Pivot Real Estate Partners pays $3.4M to EJS Group for retail in Lenox Hill

Pivot Real Estate Partners through the entity Pivot 1305 Third Avenue LLC paid $3.4 million to EJS Group through the entity Ejs 1303 Third, LLC for the retail condominium unit at 200 East 75th Street in Lenox Hill, Manhattan. The expected use is cash flowing.
The deal closed on March 31, 2026 and was recorded on April 7, 2026. The property has 1,242 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $2,697 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 EJS Group was Theodore Segal and Lori Ostrover. The signatory for Pivot Real Estate Partners was Benjamin Shapiro . The contract date was October 9, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Pivot Real Estate Partners had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller EJS Group purchased two properties in one transaction for a total of $32.5 million and had not sold any properties over the same time period.

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

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 26 commercial properties representing 114,673 square feet of the 207,883 square feet. The largest owner is Premier Equities, followed by Elad Group and then Reda Holdings.
On the tax block, there were two new building construction projects totaling 209,439 square feet. The largest is a 47-unit, 111,870 square-foot residential (R-2) building submitted by Elad Group and filed by Sara Rubenstein with plans filed March 7, 2018 and permitted January 29, 2024. The second largest is a 38-unit, 97,569 square-foot residential (R-2) building submitted by Theodore Segal and filed by Bill Shaughnessy with plans filed May 9, 2022 and permitted February 2, 2023.

The majority, or 51 percent of the 207,883 square feet of built space are walkup buildings, with elevator buildings next occupying 38 percent of the space.

The seller

The PincusCo database currently indicates that Ejs Group owned at least six commercial properties with 288 residential units in New York City with 16,000 square feet and a city-determined market value of $15.3 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 63 percent of the 16,000 square feet of built space are retail properties, with walkup properties next occupying 38 percent of the space. They are all located in Manhattan.

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