SMA Equities files demos in Yorkville, plans 86-unit tower on site owned nearly 20 years
207 East 84th Street, 1495-1497 Third Avenue (Credit - Cyclomedia)
Samy Mahfar, CEO of SMA Equities, submitted plans to demolish three adjacent buildings, 207 East 84th Street, 1495 Third Avenue and 1497 Third Avenue, in preparation for a 37-story, 86-unit residential apartment building with the address 207 East 84th Street. Mahfar has owned the largest of these buildings, 207 East 84th Street, since buying it for $33.75 million 2007.
The plans to demolish the 29,227-square-foot 207 East 84th Street (job number M01331393), and the 10,946-square-foot 1495 Third Avenue (job number M01331450), were dated January 15, 2026. The plan to demolish 1497 Third Avenue, job number M01331456, was dated December 9, 2025.
These demolition plans are to clear the way for the project SMA Equities submitted for an 86-unit, 259,202 square-foot residential (R-2) building at 207 East 84 Street in Yorkville, Manhattan, as Yimby reported earlier this month. The plan was filed with the New York City Department of Buildings on December 29, 2025 under job number M01325392. It calls for the construction of a 37-story building. The project is described in the filing as: new building. The architect is Hill West Architects.
SMA Equities acquired the final piece of the assemblage, 1497 Third Avenue, as PincusCo exclusively reported in January 2025, for $12.5 million from members of the Kalimian family.
The property
The existing office building in Yorkville set for demolition, has 29,227 square feet of built space and 48,871 square feet of additional air rights for a total buildable of 78,070 square feet according to a PincusCo analysis of city data. The parcel has frontage of 51 feet and is 127 feet deep with a total lot size of 7,807 square feet. The lot is irregular. The zoning is C1-9 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $16.7 million. The most recent loan totaled $34.3 million and was provided by Safra National Bank on September 7, 2021.
Prior sales, articles and revenue
The 29,227-square-foot property generated revenue of $2.2 million or $74 per square foot, according to the most recent income and expense figures.
Development
Samy Mahfar, CEO of SMA Equities submitted a new building construction project for a 86-unit, 259,202 square-foot residential (R-2) building at 207 East 84th Street. The plan was filed on December 29, 2025. It calls for the construction of a 510-foot tall, 37-story building and was filed with the New York City Department of Buildings under job number M01325392. The architect is Hill West Architects. The project is described in the filing as: new building.
207 East 84th Street
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | floor | comment | description | persons_permitted | occupancy_label | zoning_use | dwelling_units |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | acris | 01/26/2026 06:09 AM | acris | 01/26/2026 06:09 AM | Sub-Cellar - 1 | ATTENDANT PARKING FOR 29 CARS | Parking Garage | N/A | Storage | ||
| 2 | acris | 01/26/2026 06:09 AM | acris | 01/26/2026 06:09 AM | Sub-Cellar - 1 | FEMALE LOCKER ROOM, MALE LOCKER ROOM, STAFF ROOM, RESIDENT STORAGE, SUPER'S WORKSHOP, STORAGE ROOM | Storage of non combustible Materials | 15 | Storage | ||
| 3 | acris | 01/26/2026 06:09 AM | acris | 01/26/2026 06:09 AM | Sub-Cellar - 1 | CAR ELEVATOR CONTROL ROOM, TRASH COMPACTOR ROOM, ELECTRIC BOILER ROOM, EJECTOR PIT, MECHANICAL ROOM, STORM DETENTION PUMP ROOM, DETENTION TANK | Mechanical and/or electrical equipment room | N/A | Factory and Industrial | ||
| 4 | acris | 01/26/2026 06:09 AM | acris | 01/26/2026 06:09 AM | Cellar | BIKE STORAGE ROOM | Storage of non combustible Materials | N/A | Storage | ||
| 5 | acris | 01/26/2026 06:09 AM | acris | 01/26/2026 06:09 AM | Cellar | ATS ROOM, ELECTRICAL ROOM, EMR B1, FA & ARCS CLOSET, FIRE PUMP ROOM, GAS METER ROOM, PLUMBING ROOM, SEWER ROOM, TELECOM ROOM | Mechanical and/or electrical equipment room | N/A | Factory and Industrial | ||
| 6 | acris | 01/26/2026 06:09 AM | acris | 01/26/2026 06:09 AM | Cellar | ATTENDANT PARKING FOR 1 CAR | Parking Garage | N/A | Storage | ||
| 7 | acris | 01/26/2026 06:09 AM | acris | 01/26/2026 06:09 AM | Cellar | RETAIL STORAGE ROOM | Storage of non combustible Materials | N/A | Storage | ||
| 8 | acris | 01/26/2026 06:09 AM | acris | 01/26/2026 06:09 AM | Cellar | RESIDENTIAL TENANT LAUNDRY, PET WASH, AND AMENITY ROOM | Apartment | 37 | Residential | ||
| 9 | acris | 01/26/2026 06:09 AM | acris | 01/26/2026 06:09 AM | 1 | RETAIL | Retail Sale | 55 | Mercantile | ||
| 10 | acris | 01/26/2026 06:09 AM | acris | 01/26/2026 06:09 AM | 1 | MAIL ROOM, PACKAGE ROOM, BOH DESK | Storage of non combustible Materials | N/A | Storage |
Violations and lawsuits
According to city public data, the property has received one DOB violation and $1,450 in OATH penalties in the last year.
There were no lawsuits or bankruptcies filed against the property for the past 24 months.
The neighborhood
In Yorkville, The majority, or 61 percent of the 26.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 28 percent of the space. In sales, Yorkville has near average sales volume among other neighborhoods with $456.1 million in sales volume in the last two years and is the 24th highest in Manhattan. For development, Yorkville has near average amount of major developments among other neighborhoods and is the 17th highest in Manhattan. It had 2.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 9 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of 20 of the 38 commercial properties representing 304,634 square feet of the 490,850 square feet. The largest owner is Acuity Capital Partners, followed by Bldg Management and then Caiola Family. On the tax block, there was one new building construction project filed totaling 259,202 square feet. It is a 86-unit, 259,202 square-foot residential (R-2) building submitted by SMA Equities and filed by Samy Mahfar with plans filed December 29, 2025 and it has not been permitted yet.
The owner
The PincusCo database currently indicates that Sma Equities owned at least 20 commercial properties with 566 residential units in New York City with 589,821 square feet and a city-determined market value of $130.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 43 percent of the 589,821 square feet of built space are elevator properties, with D7 properties next occupying 19 percent of the space. The bulk, or 86 percent of the built space, is in Manhattan, with Queens next at 13 percent of the space.
The surrounding
Within a 400-foot radius of 1493 3 Avenue, PincusCo identified 11 commercial real estate items of interests occurred over the past 24 months. Of those 11 items, six were sales above $5 million totaling $53.4 million. The most recent of the six was Angela Maria Notaro-Motta which bought the 9,485-square-foot, 16-unit rental (C7) on 221 East 83rd Street for $6 million from Sandra M. Szamatolski and Audrey Samz on June 12, 2025. Of those 11 items, five were loans above $5 million totaling $102.6 million. The most recent of the five was Extell Development in which borrowed $21 million from M&T Bank secured by the 38,590-square-foot, 48-unit rental (D6) on 220 East 86th Street and two other properties on January 13, 2026.
Direct link to the property’s ACRIS page and link to DOB NOW portal.