Island Auto Group pays $21.6M for second group of auto sales locations on Staten Island

Island Auto Group purchased a second group of auto dealership locations on Staten Island from members of the Manfredi family, paying $21.6 million for eight tax lots generally fronting Hyland Boulevard between Atlantic and Delaware avenues in the neighborhood of Dongan Hills. The sales were recorded in seven separate transactions. On the same day, Island Auto Group paid $23.26 million for another group of dealership locations, which PincusCo reported on previously.

In the first of the new transactions, Island Auto Group through the entity 1590 Hylan Blvd Realty, LLC acquired an interest from Nicky Manfredi and Anna Manfredi through the entity Mf Am1 Owner, LLC valued at $9.2 million for the auto dealership (G8) at 1590 Hylan Boulevard in Dongan Hills, Staten Island.
The deal closed on November 7, 2025 and was recorded on November 17, 2025. The property has 20,425 square feet of built space and 12,502 square feet of additional air rights for a total buildable of 32,900 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $451 and the price per buildable square foot is $280 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.)

In the second, Island Auto Group through the entity 1591 Hylan Blvd Realty, LLC acquired an interest from Nicky Manfredi and Anna Manfredi through the entity Mf Am1 Owner, LLC valued at $4.4 million for the auto dealership (G8) at 1591 Hylan Boulevard in Dongan Hills, Staten Island.

In the third, Island Auto Group through the entity 1581 Hylan Blvd Realty, LLC acquired an interest from Nicky Manfredi and Anna Manfredi through the entity Mf Am1 Owner, LLC valued at $3.5 million for the auto dealership (G8) at 1581 Hylan Boulevard in Dongan Hills, Staten Island.
The deal closed on November 7, 2025 and was recorded on November 17, 2025. The property has 7,888 square feet of built space and 4,625 square feet of additional air rights for a total buildable of 12,500 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $445 and the price per buildable square foot is $281 per the PincusCo analysis.
In the fourth, Island Auto Group through the entity 1605 Hylan Blvd Realty, LLC acquired an interest from Nicky Manfredi and Anna Manfredi through the entity Mf Am1 Owner, LLC valued at $2.3 million for the auto dealership (G8) at 1605 Hylan Boulevard in Dongan Hills, Staten Island.
Three other properties included 69 Winfield Avenue and 319 Delaware Avenue.

The deal closed on November 7, 2025 and was recorded on November 17, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Island Auto Group purchased nine properties in eight transactions for a total of $63.8 million and has no record it sold any properties over the past 24 months.
The seller Nicky Manfredi had not purchased any other properties and sold six properties in five transactions for a total of $23.3 million over the same time period.

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 the tax block, there were four new building construction projects totaling 7,500 square feet. The largest is a one-unit, 1,875 square-foot residential (R-3) building submitted by Joseph Farella with plans filed May 11, 2025 and permitted July 11, 2025. The second largest is a one-unit, 1,875 square-foot residential (R-3) building submitted by Joseph Farella with plans filed May 11, 2025 and permitted July 11, 2025.

The majority, or 100 percent of the 31,225 square feet of built space are industrial buildings, with development buildings next occupying 0 percent of the space.

The buyer

The PincusCo database currently indicates that Island Auto Group owned at least two commercial properties in New York City with 30,445 square feet and a city-determined market value of $2.3 million. (Market value is typically about 50% of actual value.) The portfolio has $18.7 million in debt, borrowed from Ally Bank. Within the portfolio, all identified are industrial properties. They are all located in Bronx.

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