OC Properties pays $3M to Sisters of Charity for residential walkup in East Harlem

William J. O’Connor’s OC Properties paid $3 million to Sisters of Charity Housing Development Corporation for the 18-unit residential walkup building (C1) at 111 East 117th Street in East Harlem, Manhattan. The expected use is cash flowing.
The deal closed on February 18, 2026 and was recorded on March 6, 2026. The property has 9,600 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $312 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 Sisters of Charity Housing Development Corporation was Matthew Janeczko . The signatory for OC Properties was William J. O’Connor. The contract date was May 17, 2023.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer OC Properties had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Sisters of Charity Housing Development Corporation had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Matthew Janeczko, head officer and Vanessa Reilly, officer. The business entity is Msgr Robert Fox Memorial Shelter Hdfc. The 9,600-square-foot property generated revenue of $360,576 or $38 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 18 residential units in East Harlem has 9,600 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,523 square feet. The zoning is R7B which allows for up to 3 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.4 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 received one DOB violation and $680 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on December 27, 2013. 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 nine of the 19 commercial properties representing 134,169 square feet of the 217,789 square feet. The largest owner is Metropolitan Realty Group, followed by Frank Pecora and then Emerald Equity Group.
There are no active new building construction projects on this tax block.

The majority, or 45 percent of the 217,789 square feet of built space are walkup buildings, with elevator buildings next occupying 42 percent of the space.

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