Deals & development · 10/31/2026
Aurora Capital sells two Lexington Ave buildings for $16.9M
Deals recorded on 10/29/2026 were led by Aurora Capital Associates' $16.9 million sale of 714 and 720 Lexington Avenue, below the $22 million paid in 2007. Companies tied to Benjamin and Joshua Ohebshalom bought a 38-unit Lenox Hill building for $14 million. Trepp also reports that the share of CMBS debt in special servicing is the highest since the financial crisis.
Reported by The Real Deal · New YorkRead the original ↗
What happened
The Real Deal published a roundup on 10/31/2026 of the largest New York City property sales that entered public records on 10/29/2026. The top commercial deal was in Midtown East. Two four-story buildings at 714 and 720 Lexington Avenue sold for $16.9 million. The headline rounds this to $17 million.
The seller was Aurora Capital Associates. The buyers were 714 Lexington Ave Z LLC and 720 Lexington Ave Z LLC. The two buildings last sold in 2007 for $22 million, so this sale came in about $5.1 million lower.
Other deals in the roundup: In Lenox Hill, Alan Plotnik sold a 10-story, 38-apartment mixed-use building at 177 East 77th Street for $14 million to companies tied to Benjamin and Joshua Ohebshalom. Plotnik had owned it for decades. On the Upper West Side, a townhouse at 309 West 80th Street sold for $9 million. In Tribeca, a 2,200-square-foot condo at 30 Park Place sold for just under $5 million, about $2,300 per square foot.
The same digest cited a report from research firm Trepp. It said commercial mortgage-backed securities (CMBS) loans in special servicing are at their highest volume and share since the financial crisis. According to the digest, the share of CMBS debt entering special servicing has grown by about 8.9 percent so far this year, driven by large loans.
Key facts
- Address
- 714 and 720 Lexington Avenue, Midtown East
- Sale price
- $16.9 million (headline rounds to $17 million)
- Seller
- Aurora Capital Associates
- Buyers
- 714 Lexington Ave Z LLC and 720 Lexington Ave Z LLC
- Prior sale
- 2007, for $22 million
- Recorded
- 10/29/2026
- Rental building sale
- 177 East 77th Street, 38 apartments, 10 stories, sold for $14 million
- Source
- The Real Deal, published 10/31/2026
What it means
Buyers and owners
The Lexington Avenue buildings sold for less than their 2007 price. This is one data point showing that some Manhattan commercial property is trading below earlier values.
Landlords
The Trepp figures cited in the digest point to more commercial mortgage loans in distress. Owners with commercial debt may want to review their loan terms and refinancing timelines.
Tenants and voucher holders
Tenants at 177 East 77th Street have a new owner. The material does not say whether any of the 38 apartments are rent stabilized or who will manage the building.
The highlights
- Upper West Side townhouse at 309 West 80th Street sold for $9 million.
- Alan Plotnik sold 38-unit 177 East 77th Street in Lenox Hill for $14 million.
- Trepp: CMBS special servicing is at its highest level since the financial crisis.
Why it matters Landlords
These sales are price markers for Manhattan buildings, and rising CMBS distress points to strain in commercial property debt.
Not known yet
- Whether any apartments at 177 East 77th Street are rent stabilized
- Who the people behind the two Lexington Avenue buyer LLCs are
- What the buyers plan to do with the Lexington Avenue buildings
- Whether the commercial buildings have current tenants or open violations
Background
In New York City, property sales outside Staten Island are recorded with the Department of Finance and posted in its public ACRIS database. Roundups like this one draw from those records. Buyers often use single-purpose LLCs, which can make it hard to tell who controls a building. When a building is sold, a new owner generally takes it subject to the existing leases and any rent regulation that applies.
Buildings in this story
- 720 Lexington Avenue · building facts and open city records
Summary written by Bulwark from The Real Deal · New York’s reporting. The original story is at therealdeal.com. This is general information, not legal advice.
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