Lightstone Group signs $17.6M refi with JLL for 46-unit UWS rental

Lightstone Group through the entity 309 West 99th Street Associates LLC as borrower signed a refi loan with lender JLL through the entity JLL Real Estate Capital, LLC valued at $17.6 million for the 46-unit residential elevator building (D3) at 305 West 99th Street in Upper West Side, Manhattan.
The deal closed on April 20, 2026 and was recorded on May 5, 2026. The prior lenders were members of the Einy family which held debt that had an original loan amount of $10 million. The property has 48,099 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $365 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 owner bought the property on May 19, 2020, for $18.5 million. The signatory for Lightstone Group was Joseph E. Teichman . The signatory for JLL was Omar Lopez .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Meir Milgraum, head officer and Jacob Eisenstein, agent. The business entities are David Eisenstein Real Estate and 309 West 99th Street Associates Llc.

The property

The residential elevator building with 46 residential units in Upper West Side has 48,099 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 75 feet and is 100 feet deep with a total lot size of 7,569 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The property is in the Riverside-West End Historic District Extension II. The city-designated market value for the property in 2022 is $3.4 million. JLL on April 20, 2026 bought a loan with an original principal of $10.0 million from Galit Einy, Anat Sharon Einy and Liuba Rivka Einy, secured by 305 West 99th Street, when owned by Lightstone Group . The property has 10 rent regulated units according to city tax records from 2024.

Transaction Participants

Zack S. Ehudin, Esquire at Troutman Pepper Locke LLP participated in the transaction on behalf of the lender.

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 $1,250 in ECB penalties, 14 housing violations, and $1,550 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 four of the six commercial properties representing 307,903 square feet of the 487,459 square feet. The largest owner is Weinreb Management, followed by Lightstone Group and then Morris Schreiber.
There are no active new building construction projects on this tax block.

All properties are elevator.

The borrower

The PincusCo database currently indicates that Lightstone Group owned at least 47 commercial properties with 2,631 residential units in New York City with 3,388,388 square feet and a PincusCo-determined asset value of $2.2 billion. The portfolio has $2.1 billion in debt, with top three lenders as Reznik Paz Nevo Trusts, JLL, and Goldman Sachs respectively. Within the portfolio, the bulk, or 50 percent of the 3,388,388 square feet of built space are elevator properties, with condo properties next occupying 29 percent of the space. The bulk, or 36 percent of the built space, is in Manhattan, with Bronx next at 31 percent of the space.

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