Weiye Lin pays $7.5M to WealthWay Equity Group for office in Lenox Hill

Weiye Lin through the entity York Avenue Properties, LLC paid $7.5 million to WealthWay Equity Group through the entity 418 East 71st Street Associates, LLC for the office building (O7) at 418 East 71st Street in Lenox Hill, Manhattan. The expected use is cash flowing.
The deal closed on October 24, 2025 and was recorded on November 7, 2025. The property has 12,100 square feet of built space and 3,012 square feet of additional air rights for a total buildable of 15,110 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $619 and the price per buildable square foot is $496 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 August 18, 2011, for $5.2 million. The signatory for WealthWay Equity Group was Samuel Liebman . The signatory for Weiye Lin was Weiye Lin. The contract date was September 22, 2025. The building is listed on the WealthWay Equity Group website affiliated with Samuel Liebman.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Weiye Lin had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller WealthWay Equity Group had not purchased any other properties and had not sold any properties over the same time period. The 12,100-square-foot property generated revenue of $878,962 or $73 per square foot, according to the most recent income and expense figures.

The property

The office building in Lenox Hill has 12,100 square feet of built space and 3,012 square feet of additional air rights for a total buildable of 15,110 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,510 square feet. The zoning is R8 which allows for up to 6.02 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $5 million.

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 not received any significant violations 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 Lenox Hill, The bulk, or 34 percent of the 53.3 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 30 percent of the space. In sales, Lenox Hill has the highest sale turnover among other neighborhoods in the city with $4.4 billion in sales volume in the last two years. For development, Lenox Hill has 1.8 times the average amount of major developments relative to other neighborhoods and is the 15th highest in Manhattan. It had 2.6 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. There was one pre-foreclosure suit filed among other office buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of 11 of the 14 commercial properties representing 890,240 square feet of the 914,070 square feet. The largest owner is Newyork-Presbyterian, followed by Manocherian Brothers and then Howard Balaban.
There are no active new building construction projects on this tax block.

The majority, or 85 percent of the 914,070 square feet of built space are elevator buildings, with walkup buildings next occupying 12 percent of the space.

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