Investor pays $6M for 14-unit walkup in Yorkville

Angela Maria Notaro-Motta through the entity 221 East 83rd Street LLC paid $6 million to Sandra M. Szamatolski and Audrey Samz through the entity Desert Rose Management LLC for the 14-unit residential walkup building (C7) at 221 East 83rd Street in Yorkville, Manhattan. The expected use is cash flowing.
The deal closed on June 9, 2025 and was recorded on June 12, 2025. The property has 9,485 square feet of built space and 908 square feet of additional air rights for a total buildable of 10,384 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $632 and the price per buildable square foot is $577 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 Sandra M. Szamatolski and Audrey Samz was Anthony Simari , Audrey Samz, and Sandra M. Szamatolski. The signatory for Angela Maria Notaro-Motta was Angela Maria Notaro-Motta. The contract date was March 19, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Angela Maria Notaro-Motta had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Sandra M. Szamatolski 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 Audrey Samz, head officer and Sandra Szamatolski, officer. The business entities are Rialto Management Corp and Elisabeth Szamatolski Trust. The 9,485-square-foot property generated revenue of $580,639 or $61 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 14 residential units in Yorkville has 9,485 square feet of built space and 908 square feet of additional air rights for a total buildable of 10,384 square feet 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 2,596 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 $2.7 million. The property has 4 rent regulated units according to city tax records from 2023.

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 two 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 22 commercial properties representing 81,348 square feet of the 248,843 square feet. The largest owner is Sky Management, followed by Lc Lemle Real Estate Group and then Alan Tauber.
On the tax block, there were two new building construction projects totaling 53,063 square feet. The largest is a nine-unit, 27,309 square-foot residential (R-2) building submitted by Robert Saffayeh and filed by Robert Saffayeh with plans filed September 24, 2024 and it has not been permitted yet. The second largest is a nine-unit, 25,754 square-foot residential (R-2) building submitted by Kano Real Estate and filed by Noam Shemel with plans filed December 9, 2022 and it has not been permitted yet.

The majority, or 39 percent of the 248,843 square feet of built space are walkup buildings, with elevator buildings next occupying 29 percent of the space.

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