Sabet Group pays $2.7M to Kushner Companies for 14-unit walkup in East Village

Sabet Group through the entity 435 E 9 Tsg LLC paid $2.7 million to Kushner Companies through the entity 435 East 9th Street Realty LLC for the 14-unit residential walkup building (C7) at 435 East 9th Street in East Village, Manhattan. The expected use is cash flowing.
The deal closed on March 16, 2026 and was recorded on March 23, 2026. The property has 7,412 square feet of built space and 1,821 square feet of additional air rights for a total buildable of 9,224 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $361 and the price per buildable square foot is $290 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 seller bought the property on December 23, 2020, for $1.7 million. The signatory for Kushner Companies was Matthew Burrows . The signatory for Sabet Group was Leor Sabetfard . The contract date was December 16, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Sabet Group purchased 15 properties in 14 transactions for a total of $106.2 million and has no record it sold any properties over the past 24 months.
The seller Kushner Companies purchased two properties in two transactions for a total of $39.8 million and sold 13 properties in eight transactions for a total of $104 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Tara Dexter, head officer and Kevin Schreiber, head officer. The business entity is 435 East 9th Street Realty Llc. The 7,412-square-foot property generated revenue of $539,036 or $73 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 14 residential units in East Village has 7,412 square feet of built space and 1,821 square feet of additional air rights for a total buildable of 9,224 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 92 feet deep with a total lot size of 2,306 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $3 million. The property has 4 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 10 housing violations and $650 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 27 of the 37 commercial properties representing 234,106 square feet of the 346,552 square feet. The largest owner is Nuchem Obstfeld, followed by Icon Realty Management and then Scharfman Organization.
There are no active new building construction projects on this tax block.

The majority, or 69 percent of the 346,552 square feet of built space are walkup buildings, with specialty buildings next occupying 15 percent of the space.

The seller

The PincusCo database currently indicates that Kushner Companies owned at least 29 commercial properties with 514 residential units in New York City with 463,342 square feet and a city-determined market value of $164 million. (Market value is typically about 50% of actual value.) The portfolio has $502.8 million in debt, with top three lenders as AIG, MSC 2019-L3, and Argentic Investment Management respectively. Within the portfolio, the bulk, or 55 percent of the 463,342 square feet of built space are walkup properties, with office properties next occupying 20 percent of the space. The bulk, or 73 percent of the built space, is in Manhattan, with Brooklyn next at 27 percent of the space.

The buyer

The PincusCo database currently indicates that Sabet Group owned at least 56 commercial properties with 943 residential units in New York City with 808,252 square feet and a city-determined market value of $247 million. (Market value is typically about 50% of actual value.) The portfolio has $529.5 million in debt, with top three lenders as Signature Bank, Citibank, and Greystone & Co. respectively. Within the portfolio, the bulk, or 63 percent of the 808,252 square feet of built space are walkup properties, with hotel properties next occupying 17 percent of the space. They are all located in Manhattan.

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