Young-Hee Lowe pays $8.5M to Mews Property for 12-unit rental in Grand Central

Young-Hee Lowe through the entity 130 East 37 Street LLC paid $8.5 million to Mews Property through the entity Whitehall Ennismore 37 LLC for the 12-unit residential elevator building (D3) at 130 East 37th Street in Grand Central, Manhattan. The expected use is cash flowing.
The deal closed on April 17, 2026 and was recorded on April 30, 2026. The property has 5,570 square feet of built space and 3,821 square feet of additional air rights for a total buildable of 9,390 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,526 and the price per buildable square foot is $905 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 February 11, 2021, for $3.4 million. The signatory for Mews Property was W. Alexander Budney . The signatory for Young-Hee Lowe was Young-Hee Lowe. The contract date was March 25, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Young-Hee Lowe had purchased any other properties and sold one property in one transaction for a total of $10.8 million over the past 24 months.
The seller Mews Property 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 Alexander Budney, head officer and Jack Fuchs, officer. The business entity is Whitehall Ennismore 37 Llc. The 5,570-square-foot property generated revenue of $460,903 or $83 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 12 residential units in Grand Central has 5,570 square feet of built space and 3,821 square feet of additional air rights for a total buildable of 9,390 square feet according to a PincusCo analysis of city data. The parcel has frontage of 19 feet and is 49 feet deep with a total lot size of 939 square feet. The zoning is R10 which allows for up to 10 times floor area ratio (FAR) for residential with inclusionary housing. The property is in the Murray Hill Historic District Extension. The city-designated market value for the property in 2022 is $1.8 million.

Transaction Participants

Michael L. Landsman at Falcon Rappaport & Berkman LLP 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 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 block

On this tax block, PincusCo has identified the owners of 13 of the 31 commercial properties representing 229,976 square feet of the 327,700 square feet. The largest owner is Stonehenge Nyc, followed by Solil Management and then Scharfman Organization.
There are no active new building construction projects on this tax block.

The majority, or 56 percent of the 327,700 square feet of built space are elevator buildings, with walkup buildings next occupying 22 percent of the space.

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