Zargaris pay $8.4M for 8-unit walkup on Third Avenue in Lenox Hill

The Zargari family through the entity 1330 Third Ave BH LLC paid $8.4 million to JPB Enterprises through the entity 1330 3rd Ave. Corp. for the eight-unit residential walkup building (C7) at 1330 Third Avenue in Lenox Hill, Manhattan. The expected use is cash flowing.
The deal closed on February 26, 2026 and was recorded on March 9, 2026. The property has 7,312 square feet of built space and 7,315 square feet of additional air rights for a total buildable of 14,630 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,151 and the price per buildable square foot is $575 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 JPB Enterprises was Steven M. Bari . The signatories for Babak Zargari and Minoo Zargari were Babak Zargari and Minoo Zargari. The contract date was August 7, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Babak Zargari had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller JPB Enterprises purchased one property in one transaction for a total of $7.3 million and sold one property in one transaction for a total of $8.8 million over the same time period. The former owner according to the Department of Housing Preservation and Development is Steven Bari, head officer. The business entity is 1330 Third Avenue Corp.

The property

The residential walkup building with 8 residential units in Lenox Hill has 7,312 square feet of built space and 7,315 square feet of additional air rights for a total buildable of 14,630 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 57 feet deep with a total lot size of 1,463 square feet. The zoning is C1-9 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $6.1 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 received $50 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on September 7, 2012. 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 two of the six commercial properties representing 799,447 square feet of the 828,396 square feet. The two identified owners are Northwell Health and Manocherian Brothers.
There are no active new building construction projects on this tax block.

The majority, or 94 percent of the 828,396 square feet of built space are specialty buildings, with elevator buildings next occupying 3 percent of the space.

The seller

The PincusCo database currently indicates that Jpb Enterprises owned at least one commercial property with nine residential units in New York City with 8,450 square feet and a city-determined market value of $8.2 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Manhattan.

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