102 Norfolk Street Lower East Side New York

A paradigm of historic grace, 102 Norfolk Street was acquired by Samy Mahfar for SMA Equities in 2014. From the moment he took possession of the five-story former tenement, Mahfar embarked upon an ambitious restoration program that transformed the best features into 21st century living! Today, the 25 apartments have new electrical wiring and plumbing. The renovated units have kitchens with fancy appliances, European-style cabinets, stone counters and dishwashers. Bathrooms have Caesarstone counters and marble walls. The floors throughout these spacious apartments are composed of light-stained oak. Each of these apartments also includes a washer and dryer and free wi-fi. 

22 Spring Street Lower East Side New York

With five stories and 16 residential units, 22 Spring Street, owned by SMA Equities Principal Samy Mahfar, is a testament to the Lower East Side’s grand history. Officially located in the Nolita submarket, it is close to popular restaurants, such as Balthazar and Elizabeth Street Garden, and great public transportation. In addition, 22 Spring Street has two commercial tenants, comprising framing store Paint Box and jeweler ClayPot Nolita. Halls and entry have been beautifully restored, and a video intercom system makes it safer. Samy Mahfar also upgraded electrical, and plumbing systems throughout the building and several apartments are stylishly renovated. 

255 East Houston Street Lower East Side

There is an exciting development project going up at 255 East Houston Street, which is being spearheaded by veteran developer Samy Mahfar of SMA Equities. An out-of-ground project, designed by architect Stephen Jacobs, original plans call for 13 stories and 88 units. In addition, it is anticipated that there will be approximately 4,600 square feet of prime retail on the street level of the building.

Located between Norfolk and Suffolk Streets, this building is in the heart of one of Manhattan’s trendiest neighborhoods, i.e., the Lower East Side, and very convenient to public transportation. It is also part of a HUD program and designated as an 80/20 building, which means at least 20 percent of the beautiful studio, one-, two- and three-bedroom apartments will have affordable rents, based upon the Average Median Income (A.M.I.) of the immediate area. The balance of the apartments will be rented for market rates, also consistent with the neighborhood.

Samy Mahfar’s other plans for this building include an amenities package comparable to another one of his buildings at 331 East Houston Street. Therefore, 255 East Houston Street will most likely include a beautifully-equipped fitness room, roof deck, stunning lobby and a host of conveniences for the lucky residents who live there. With construction just starting, it should be completed by early 2019, or before.

And the base of 255 East Houston Street will have the kind of retail that really benefits the community, such as s a gourmet produce/grocery store, family-style diner, medical clinic, or daycare center. Mr. Mahfar is looking for the type of tenant that will bring real value to the neighborhood on many different levels, from convenience to culture!

Interestingly, 255 East Houston Street had very humble beginnings as a commercial building with four stories, built in the early part of the 20th century. When Mr. Mahfar originally purchased it, he implemented significant renovations and then gave a long-term lease to a great tenant, Action for Progress, a City-owned daycare center.

But an accident caused by construction at the adjacent development property at 265 East Houston, severely damaged Mr. Mahfar’s building. Moreover, it took the neighbor’s construction workers so long to repair the exterior wall damage that Samy Mahfar and his team could not get back into their own building for several months. As a result the city condemned their building and Action for Progress was forced to move.

After many years, Samy Mahfar and SMA Equities decided it would be best for everyone to tear down the compromised building and let it rise up like the mythical phoenix! Soon it will become a dazzling new apartment building with both affordable and market-rate housing and stores at the retail level that will be better for the entire community!

75-83 Orchard Street Lower East Side

With nearly a half block of frontage, 75-83 Orchard Street, between Grand and Broome Streets, has four stores and restaurants that provide services and products to the very distinct Lower East Side.

They include an art gallery, Austrian restaurant, and vintage clothing boutique with a bar and a coffee shop.

The block-through building, owned by SMA Equities Principal Samy Mahfar, which has 60 beautifully renovated, luxury residences from the second to fifth floors, extends all the way to Allen Street where there is also great retail, including a famous vegan restaurant and a restaurant supply store.

About Samy Mahfar

In addition to running a real estate company with substantial residential, commercial and land assets across the nation, SMA Equities Managing Principal and Co-Founder Samy Mahfar is a philanthropist of note. Influenced early on by the generosity of his father, Siyoun Mahfar, he was already actively involved in charitable endeavors through his synagogue, as a boy.

As a young businessman, Samy Mahfar became actively involved with the Maccabee Foundation, a non-profit organization his father helped found in 1995 to promote social equality and achievement through education. The organization focuses primarily on Jews of Iranian descent, promoting their cultural heritage, especially those who have made “Aliyah” to Israel. In the ensuing 20-plus years, the foundation has awarded over $15 million in scholarships to more than 10,000 students to help with their studies in medicine, law, engineering, chemistry, science, and myriad other subjects.

Another organization that Mahfar remains passionate about is the Friends of the Israeli Defense Forces (FIDF). Started by several survivors of the Holocaust in 1981, its mission is to help ensure the well-being of those who serve in the Israel Defense Forces, both women and men. It has programs for education and socialization, and provides recreational facilities. FIDF also has a support division for the widows, widowers, and orphans of soldiers who have died while in service. Headquartered in New York City, its Real Estate division hosts an annual gala, held at such venues as the New York Public Library on Fifth Avenue. For many years, Samy Mahfar was a member of the Real Estate division and sat on the board of directors. In his early year in the organization, he participated in the Young Leaders division. Since then, he has been actively helping through donations of funds, as well as his time.

Besides Maccabee and FIDF, Samy Mahfar has been active in other non-profit organizations, such as UJA, AIPAC and ISEF. Moreover, he continues to be a generous supporter and benefactor of the Lower East Side Chabad, donating classroom and event space in several of his buildings in the neighborhood for this revered organization, as needed. His non-secular charities are mostly focused on the Lower East Side community, helping local artists by providing free event space, donating funds to the New York Police Department’s 7^th Precinct for its holiday toy drive, and giving much-needed funds to the Bowery Mission.