Holliswood Development pays $4.3M for residential walkup in Yorkville

Holliswood Development through the entity Holliswood 93, LLC paid $4.3 million to Omega Healthcare Investors through the entity OHI Asset (Ny) 93rd Street, LLC for the 46-unit residential walkup building (C7) at 303 East 93rd Street in Yorkville, Manhattan. The expected use is cash flowing.
The deal closed on February 27, 2026 and was recorded on March 9, 2026. The property has 14,644 square feet of built space and 2,997 square feet of additional air rights for a total buildable of 17,632 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $290 and the price per buildable square foot is $241 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 24, 2015, for $21.9 million. The signatory for Omega Healthcare Investors was Vikas Gupta . The signatory for Holliswood Development was Dana Lowey Luttway . The contract date was October 23, 2025. According to Omega Healthcare Investors, it is a REIT that, “provides financing and capital to the long-term healthcare industry, with a particular focus on skilled nursing facility and assisted living facility operators across the United States and the United Kingdom.”

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Holliswood Development purchased four properties in three transactions for a total of $15.6 million and has no record it sold any properties over the past 24 months.
The seller Omega Healthcare Investors 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 Vikas Gupta, head officer and James Adams, agent. The business entities are Maplewood Senior Living, Llc and Ohi Asset (Ny) 93rd Street, Llc.

The property

The residential walkup building with 46 residential units in Yorkville has 14,644 square feet of built space and 2,997 square feet of additional air rights for a total buildable of 17,632 square feet according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 4,408 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $4.8 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 $650 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 block

On this tax block, PincusCo has identified the owners of eight of the 24 commercial properties representing 72,086 square feet of the 462,689 square feet. The largest owner is Sassouni Management, followed by Gerard Mchugh and then Lynn Gettenberg.
There are no active new building construction projects on this tax block.

The majority, or 47 percent of the 462,689 square feet of built space are elevator buildings, with walkup buildings next occupying 39 percent of the space.

The buyer

The PincusCo database currently indicates that Holliswood Development owned at least nine commercial properties with 71 residential units in New York City with 54,657 square feet and a city-determined market value of $29.5 million. (Market value is typically about 50% of actual value.) The portfolio has $51.9 million in debt, with top three lenders as First Republic Bank, City National Bank, and Citizens Bank respectively. Within the portfolio, the bulk, or 70 percent of the 54,657 square feet of built space are walkup properties, with mixed-use properties next occupying 18 percent of the space. The bulk, or 57 percent of the built space, is in Manhattan, with Brooklyn next at 43 percent of the space.

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