Tahari Capital pays $2.5M for mixed-use in Harlem

Tahari Capital through the entity 303 W 116 LLC paid $2.5 million to the entity 303 West 116 St. LLC for the four-unit mixed-use building (S4) at 303 West 116th Street in Harlem, Manhattan. The expected use is cash flowing.
The deal closed on March 25, 2026 and was recorded on April 20, 2026. The property has 6,590 square feet of built space and 1,473 square feet of additional air rights for a total buildable of 8,072 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $386 and the price per buildable square foot is $315 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 Theresa M. Matias and Antonia M. Matias was Bessie Hadjigeorghi. The signatory for Tahari Capital was Jeremey Tahari . The contract date was February 5, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Tahari Capital purchased two properties in two transactions for a total of $14.3 million and has no record it sold any properties over the past 24 months.
The seller Theresa M. Matias 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 Theresa Matias, individual owner and Leslie Gratz, agent. The 6,590-square-foot property generated revenue of $125,935 or $19 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 4 residential units in Harlem has 6,590 square feet of built space and 1,473 square feet of additional air rights for a total buildable of 8,072 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 100 feet deep with a total lot size of 2,018 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.3 million.

Transaction Participants

Erica D. Vitanza participated in the transaction on behalf of the buyer.

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 $3,250 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 neighborhood

In Harlem, The bulk, or 43 percent of the 81.1 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 30 percent of the space. In sales, Harlem has 2.4 times the average sales volume among other neighborhoods with $822.7 million in sales volume in the last two years and is the 14th highest in Manhattan. For development, Harlem has 2.6 times the average amount of major developments relative to other neighborhoods and is the 9th highest in Manhattan. It had 4.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of nine of the 21 commercial properties representing 78,677 square feet of the 239,368 square feet. The largest owner is Yuco Management, followed by Urban American Management and then Genesis Companies.
There are no active new building construction projects on this tax block.

The majority, or 49 percent of the 239,368 square feet of built space are walkup buildings, with elevator buildings next occupying 43 percent of the space.

The buyer

The PincusCo database currently indicates that Tahari Capital owned at least five commercial properties with 99 residential units in New York City with 79,447 square feet and a city-determined market value of $35.6 million. (Market value is typically about 50% of actual value.) The portfolio has $20.1 million in debt, with top three lenders as Esquire Bank, First Bank, and Flagstar Bank respectively. Within the portfolio, the bulk, or 51 percent of the 79,447 square feet of built space are walkup properties, with elevator properties next occupying 48 percent of the space.

Direct link to Acris document. link