bulk, or 62 percent of the built space, is in Bronx, with Manhattan next at 20 percent of the space.

Direct link to Acris document. link