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By: Brian Pascus

Janurary 24, 2024

SMA Equities, a New York City-based real estate firm, has secured a $70.63 million loan to refinance its recently completed 20-story apartment property in Manhattan’s Gramercy neighborhood, Commercial Observer has learned. 

Salman Khan

09 Feb 2024 =


Gemma Gramercy, a 20-story mixed-use property in Manhattan's Gramercy Park, has secured a $70.635 million Fannie Mae loan for refinancing, marking a first for Passive House certified properties. The building boasts 108 residential units, with 25% being affordable housing. This landmark deal highlights the increasing importance of energy-efficient design and sustainable development in real estate.


By: CityRealty Staff

February 16, 2023


Leasing has launched at Gemma Gramercy, a new 20-story rental at 200 East 23rd Street. Current availabilities start at $3,900/month for studios, $6,250/month for one-bedrooms, and $7,500/month for two-bedrooms. The prices come in above the Gramercy median rent (per CityRealty listings), but residents can expect significant savings on their utility bills: The building was constructed to Passive House standards, which reduces energy consumption as much as 85%.


Gemma Gramercy’s Façade Nears Completion At 202 East 23rd Street In Gramercy, Manhattan

By: Michael Young and Matt Pruznick 

January 21st, 2023

Façade installation is nearing completion on Gemma Gramercy, a 20-story residential building at 202 East 23rd Street in Gramercy Park, Manhattan. Designed by Hill West Architects and developed by SMA Equities, the 233-foot-tall structure will span 95,000 square feet and yield 108 rental units in studio to two-bedroom layouts with marketing by REAL New York. Twenty-eight of the apartments will be designated for affordable housing. KSK Construction Group is the general contractor for the project, which is located at the corner of East 23rd Street and Third Avenue on the border with Kips Bay. The property is being constructed to Passive House standards.

Manhattan Passive House Community Nears Completion

By: Raluca Toma

January 17th, 2023

Developer SMA Equities is approaching the completion of Gemma Gramercy, a 108-unit community located in Midtown Manhattan. Hill West Architects is the project’s designer. The development is slated for completion this spring, according to a spokesperson representing the architect of the project. The leasing activity at the property is being managed by Real NY.

Copy Of - Bank of the Ozarks Lends $40M on SMA Equities’ Lower East Side Development

December 20, 2017

SMA Equities has scored a $39.5 million construction loan from Bank of the Ozarks for its 88-unit apartment building at 255 East Houston Street in the Lower East Side, Commercial Observer has learned.

Stallone-backed boxing gym Rumble inks lease for entire UES building The fitness chain picked SMA Equities property for third Manhattan outpost

May 22, 2017

Rumble, the trendy boxing gym concept backed by investors such as “Rocky” star Sylvester Stallone and Justin Bieber, has inked a deal for its third Manhattan location.

The chain is leasing an entire five-story building owned by landlord Samy Mahfar at 1495 Third Avenue between East 84th and 85th streets, sources told The Real Deal. The 12,500-square-foot, 10-year deal is valued at about $1 million a year, sources added.

Boxing Gym Backed by Stallone, Bieber Opening Upper East Side Outpost

May 23, 2017

A boxing gym that counts Sylvester Stallone and Justin Bieber as investors is planning to open a location on Third Avenue by the end of the year, according to the company and reports. 

Rumble, which has a location in Chelsea and is planning another in NoHo this summer, just signed a lease for 1495 Third Ave., between East 84th and 85th streets, The Real Deal reported.

4heads Artist-run Non-Profit’s 10th Season Spring Benefit and Concert Fundraiser at 113 Stanton Street

March 14, 2017

NEW YORK – 4heads will mark its 10th anniversary as one of New York City’s leading artist-run 501(c (3), non-profit charitable organizations with a spring benefit concert and art auction, entitled “Year X of 4heads and GIAF,” on Wednesday, March 15, 2017 from 7 p.m. to 10 p.m. at 113 Stanton Street, between Ludlow and Essex Streets. The event space, donated by Samy Mahfar of SMA Equities, comprises approximately 3,500 square feet on two floors, including, including a 2,000-square-foot ground level open area.

Black Tap Cooks Up Fourth Location at 177 Ludlow Street

February 13, 2017

NEW YORK – Black Tap Craft Burgers & Beer (“Black Tap”) has signed a 10-year lease for its fourth location at SMA Equities’ 177 Ludlow Street, between Houston and Stanton Streets. Black Tap was long admired in food-lovers’ circles for Michelin star-awarded chef Joe Isidori’s burgers, and it experienced a meteoric rise in popularity when its Crazy Shakes went viral on social media.

SMA Equities Spreads Holiday Cheer to LES Community and Beyond

December 23, 2016

NEW YORK – In the spirit of the Christmas and Chanukah holiday season, SMA Equities is spreading joy by donating funds, services, and goods to various groups serving the community on the Lower East Side of New York City.  Planned charitable programs for 2017 include participating in local food pantries, working with senior housing groups, and continuing the pop-up art gallery programs in commercial spaces available in SMA Equities-owned properties.

Clicks to Bricks: Online Athletic Apparel Line Opens Debut Store

December 16, 2016

NEW YORK – SMA Equities has arranged a knockout lease for Roots of Fight’s first brick-and-mortar location. The brand is known for its celebration of boxing and martial arts achievements through apparel. The popular online brand can now be found at 130 Allen Street around the block from the East Coast MMA Fight Shop at 131 Orchard Street, sharing a contiguous wall.

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