Vandelay, Aspire pay $3.025M to ARJE Capital for 8-unit walkup in East Harlem

Vandelay Partners, which shares executives with Aspire International Partners, through the entity Vandelay East Harlem 217 LLC paid $3.025 million to ARJE Capital through the entity ARJE 217 E115 LLC for the eight-unit residential walkup building (C1) at 217 East 115th Street in East Harlem, Manhattan. The expected use is cash flowing.
The deal closed on June 12, 2025 and was recorded on June 17, 2025. The property has 4,639 square feet of built space and 2,634 square feet of additional air rights for a total buildable of 7,268 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $652 and the price per buildable square foot is $416 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 seller bought the property on October 26, 2022, for $2.95 million. The signatory for ARJE Capital was Joshua Einhorn and Daniel Lifshitz . The signatory for Vandelay Partners and Aspire International Partners was Anthony Killough . The contract date was March 14, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Vandelay Partners had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller ARJE Capital had not purchased any other properties and had not sold any properties over the same time period.

The property

The residential walkup building with 8 residential units in East Harlem has 4,639 square feet of built space and 2,634 square feet of additional air rights for a total buildable of 7,268 square feet according to a PincusCo analysis of city data. The parcel has frontage of 18 feet and is 100 feet deep with a total lot size of 1,817 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 $722,000.

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 $1,470 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial renovation certificate of occupancy on October 5, 2022. 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 10 of the 38 commercial properties representing 132,809 square feet of the 273,951 square feet. The largest owner is Mack Real Estate Group, followed by Hope Community and then Helm Management.
There are no active new building construction projects on this tax block.

The majority, or 60 percent of the 273,951 square feet of built space are walkup buildings, with mixed-use buildings next occupying 29 percent of the space.

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