JAM Real Estate Partners pays $5.3M to Liberty Enterprises for 17-unit walkup in Yorkville

JAM Real Estate Partners through the entity Jam333e81 LLC paid $5.3 million to Liberty Enterprises through the entity 3m 81 LLC for the 17-unit residential walkup building (C1) at 333 East 81st Street in Yorkville, Manhattan. The expected use is cash flowing.
The deal closed on September 25, 2025 and was recorded on October 7, 2025. The property has 9,070 square feet of built space and 1,149 square feet of additional air rights for a total buildable of 10,216 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $584 and the price per buildable square foot is $518 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 Liberty Enterprises was Alvaro Jinete . The signatory for JAM Real Estate Partners was Jared Pinchasick . The contract date was July 25, 2025. Alvaro Jinete and Gerald Musano have been executives of Liberty Enterprises, a holding company affiliated with ownership of real estate.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer JAM Real Estate Partners purchased one property in one transaction for a total of $10.6 million and sold five properties in three transactions for a total of $72.5 million over the past 24 months.
The seller Liberty Enterprises 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 Jarrod Musano, head officer and Alysse Jinete, officer. The business entity is 333 E 81 Associates Llc. The 9,070-square-foot property generated revenue of $430,207 or $47 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 17 residential units in Yorkville has 9,070 square feet of built space and 1,149 square feet of additional air rights for a total buildable of 10,216 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 2,554 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 million. The property has 3 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 one DOB violation and $250 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial rehab certificate of occupancy on September 18, 2015. 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 19 of the 27 commercial properties representing 233,274 square feet of the 295,894 square feet. The largest owner is Eberhart Brothers, followed by Indev Real Estate and then Peter Djonovic.
On the tax block, there was one new building construction project filed totaling 100,824 square feet. It is a 32-unit, 100,824 square-foot residential (R-2) building submitted by Todd Cohen with plans filed September 24, 2014 and permitted January 8, 2018.

The majority, or 84 percent of the 295,894 square feet of built space are walkup buildings, with elevator buildings next occupying 11 percent of the space.

The seller

The PincusCo database currently indicates that Liberty Enterprises owned at least 10 commercial properties with 193 residential units in New York City with 105,578 square feet and a city-determined market value of $25.2 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 74 percent of the 105,578 square feet of built space are walkup properties, with elevator properties next occupying 22 percent of the space. The bulk, or 96 percent of the built space, is in Manhattan, with Bronx next at 4 percent of the space.

The buyer

The PincusCo database currently indicates that Jam Real Estate Partners owned at least five commercial properties with 99 residential units in New York City with 60,769 square feet and a city-determined market value of $17.6 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 75 percent of the 60,769 square feet of built space are walkup properties, with elevator properties next occupying 25 percent of the space. They are all located in Manhattan.

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