Ilio Mavlyanov pays $4.8M to Viewgrow for 10-unit walkup in Grand Central

Ilio Mavlyanov through the entity Murray Hill Pads LLC paid $4.8 million to Viewgrow Capital Asset Management through the entity 25 East 38th Street, LLC for the 10-unit residential walkup building (C4) at 25 East 38th Street in Grand Central, Manhattan. The expected use is cash flowing.
The deal closed on February 10, 2026 and was recorded on February 18, 2026. The property has 6,460 square feet of built space and 1,845 square feet of additional air rights for a total buildable of 8,296 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $743 and the price per buildable square foot is $578 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 May 4, 2011, for $3 million. The signatory for Viewgrow Capital Asset Management was Neil Madsen . The signatory for Ilio Mavlyanov was Ilio Mavlyanov. The contract date was October 29, 2025. Invictus Property Advisors represented the buyer, while JLL represented the seller.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Ilio Mavlyanov had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Viewgrow Capital Asset Management 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 Neil Madsen, head officer and Dustin Zucker, agent. The business entities are Ra Cohen & Associates, Inc. and 25 East 38th Street Llc.

The property

The residential walkup building with 10 residential units in Grand Central has 6,460 square feet of built space and 1,845 square feet of additional air rights for a total buildable of 8,296 square feet according to a PincusCo analysis of city data. The parcel has frontage of 21 feet and is 98 feet deep with a total lot size of 2,074 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 $2.9 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 four housing 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 eight of the 20 commercial properties representing 1,188,113 square feet of the 1,503,905 square feet. The largest owner is Amtrust Realty, followed by Sapir Organization and then Mcsam Hotel Group.
There are no active new building construction projects on this tax block.

The majority, or 85 percent of the 1.5 million square feet of built space are office buildings, with hotel buildings next occupying 13 percent of the space.

The buyer

The PincusCo database currently indicates that Ilio Mavlyanov owned at least one commercial property with 10 residential units in New York City with 5,808 square feet and a city-determined market value of $4.2 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Manhattan.

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