Sackman Enterprises, John Pearson pay $2.1M for 5-unit walkup in Harlem

Sackman Enterprises and John Pearson through the entity Grace Church Community Redevelopment LLC paid $2.1 million to Grace Congregational Church of Harlem through the entity Grace Congregational Church Of Harlem, Inc. for the five-unit residential walkup building (C2) at 314 West 139th Street in Harlem, Manhattan. The expected use is cash flowing.
The deal closed on June 12, 2026 and was recorded on June 23, 2026. The property has 4,280 square feet of built space and 1,906 square feet of additional air rights for a total buildable of 6,188 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $490 and the price per buildable square foot is $339 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 Grace Congregational Church of Harlem was Nigel Pearce. The signatory for Sackman Enterprises and John Pearson was Alan Sackman . The contract date was January 17, 2020. John Pearson owns have and Sackman owns half. Crain’s reported previously on the transaction.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Sackman Enterprises had purchased any other properties and sold one property in one transaction for a total of $4.8 million over the past 24 months.
The seller Grace Congregational Church of Harlem 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 Barbara Fennell, head officer and Alfrae Johnson-Ragins, officer. The business entity is 314 West 139th Street Management Corporation. The 4,280-square-foot property generated revenue of $80,378 or $19 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 5 residential units in Harlem has 4,280 square feet of built space and 1,906 square feet of additional air rights for a total buildable of 6,188 square feet according to a PincusCo analysis of city data. The parcel has frontage of 18 feet and is 99 feet deep with a total lot size of 1,799 square feet. The zoning is R7-2 which allows for up to 3.44 times floor area ratio (FAR) for residential. The property is in the Dorrance Brooks Square Historic District. The city-designated market value for the property in 2022 is $704,400.

Violations and lawsuits

The property was involved in one lawsuit and zero bankruptcies over the past two years. The suit was a $7.5 million judgment concerning a leave to sell filed on November 26, 2025, by Grace Congregational Church of Harlem against Sackman Enterprises. In addition, according to city public data, the property has received one DOB violation and one housing litigation 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 four of the 16 commercial properties representing 13,548 square feet of the 125,567 square feet. The largest owner is Friedman Management , followed by Frank Hernandez and then NY Residential Works .
On the tax block, there was one new building construction project filed totaling 34,036 square feet. It is a 35-unit, 34,036 square-foot residential (R-2) building submitted by Nigel Pearce with plans filed November 27, 2019 and it has not been permitted yet.

The majority, or 86 percent of the 125,567 square feet of built space are walkup buildings, with elevator buildings next occupying 12 percent of the space.

The buyer

The PincusCo database currently indicates that Sackman Enterprises owned at least 45 commercial properties with 681 residential units in New York City with 580,730 square feet and a PincusCo-determined asset value of $368.3 million. The portfolio has $176.5 million in debt, with top three lenders as First Republic Bank , Berkadia Commercial Mortgage , and JPMorgan Chase respectively. Within the portfolio, the bulk, or 48 percent of the 580,730 square feet of built space are walkup properties, with elevator properties next occupying 36 percent of the space.

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