Mehran Dayanzadeh pays $5.4M to Kushner, C-III for 20-unit walkup in Yorkville

Mehran Dayanzadeh through the entity 233 East 82 LLC paid $5.4 million to Kushner Companies and C-III Capital Partners through the entity KC3 – 233 East 82nd Street, LLC for the 20-unit residential walkup building (C5) at 233 East 82nd Street in Yorkville, Manhattan. The expected use is cash flowing.
The deal closed on April 22, 2025 and was recorded on April 28, 2025. The property has 11,080 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $489 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 seller bought the property on March 27, 2015, for $8.9 million. The signatory for Kushner Companies was Jeffrey Pisano . The signatory for Mehran Dayanzadeh was Mehran Dayanzadeh. The contract date was February 21, 2025.

Bloomberg reported in 2017 that Kushner Companies owned various New York City multifamily portfolios in partnership with C-III Capital Partners, and others, depending on the deal.

A Rosewood Realty Group team of Aaron Jungreis, Ben Khakshoor and Alex Fuchs brokered this transaction.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Mehran Dayanzadeh had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Kushner Companies purchased two properties in two transactions for a total of $39.8 million and sold 24 properties in 15 transactions for a total of $224.3 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Tara Dexter, head officer and Jose Rivera, site manager. The business entity is Kc3- 233 East 82nd Street Llc. The 11,080-square-foot property generated revenue of $622,872 or $56 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 20 residential units in Yorkville has 11,080 square feet of built space 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 2,596 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 $3 million. The property has 7 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 22 housing violations and $2,790 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 16 of the 31 commercial properties representing 380,524 square feet of the 559,982 square feet. The largest owner is Naftali Group, followed by Torkian Group and then Croman Real Estate.
On the tax block, there were two new building construction projects totaling 329,850 square feet. The largest is a 86-unit, 208,881 square-foot residential (R-2) building submitted by Naftali Group and filed by Michael Witek with plans filed May 28, 2019 and permitted December 27, 2019. The second largest is a 106-unit, 120,969 square-foot residential (R-2) building submitted by Torkian Group and filed by Annie Xiao with plans filed July 16, 2021 and permitted April 12, 2022.

The majority, or 57 percent of the 559,982 square feet of built space are elevator buildings, with walkup buildings next occupying 36 percent of the space.

The seller

The PincusCo database currently indicates that Kushner Companies owned at least 33 commercial properties with 594 residential units in New York City with 501,287 square feet and a city-determined market value of $175.3 million. (Market value is typically about 50% of actual value.) The portfolio has $446.2 million in debt, with top three lenders as AIG, MSC 2019-L3, and Argentic Investment Management respectively. Within the portfolio, the bulk, or 58 percent of the 501,287 square feet of built space are walkup properties, with office properties next occupying 19 percent of the space. The bulk, or 72 percent of the built space, is in Manhattan, with Brooklyn next at 28 percent of the space.

The buyer

The PincusCo database currently indicates that Mehran Dayanzadeh owned at least three commercial properties with 32 residential units in New York City with 16,384 square feet and a city-determined market value of $3.7 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. The bulk, or 51 percent of the built space, is in Manhattan, with Queens next at 49 percent of the space.

Direct link to Acris document. link