Sackman Enterprises signs $10.69M refi with Chase for four walkups in Manhattan

Sackman Enterprises through the entity Marsac Realty, LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $10.69 million for four residential walkup properties with 35 residential units including the 10-unit residential walkup building (C7) at 203 West 84th Street in Upper West Side, Manhattan, eight-unit residential walkup building (C7) at 730 10th Avenue in Hell’s Kitchen, Manhattan, and nine-unit residential walkup building (C7) at 732 10th Avenue in Hell’s Kitchen, Manhattan.
The deal closed on April 30, 2026 and was recorded on June 2, 2026. The prior lender was JPMorgan Chase which in 2015 provided debt that had an original loan amount of $10.69 million.The four properties have 25,091 square feet of built space and 11,657 square feet of additional air rights for a total buildable of 36,439 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $426 and the price per buildable square foot is $293 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 Sackman Enterprises was Carter F. Sackman Sr. . The signatory for JPMorgan Chase was Ursula Flores .

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 203 West 84th Street.

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Carter Sackman, head officer and Allyson Nick, officer. The business entities are Sackman Enterprises Inc and Marsac Realty Co. Out of the four properties, one with a total of 25,091 square feet of built space generated revenue of $467,558 per year.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received one DOB violation, five housing violations, and $750 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 the tax block of 203 West 84th Street, PincusCo has identified the owners of 10 of the 12 commercial properties representing 320,459 square feet of the 477,624 square feet. The largest owner is Naftali Group, followed by Benchmark Real Estate Group and then Brusco Group.
On the tax block, there were two new building construction projects totaling 262,874 square feet. The largest is a 45-unit, 154,598 square-foot residential (R-2) building submitted by Naftali Group and filed by Michael Witek with plans filed May 12, 2022 and permitted December 28, 2023. The second largest is a 162-unit, 108,276 square-foot institutional (I-2) building submitted by Hines and filed by Sarah Hawkins with plans filed April 22, 2019 and permitted January 15, 2021.

The majority, or 75 percent of the 477,624 square feet of built space are elevator buildings, with walkup buildings next occupying 25 percent of the space.

The borrower

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 $367.4 million. The portfolio has $129.4 million in debt, with top three lenders as First Republic Bank, JPMorgan Chase, and Citibank 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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