Mysterious entity pays $28M to Townhouse Management for triple townhouse in Lenox Hill

The entity MI 8787 LLC, with unknown ownership, paid $28 million to Townhouse Management Company through the entity 39-37-35 East 63rd Residential LLC for the seven-unit rental condominium unit at a 35 East 63rd Street in Lenox Hill, Manhattan.

It’s unclear if the buyer intends to occupy the property or rent it as a multifamily asset.
The deal closed on March 12, 2026 and was recorded on March 20, 2026. The property has 22,591 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,239 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 Townhouse Management Company was Mitchel Maidman . The signatory for MI 8787 LLC was Ilyse Dolgenas . The contract date was May 19, 2025.

The buyer entity also sold 40 Palm Avenue in Palm Island, Miami Beach, Florida, in early 2025 For $45 million, and more recently in January 2026 purchased a $21 million penthouse condo unit at 505 West 19th Street, in Chelsea.

The brokerage Leslie J. Garfield & Co. was marketing the property, and described it this way: “35-37-39 East 63rd is a 61-foot-wide mega-mansion carved into 7 ultra-luxury residential rental apartments. The property is one of Manhattan’s premier doorman buildings on the Upper East Side. Spanning 17,264 rentable square feet this meticulous residence is just one block from Central Park in one of the city’s most exclusive enclaves. Rarely available is a building of this caliber, with 61 feet of frontage, in such an esteemed neighborhood. All of the units feature a great room with a wood-burning fireplace. The townhouse comes with two elevators and a 24-hour doorman and concierge. Click ‘brochure’ to view the complete offering memorandum.”

Prior sales, articles and revenue

The seller Townhouse Management Company had not purchased any other properties and sold two properties in two transactions for a total of $6.5 million over the same time period.

The property

The rental condo with 8 residential units in Lenox Hill has 22,591 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 22,591 square feet. The city-designated market value for the property in 2022 is $19.3 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

For the tax lot building, it received its initial certificate of occupancy on August 3, 2012. 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 10 of the 30 commercial properties representing 85,732 square feet of the 263,752 square feet. The largest owner is Leslie J. Garfield, followed by Graff International and then Graff.
There are no active new building construction projects on this tax block.

The majority, or 30 percent of the 263,752 square feet of built space are elevator buildings, with mixed-use buildings next occupying 30 percent of the space.

The seller

The PincusCo database currently indicates that Townhouse Management Company owned at least two commercial properties with 25 residential units in New York City with 11,070 square feet and a city-determined market value of $5.4 million. (Market value is typically about 50% of actual value.) The portfolio has $170.6 million in debt, with top three lenders as FS Investments, Rialto Capital Advisors, and White Oak Financial respectively. Within the portfolio, the bulk, or 88 percent of the 11,070 square feet of built space are walkup properties, with mixed-use properties next occupying 12 percent of the space. They are all located in Manhattan.

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