Zucker’s Manhattan Skyline Management signs $24.5M refi for 145-unit rental in Kips Bay

The Zucker family’s Manhattan Skyline Management through the entity The Habitat II Company LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $24.5 million for the 145-unit residential elevator building (D6) at 154 East 29th Street in Kips Bay, Manhattan.
The deal closed on January 13, 2026 and was recorded on January 16, 2026. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $19 million.The property has 137,628 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $178 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 owner bought the property on January 28, 2020, for $11 million. The signatory for Manhattan Skyline Management was Daniel Lederman . The signatory for JPMorgan Chase was Erik Bertin .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Donald Zucker, head officer and Albert Berkowitz, officer. The business entities are Manhattan Skyline Management and The Habitat Ii Company. The 137,628-square-foot property generated revenue of $6.4 million or $47 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 145 residential units in Kips Bay has 137,628 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 100 feet deep with a total lot size of 9,900 square feet. The zoning is C2-8 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 $28.9 million. The property has 4 rent regulated units according to city tax records from 2024.

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 $3,080 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on June 18, 2015. 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 19 of the 27 commercial properties representing 419,251 square feet of the 463,378 square feet. The largest owner is Elad Group, followed by Zucker Organization and then Spectra Construction And Development.
On the tax block, there were four new building construction projects totaling 141,376 square feet. The largest is a 43-unit, 38,405 square-foot residential (R-2) building submitted by Spectra Construction and Development and filed by Daniel Klaynberg with plans filed July 21, 2025 and it has not been permitted yet. The second largest is a six-unit, 37,911 square-foot hotel/dormitory/shelter (R-1) building submitted by Skyland Management and filed by Daniel Dabakaroff with plans filed July 10, 2018 and it has not been permitted yet.

The majority, or 37 percent of the 463,378 square feet of built space are elevator buildings, with office buildings next occupying 35 percent of the space.

Direct link to Acris document. link