115 East 69th Street
This transaction represents a well-located single-tenant family office acquisition on the Upper East Side at $916/SF, which is modestly below the submarket's prevailing comparable range of $930–$1,486/SF, suggesting reasonable but not exceptional pricing for the asset class. The buyer, David Halberstam, brings a credible track record with $183M+ in prior volume, and the seller was represented by experienced Marcus & Millichap brokers with deep market presence. The single-tenant nature of the asset introduces concentration risk, and the absence of disclosed financing or cap rate data limits full underwriting visibility. Overall, the deal reflects a stable, low-distress acquisition in a liquid and high-barrier-to-entry submarket with strong long-term value preservation characteristics.
Deal Stats
Parties
Seller / Landlord
Landmark Management appears to be a private real estate management and ownership entity operating in the New York metro area, with a track record consistent with institutional-quality boutique asset disposition. No adverse public record or distress indicators are associated with this entity in available market data.
Buyer / Tenant
David Halberstam is an active NYC real estate investor with a tracked transaction volume of approximately $183.4M across 14 deals, demonstrating a consistent appetite for boutique office and specialty properties in prime Manhattan submarkets. His focus on Upper East Side single-tenant assets suggests a value-preservation and long-term hold strategy typical of private family office investors.
Score Analysis
Why this score
Buyer Track Record
David Halberstam's $183.4M transaction volume across 14 deals demonstrates proven expertise and capital availability in Manhattan boutique office acquisitions.
Pricing Relative to Comps
At $916/SF versus submarket comparables of $930–$1,486/SF, the deal price sits at the lower end of range, offering modest value capture.
Single-Tenant Concentration Risk
Single-tenant occupancy structure limits revenue diversification and increases tenant concentration vulnerability, reducing deal resilience.
Upper East Side Submarket Strength
Prime UES location in high-barrier-to-entry submarket with strong long-term value preservation and institutional investor demand.
Missing Underwriting Data
Absence of disclosed financing terms, cap rate, lease expiration, and tenant credit quality significantly limits deal analysis depth and confidence.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Disclose Cap Rate & Financing Terms
Publishing the implied cap rate, debt structure, and loan-to-value ratio would validate pricing assumptions and allow institutional investor comparison.
Tenant Profile & Lease Visibility
Revealing tenant credit quality, lease term remaining, and renewal probability would mitigate concentration risk perception and support stability narrative.
Building Systems & Capital Plan
Documenting HVAC, electrical, structural condition and near-term capex requirements would reduce hidden-liability risk and support value preservation thesis.
Raw Deal Textclick to expand
traded + Submit Growing Financial Partnerships For Over 30 Years. Get Started Home Deals New York Office Sale 115 East 69th Street Share SOLD David Halberstam Purchases Single-Tenant Family Office On Upper East Side For $9.15M $9,150,000 $916/SF BUILDING SIZE 9,981 SF ASSET TYPE CLOSING Jun 10, 2026 Overview Players Market Deal Summary Caption AI The asset involved in this transaction is a single-tenant family office located at 115 East 69th Street in the Upper East Side market. The property was sold for $9,150,000, encompassing a total area of 9,981 square feet, translating to a price per square foot of $916. Summary of transaction details: Property Type: Single-Tenant Family Office Transaction Amount: $9,150,000 Address: 115 East 69th Street Market: Upper East Side Square Footage: 9,981 Price Per Square Foot: $916 Buyer: David Halberstam Seller: Landmark Management Buyer's Representative: HPNY Seller's Representative: John J. Stewart & Dylan Torey - Marcus & Millichap This transaction involved key personnel, including buyer David Halberstam and seller Landmark Management, with representation provided by HPNY for the buyer and John J. Stewart alongside Dylan Torey from Marcus & Millichap representing the seller. PLAYERS All Brokers Buyers | Sellers John J. Stewart Marcus & Millichap BROKER $212.6M VOL 30 deals Contact Dylan Torey $77.7M 13 deals DH David Halberstam BUYER $183.4M 14 deals Upper East Side Office Market Snapshot Neighborhood boundary · Office · Sale transactions Full Market → Comps 10 Listings Investors Top Brokers Lenders Alexander Shustorovich's IMG Artists Acquires Office In Lenox Hill For $8.78M 7,349 SF · Aug 2022 New York, New York $8,778,375 $1,194/SF <0.1 mi Mark Mermel Acquires Office Property From Caspar Spescha In Lenox Hill For $10.5M 7,065 SF · Apr 2025 $10,500,000 $1,486/SF 0.1 mi Lydia Rosengarten, Jed Garfield & Thomas Wexler Of Leslie Garfield Broker Sale Of Office At 34 East 67th Street For $7.5M 8,022 SF · Jun 2025 $7,500,000 $934/SF 0.2 mi Weiye Lin Acquires Office Property At 418 East 71st Street From Samuel Liebman For $7.5M 12,100 SF · Oct 2025 $619/SF 0.5 mi Elliot Spitzer Of Spitzer Enterprises Acquires Office Condo From SK Corp For $10M In Midtown 22,861 SF · Aug 2025 $10,000,000 $437/SF Dr. Brian Chung Acquires Office On 311 E. 79th St. For $6.35M 5,494 SF · Jun 2022 $6,350,000 $1,155/SF 0.6 mi Alberto Smeke Saba Of CSC Real Estate Acquires Office Building From Peter F. Cervinka For $10M 102,917 SF · Feb 2026 $97/SF Charlie Tebele Acquires Office Building On 244 East 58th Street In Midtown East For $8.5M 7,900 SF · Jun 2019 $8,500,000 $1,075/SF Stephen Shinhak Kahng Acquires Office Buildings In Midtown Manhattan For $12M Represented By Newmark 27,678 SF · Feb 2025 $12,000,000 $433/SF 0.8 mi Dimitry Goncharov Acquires Office In Midtown East From Laboratory Institute Of Merchandising 18,934 SF · Jun 2024 $11,000,000 $581/SF Live MORE DEALS $8.8M $10.5M $7.5M $10M $6.3M $8.5M $12M $11M NEARBY MARKETS NEIGHBORHOODS Astoria Long Island City Central Old Astoria Midtown South West Clinton Midtown Lincoln Square Upper West Side Yorkville East Harlem South Central Harlem South Central Harlem North-Polo Grounds BOROUGHS Staten Island Bronx Queens Manhattan Brooklyn CITIES Paterson Hackensack Bayonne Paramus East Orange Hoboken Newark Clifton Jersey City West New York Linden Fort Lee STATES North Carolina Virginia West Virginia Michigan Massachusetts Pennsylvania Vermont South Carolina New Hampshire District of Columbia New Jersey We are telling CRE's story Traded is the #1 source for cutting-edge CRE transactions & insights. 1M+ DEALS 100K+ USERS 47 MARKETS 1.2M+ FOLLOWERS Browse Closings by State National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Minnesota Mississippi Missouri Montana Nebraska Nevada New Mexico North Dakota Ohio Oklahoma Oregon Rhode Island South Dakota Tennessee Texas Utah Washington Wisconsin Wyoming Search News Agents Agencies About About Us FAQ Testimonials Help Help Center Pricing Return Policy Follow a feed Nat @traded NY @tradedny MIA @tradedmiami LA @tradedla CHI @tradedchicago BOS @tradedboston DAL @tradeddallas NJ @tradednj 300K+ The Traded Weekly Every major deal & ranking update — Friday mornings. Email © 2026 Traded Media LLC · All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use