Hubb NYC Buys Lenox Hill Residential Building From Parkoff for $34M

Hubb NYC Properties has acquired a residential building in Lenox Hill for $34 million, according to city records made public Thursday.

Hubb, through the entity 345 E 64th St, bought the property at 345 East 64th Street from the Parkoff Organization, which used the entity Plum 64 Assets, records show.

John McCarthy, CEO of Hubb, signed for the buyer, while Adam Parkoff, principal at Parkoff, signed for the seller, according to records.

The deal was an off-market transaction, according to Jesse Terry, Hubb’s chief investment officer. Hubb intends to maintain and operate the building “for the long term,” Terry said.

A spokesperson for Parkoff could not be reached for comment.

The 12-story, 60-unit apartment building between First and Second avenues also seems to be home to business management consulting firm Exita. It’s unclear what Hubb’s plans are for the property.

The news of the deal comes after a period of controversy for Parkoff, which owns roughly 4,000 apartments around the city.

In August, the Fair Housing Justice Center filed a lawsuit against Parkoff and claimed the landlord had prevented low-income renters from taking its apartments by lying to them, the New York Post reported.

The lawsuit claims Parkoff instead offered unlisted units to wealthy applicants and even reduced rents for those well-heeled tenants, according to the Post.

“There is no valid or even rational reason for landlords and brokers to discriminate against people who use housing vouchers,” Elizabeth Grossman, executive director at the Fair Housing Justice Center, told the Post at the time.

And it’s not the first time Parkoff has faced similar legal trouble, as it was hit with two other discrimination lawsuits in 1991 and 2016, the Post reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.