Grun Group, partners pay $2.8M to Galaxy G.C. for 44-unit Mott Haven dev site

Grun Group, Chesky Lefkowitz, and Moshe Friedlander through the entity 496 E 134 LLC paid $2.8 million to Galaxy General Contracting through the entity 2758 Kt LLC for the development site at 496 East 134th Street in Bronx. The expected use is ground up construction.
At the same time, the partners obtained a $9.8 million construction loan from IceCap Group.

Yaakov Lefkowitz, principal of Lefko Capital Group submitted a new building construction project for a 44-unit, 27,808 square-foot residential (R-2) building at 496 East 134 Street in Mott Haven, Bronx. The plan was filed with the New York City Department of Buildings on August 7, 2025 under job number X01266624. It calls for the construction of a five-story building. The project is described in the filing as: new 5-story and penthouse 44-family building.
The deal closed on January 15, 2026 and was recorded on January 28, 2026. The property has zero square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $N/A 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 Galaxy General Contracting was Steve Zervoudis and Anthony J. Paone. The signatory for Grun Group , Chesky Lefkowitz, and Moshe Friedlander was Yonah Grunhut , Chesky Lefkowitz, and Moshe Friedlander. The contract date was June 24, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records the seller Galaxy General Contracting purchased one property in one transaction for a total of $8.2 million and had not sold any properties over the past 24 months.

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 one of the 20 commercial properties representing 1,800 square feet of the 171,723 square feet. The identified owner is Bill Wolf Petroleum Corp..
On the tax block, there was one new building construction project filed totaling 27,808 square feet. It is a 44-unit, 27,808 square-foot residential (R-2) building submitted by Lefko Capital Group and filed by Yaakov Lefkowitz with plans filed August 7, 2025 and it has not been permitted yet.

The majority, or 60 percent of the 171,723 square feet of built space are industrial buildings, with hotel buildings next occupying 24 percent of the space.

The seller

The PincusCo database currently indicates that Galaxy General Contracting owned at least 13 commercial properties with 173 residential units in New York City with 299,604 square feet and a city-determined market value of $44.8 million. (Market value is typically about 50% of actual value.) The portfolio has $29.7 million in debt, with top three lenders as Community Preservation Corporation, NYC Housing Development Corporation, and Ponce Bank respectively. Within the portfolio, the bulk, or 61 percent of the 299,604 square feet of built space are mixed-use properties, with elevator properties next occupying 18 percent of the space. The bulk, or 62 percent of the built space, is in Queens, with Bronx next at 38 percent of the space.

The buyer

The PincusCo database currently indicates that Grun Group owned at least five commercial properties with 10 residential units in New York City with 11,062 square feet and a city-determined market value of $3 million. (Market value is typically about 50% of actual value.) The portfolio has $6.8 million in debt, borrowed from IceCap Group. Within the portfolio, the bulk, or 56 percent of the 11,062 square feet of built space are C0 properties, with B2 properties next occupying 44 percent of the space. They are all located in Bronx.

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