Cornerstone Group pays $15M for 109-unit rental in Forest Hills

UPDATED 10:35 a.m., January 26, 2026: Cornerstone Group through the entity Yellowstone 6770 LLC paid $15 million to the entity 67-70 Realty Co., LLC for the 109-unit residential elevator building (D1) at 67-70 Yellowstone Boulevard in Forest Hills, Queens. The expected use is cash flowing.
The deal closed on January 21, 2026 and was recorded on January 23, 2026. The property has 118,800 square feet of built space and 3,922 square feet of additional air rights for a total buildable of 122,677 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $126 and the price per buildable square foot is $122 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 Susan Jane Miller and was Susan Jane Miller. The signatory for the Cornerstone Group was Moses Eckstein . The contract date was October 30, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Moses Eckstein purchased one property in one transaction for a total of $11.2 million and has no record it sold any properties over the past 24 months.
The seller Susan Jane Miller had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Jay Gruen, head officer. The business entity is 67-70 Realty Co Llc. The 118,800-square-foot property generated revenue of $2.3 million or $19 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 109 residential units in Forest Hills has 118,800 square feet of built space and 3,922 square feet of additional air rights for a total buildable of 122,677 square feet according to a PincusCo analysis of city data. The parcel has frontage of 200 feet and is 219 feet deep with a total lot size of 35,662 square feet. The lot is irregular. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $7.6 million. The property has 98 rent regulated units according to city tax records from 2024.

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 nine housing 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 two of the four commercial properties representing 188,800 square feet of the 210,343 square feet. The two identified owners are Susan Jane Miller and Prescott Lester.
There are no active new building construction projects on this tax block.

The majority, or 90 percent of the 210,343 square feet of built space are elevator buildings, with retail buildings next occupying 10 percent of the space.

The seller

The PincusCo database currently indicates that Robert Miller owned at least three commercial properties with 128 residential units in New York City with 125,718 square feet and a city-determined market value of $12.8 million. (Market value is typically about 50% of actual value.) The portfolio has $13.5 million in debt, borrowed from JPMorgan Chase. Within the portfolio, the bulk, or 95 percent of the 125,718 square feet of built space are elevator properties, with walkup properties next occupying 5 percent of the space. The bulk, or 95 percent of the built space, is in Manhattan, with Queens next at 5 percent of the space.
The PincusCo database currently indicates that Susan Jane Miller owned at least one commercial property with 109 residential units in New York City with 118,800 square feet and a city-determined market value of $9.1 million. (Market value is typically about 50% of actual value.) The portfolio has $8.9 million in debt, borrowed from JPMorgan Chase. The portfolio consists of at least a single elevator property. It is located in Queens.

The buyer

The PincusCo database currently indicates that Moses Eckstein owned at least eight commercial properties with 429 residential units in New York City with 452,257 square feet and a city-determined market value of $17.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 99 percent of the 452,257 square feet of built space are elevator properties, with walkup properties next occupying 1 percent of the space. The bulk, or 86 percent of the built space, is in Brooklyn, with Queens next at 14 percent of the space.

CORRECTION: A prior version of this post identified the seller as an individual, while in fact it is a company, The Cornerstone Group.

Direct link to Acris document. link