Makkos Equities pays $7M to Birchwood Properties for 11-unit walkup in Yorkville

Makkos Equities through the entity 67-65 Greene Street, LLC paid $7 million to Birchwood Properties through the entity York 84 LLC for the 11-unit residential walkup building (C7) at 1594 York Avenue in Yorkville, Manhattan. The expected use is cash flowing.
The deal closed on June 16, 2026 and was recorded on June 24, 2026. The property has 11,650 square feet of built space and 12,838 square feet of additional air rights for a total buildable of 24,500 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $605 and the price per buildable square foot is $287 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 Birchwood Properties was Robert Spitalnick . The signatory for Makkos Equities was George Makkos . The contract date was April 16, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Makkos Equities had purchased any other properties and sold two properties in one transaction for a total of $31.8 million over the past 24 months.
The seller Birchwood Properties had not purchased any other properties and sold three properties in three transactions for a total of $18.6 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Robert Spitalnick, head officer and Loretta Spiteri, site manager. The business entity is York 84 Llc.

The property

The residential walkup building with 11 residential units in Yorkville has 11,650 square feet of built space and 12,838 square feet of additional air rights for a total buildable of 24,500 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 98 feet deep with a total lot size of 2,450 square feet. The zoning is R10 which allows for up to 10 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $3.7 million.

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 this tax block, PincusCo has identified the owners of four of the 12 commercial properties representing 244,812 square feet of the 683,117 square feet. The largest owner is Weinreb Management , followed by Sidney Schwartzberg and then Chris Paravalos.
There are no active new building construction projects on this tax block.

The majority, or 72 percent of the 683,117 square feet of built space are elevator buildings, with specialty buildings next occupying 19 percent of the space.

The seller

The PincusCo database currently indicates that Birchwood Properties owned at least three commercial properties with 47 residential units in New York City with 27,234 square feet and a PincusCo-determined asset value of $21.6 million. Within the portfolio, all identified are walkup properties.

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