Jade Century Properties pays $16.5M to Witnick, partner for 25-unit walkup in Yorkville

Jade Century Properties through the entity JCP Holding II LLC paid $16.5 million to Witnick Real Estate Partners and a partner through the entity Csfg7 (Us) Holding LLC for the 25-unit residential walkup building (C1) at 443 East 88th Street in Yorkville, Manhattan. The expected use is cash flowing.
The deal closed on February 9, 2026 and was recorded on March 13, 2026. The property has 16,244 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,015 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 January 5, 2022, for $12 million. The signatory for Witnick Real Estate Partners  and the undisclosed partner was Isaac Abraham and attorney Sandra Viana . The signatory for Jade Century Properties was Xiaorong Zhai . The contract date was November 10, 2025. Witnick held 8.16% and the unknown investor held 91.84%.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Jade Century Properties purchased one property in one transaction for a total of $9 million and sold one property in one transaction for a total of $32 million over the past 24 months.
The seller Witnick Real Estate Partners purchased 16 properties in nine transactions for a total of $122.1 million and sold one property in one transaction for a total of $18 million over the same time period. The former owner according to the Department of Housing Preservation and Development is Ramiel Benyehuda, head officer. The business entity is 443 E 88th Partners Llc.

The property

The residential walkup building with 25 residential units in Yorkville has 16,244 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 40 feet and is 100 feet deep with a total lot size of 4,027 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 $5.4 million.

Transaction Participants

Attorney Dylan Chan of Dylan Chan Law Firm participated in the transaction on behalf of the buyer .

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 $6,250 in ECB penalties and $16,910 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 12 of the 18 commercial properties representing 705,258 square feet of the 775,267 square feet. The largest owner is Glenwood Management, followed by Solil Management and then Nyc Department Of Education.
There are no active new building construction projects on this tax block.

The majority, or 76 percent of the 775,267 square feet of built space are elevator buildings, with walkup buildings next occupying 17 percent of the space.

The seller

The PincusCo database currently indicates that Witnick Real Estate Partners owned at least 45 commercial properties with 955 residential units in New York City with 729,143 square feet and a city-determined market value of $191.6 million. (Market value is typically about 50% of actual value.) The portfolio has $189.1 million in debt, with top three lenders as Arbor Realty Trust, Dime Community Bank, and Webster Bank respectively. Within the portfolio, the bulk, or 62 percent of the 729,143 square feet of built space are walkup properties, with elevator properties next occupying 38 percent of the space. The bulk, or 44 percent of the built space, is in Manhattan, with Brooklyn next at 38 percent of the space.

The buyer

The PincusCo database currently indicates that Jade Century Properties owned at least three commercial properties with 282 residential units in New York City with 562,330 square feet and a city-determined market value of $24.3 million. (Market value is typically about 50% of actual value.) The portfolio has $136.4 million in debt, with top three lenders as Jade Century Properties, East West Bank, and Cathay Bank respectively. Within the portfolio, the bulk, or 98 percent of the 562,330 square feet of built space are elevator properties, with walkup properties next occupying 2 percent of the space. The bulk, or 98 percent of the built space, is in Queens, with Brooklyn next at 2 percent of the space.

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