Japan-affiliated buyer pays $8.8M to JPB Enterprises for 12-unit walkup in Lenox Hill

The entity KMK NY Inc. with an address at the Midtown-based Japanese-American job placement firm Actus Consulting Group, paid $8.8 million to JPB Enterprises through the entity 1374 Third Avenue Inc. for the 12-unit residential walkup building (C7) at 1374 Third Avenue in Lenox Hill, Manhattan. It was unclear if this was an investment property or would be owner-occupied. The buyer did not immediately respond to a request for comment.
The deal closed on June 16, 2025 and was recorded on June 17, 2025. The property has 10,489 square feet of built space and 15,170 square feet of additional air rights for a total buildable of 25,670 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $836 and the price per buildable square foot is $341 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 JPB Enterprises was Steven M. Bari . JPB Enterprises was founded in 1988 by Joseph P. Bari. The signatory for Actus Consulting Group was Shigeki Tsuchiya . The contract date was May 5, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Actus Consulting Group had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller JPB 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 Steve Bari, head officer and Steven Bari, head officer. The business entity is 1374 Third Avenue Inc C/O J.P. Bari. The 10,489-square-foot property generated revenue of $752,429 or $72 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 12 residential units in Lenox Hill has 10,489 square feet of built space and 15,170 square feet of additional air rights for a total buildable of 25,670 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,567 square feet. The zoning is C1-9 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $4.3 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 $50 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 six of the 15 commercial properties representing 19,514 square feet of the 116,461 square feet. The two identified owners are W Financial and Benjamin Klapper.
There are no active new building construction projects on this tax block.

The majority, or 44 percent of the 116,461 square feet of built space are mixed-use buildings, with walkup buildings next occupying 37 percent of the space.

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