SAMY MAHFAR BRINGS MERIT TO HIS LOWER EAST SIDE TENANTS

By investing in improvements at his buildings at 22 Spring Street, 102 Norfolk Street, and 113 Stanton Street, Samy Mahfar and his firm SMA Equities have transformed living conditions for many tenants.

First, he cured nearly 277 violations, most of which pre-existed long before he bought the buildings. He then began a series of renovations that vastly enhanced building safety, such as video intercoms, security cameras and new and stronger entry doors.

In addition, Samy Mahfar upgraded the electrical systems so that residents are now able to run air-conditioners at the same time as hair dryers, toasters, and other appliances.

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. 

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.