Quinlan Development signs $10.3M refi with JLL for 51-unit rental in UWS

Quinlan Development Group through the entity 326 Columbus LLC as borrower signed a refi loan with lender JLL through the entity JLL Real Estate Capital LLC valued at $10.3 million for the 61-unit residential elevator building (D7) at 322-326 Columbus Avenue in Upper West Side, Manhattan.
The deal closed on February 19, 2026 and was recorded on February 25, 2026. The prior lender was Sun Life Assurance Company of Canada which held debt that had an original loan amount of $7 million. The property has 36,258 square feet of built space and 21,365 square feet of additional air rights for a total buildable of 57,588 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $284 and the price per buildable square foot is $178 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 Quinlan Development Group was Timothy C. Quinlan . The signatory for JLL was Steven D. Henderson .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Robert Quinlan, head officer and Lionel Goldfrank III, officer. The business entities are Walker Malloy & Co Inc and 326 Columbus Llc. The 36,258-square-foot property generated revenue of $2.4 million or $66 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 61 residential units in Upper West Side has 36,258 square feet of built space and 21,365 square feet of additional air rights for a total buildable of 57,588 square feet according to a PincusCo analysis of city data. The parcel has frontage of 76 feet and is 100 feet deep with a total lot size of 7,658 square feet. The lot is irregular. The zoning is C1-8A which allows for up to 2 times floor area ratio (FAR) for commercial and up to 7.52 times FAR for residential with inclusionary housing. The property is in the Upper West Side / Central Park West Historic District. The city-designated market value for the property in 2022 is $13.1 million. The property has 11 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 three housing violations and $525 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 37 of the 49 commercial properties representing 256,086 square feet of the 374,854 square feet. The largest owner is Brusco Group, followed by Enrico Porco and then Greystone & Co..
There are no active new building construction projects on this tax block.

The majority, or 82 percent of the 374,854 square feet of built space are walkup buildings, with elevator buildings next occupying 11 percent of the space.

The borrower

The PincusCo database currently indicates that Quinlan Development Group owned at least seven commercial properties with 483 residential units in New York City with 412,915 square feet and a city-determined market value of $103.1 million. (Market value is typically about 50% of actual value.) The portfolio has $354.4 million in debt, with top three lenders as PCCP, First-Citizens Bank & Trust Company, and QuadReal Property Group respectively. Within the portfolio, the bulk, or 56 percent of the 412,915 square feet of built space are office properties, with elevator properties next occupying 32 percent of the space. The bulk, or 94 percent of the built space, is in Brooklyn, with Manhattan next at 6 percent of the space.

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