Manoucher Ashourzadeh signs $16.8M refi with Chase for 64-unit mixed-use in East Harlem

Manoucher Ashourzadeh through the entity Golbar, LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $16.8 million for a mixed-use building at 2205 Third Avenue in East Harlem, Manhattan, divided into two commercial condominium units, one encompassing 64 residential apartments and the other a retail unit.
The deal closed on January 29, 2026 and was recorded on February 3, 2026. The prior lender was Santander Bank which held debt that had an original loan amount of $16.8 million.The two properties have 45,694 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $367 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 Manoucher Ashourzadeh was Manoucher Ashourzadeh. The signatory for JPMorgan Chase was Ursula Flores .

The property

The building with 64 residential units in East Harlem has 45,694 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 35,564 square feet. The property has a 421A exemption that started in 2013 and expires in 2028. The city-designated market value for the property in 2022 is $7.3 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

For the tax lot buildings, one out of the two buildings received a initial certificate of occupancy in the last ten years. 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 the tax block of 2205 3rd Avenue, PincusCo has identified the owners of five of the 33 commercial properties representing 33,611 square feet of the 179,200 square feet. The largest owner is Hope Community, followed by Abj Properties and then David Sohayeg.
There are no active new building construction projects on this tax block.

The majority, or 49 percent of the 179,200 square feet of built space are industrial buildings, with walkup buildings next occupying 47 percent of the space.

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