Witnick, David Hematian pay $22.5M for three walkups in Upper West Side

Witnick Real Estate Partners and David Hematian through the entity 202-206 W 96th Owner LLC paid $22.5 million to Samuel Schreiber through the entity Henson’s 96th Corp. for the 20-unit residential walkup building (C7) at 206 West 96th Street in Upper West Side, Manhattan, 15-unit residential walkup building (C7) at 202 West 96th Street in Upper West Side, Manhattan, and 18-unit residential walkup building (C7) at 204 West 96th Street in Upper West Side, Manhattan. The expected use is cash flowing.
The deal closed on February 19, 2026 and was recorded on February 26, 2026. The three properties have 34,650 square feet of built space and 30,427 square feet of additional air rights for a total buildable of 65,078 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $649 and the price per buildable square foot is $345 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 Samuel Schreiber was Samuel Schreiber. The signatory for Witnick Real Estate Partners and David Hematian was Isaac Abraham and David Hematian. The contract date was October 29, 2025.

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 204 West 96th Street.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Witnick Real Estate Partners purchased 13 properties in eight transactions for a total of $99.6 million and sold one property in one transaction for a total of $18 million over the past 24 months.
The seller Samuel Schreiber purchased one property in one transaction for a total of $3.8 million and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Sam Schreiber, head officer and Wilfredo Lopez, site manager. The business entity is Hensons 96th Corp. The three properties with a total of 34,650 square feet of built space generated revenue of $1.7 million per year or $48 per square foot. The sale price per square foot was $649.

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 three housing violations and $660 in OATH penalties in the last year.

Development

For the tax lot buildings, two out of the three buildings received a initial certificate of occupancy in the last ten years. 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 204 West 96th Street, PincusCo has identified the owners of 13 of the 21 commercial properties representing 187,442 square feet of the 496,030 square feet. The largest owner is Time Equities, followed by Hubb Nyc and then Schreiber Properties.
On the tax block, there were two new building construction projects totaling 356,881 square feet. The largest is a 130-unit, 232,290 square-foot residential (R-2) building submitted by JVP Management and filed by John Illuzzi with plans filed January 27, 2020 and permitted June 8, 2020. The second largest is a 171-unit, 124,591 square-foot residential (R-2) building submitted by Fetner Properties and filed by Hal Fetner with plans filed March 16, 2021 and permitted June 16, 2022.

The majority, or 76 percent of the 496,030 square feet of built space are elevator buildings, with walkup buildings next occupying 19 percent of the space.

The seller

The PincusCo database currently indicates that Samuel Schreiber owned at least two commercial properties with 74 residential units in New York City with 61,565 square feet and a city-determined market value of $5.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Manhattan.

The buyer

The PincusCo database currently indicates that Witnick Real Estate Partners owned at least 41 commercial properties with 882 residential units in New York City with 681,282 square feet and a city-determined market value of $178.7 million. (Market value is typically about 50% of actual value.) The portfolio has $189.1 million in debt, with top three lenders as Arbor Realty Trust, Dime Community Bank, and Webster Bank respectively. Within the portfolio, the bulk, or 59 percent of the 681,282 square feet of built space are walkup properties, with elevator properties next occupying 41 percent of the space. The bulk, or 40 percent of the built space, is in Manhattan, with Brooklyn next at 40 percent of the space.

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