Sackman Enterprises signs $36.5M refi with Berkadia for four walkups in East Village
Sackman Enterprises through the entity E & S Realty De LLC as borrower signed a refi loan with lender Berkadia Commercial Mortgage valued at $36.5 million for four walkup properties with 96 residential units in the East Village of Manhattan, including the 26-unit walkup (C4) at 231 East 13th Street, the 24-unit walkup (C4) at 239 East 13th Street, and the 23-unit walkup (C4) at 235 East 13th Street.
The deal closed on May 22, 2026 and was recorded on June 15, 2026. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $25 million. The four properties have 59,646 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $611 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 Alan Sackman . The signatory for Berkadia Commercial Mortgage was Megan Mather .
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 231 East 13th Street.
Prior sales, articles and revenue
The owners according to the Department of Housing Preservation and Development includes Alan Sackman, head officer and Barbara Sackman, officer. The business entities are Sackman Enterprises and E And S Realty Co Llc. The four properties with a total of 59,646 square feet of built space generated revenue of $4.1 million per year or $69 per square foot.
The property
The residential walkup building with 26 residential units in East Village has has frontage of 40 feet and is 103 feet deep with a total lot size of 4,130 square feet. The zoning is C1-6A which allows for up to 2 times floor area ratio (FAR) for commercial and up to 4 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $5.7 million.
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 $150 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 231 East 13th Street, PincusCo has identified the owners of 17 of the 20 commercial properties representing 291,955 square feet of the 315,708 square feet. The largest owner is Sackman Enterprises, followed by Stellar Management and then Murray Miller.
There are no active new building construction projects on this tax block.
The majority, or 61 percent of the 315,708 square feet of built space are walkup buildings, with elevator buildings next occupying 30 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 $140.1 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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