244 West 18 Street
Chelsea, Manhattan
Parcel ID (BBL): 1007670067
Owner: Verdevelopment Group
Acquired: August 15, 2024, $10.5 million
Debt: January 24, 2025, $13 million
Built: 1915
SF: 15,371
Dwelling units: 39
No. of buildings: 2
Class: Over Six Families With Stores (C7)
Floors: 5
Legacy BBLs: 1007670066.00000000
HPD Ownership Registration Information
Last registered: 2022-08-22 (expires 2023-09-01)
244-246 Members Llc
Corporate Owner
244 WEST 18TH STREET New York, NY, 10011
18Th Street Realty
Corporate Owner
246 WEST 18TH ST NEW YORK, NY, 10011
Neville Grey
Officer
47-21 35TH STREET L I C, NY, 11101
Direct Management Corp.
Agent
42-14 ASTORIA BLVD. Astoria, NY, 11103
Direct Management Corp.
Agent
42-14 ASTORIA BLVD PO BOX 3204, NY, 11103
Fidencio Cazarez
Site Manager
Fidencio Cazaresz
Site Manager
Transactions:
• Verdevelopment Group borrowed $13 million from SME Capital Ventures for 246 West 18th Street, Chelsea, Manhattan on January 24, 2025.
• 310 Kent Ave Suite 408 Brooklyn registered borrowed $16 million from SME Capital Ventures for 246 West 18th Street, Chelsea, Manhattan on August 15, 2024.
• Joseph Nabavi sold 246 West 18th Street, Chelsea, Manhattan for $10.5 million to 310 Kent Ave Suite 408 Brooklyn registered on August 15, 2024.
• SME Capital Ventures on March 15, 2023 bought a loan with an original principal of $8 million from Emerald Creek Capital, signed by Mark Bahiri, secured by 246 West 18th Street, Chelsea, Manhattan, when owned by Joseph Nabavi.
Development:
• Pinner Development Group filed new building job M01135836 for 27,614 sqft R-2 building with 19 apartments in Chelsea, Manhattan, on December 05, 2024.
• Joseph Nabavi filed new building job M00502161 for 100 sqft M building with 26 apartments in Chelsea, Manhattan, on September 24, 2021.
• Jagdish Singh filed alteration job M01406821 for building in Chelsea, Manhattan, on May 26, 2026.
• Rosalio Rojo filed alteration job M01365939 for 35,000 sqft building with 21 apartments in Chelsea, Manhattan, on March 02, 2026.
• Ibraim Redza filed alteration job M01352304 for 1,000 sqft building with 8 apartments in Chelsea, Manhattan, on January 29, 2026.
• Ibraim Redza filed alteration job M01287999 for 1,000 sqft building with 8 apartments in Chelsea, Manhattan, on January 23, 2026.
• Ibraim Redza filed alteration job M01343377 for 36,470 sqft building with 19 apartments in Chelsea, Manhattan, on January 08, 2026.
Most recent Schedule of Occupancy
Most recent Zoning Diagram (ZD1)
Litigation:
• City of New York filed a $1 million lawsuit 452910/2023 against Joseph Nabavi on October 31, 2023,seeking a judgment related to unsafe buildingat 246 West 18Th Street.
• Joseph Navabi, Neville Grey and Tatsumara Kazuko on May 19, 2023, filed a $10 million bankruptcy 23-10796-pb for 246 West 18Th Street that has creditor SME Capital Ventures.
Condominium:
• Reuben Pinner filed plans CD260098 on March 16, 2026 for 21-unit condominium called 246 West 18 Condominium at 246 West 18th Street.
Violations:
According to city public data, the properties have received one DOB violation, $25,625 in ECB penalties, and $28,085 in OATH penalties in the last year.