6-unit West Village townhouse sells for $11.5M

The entity 60 B Street, LLC in care of the law firm Aldad & Associates, paid $11.5 million for the six-unit residential walkup building (C2) at 60 Bank Street in West Village, Manhattan. The Leslie J. Garfield & Co. listing said the property could be income producing or delivered vacant for a single-family home conversion.
The deal closed on May 30, 2024 and was recorded on June 3, 2024. The property has 4,350 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $2,643 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for the sellers, Frederick D. Newman LLC and Susan Massad LLC was Paul M. Giddins. The signatory for Aldad & Associates registered was Lior Aldad. The contract date was March 11, 2024. Susan Massad died in 2021.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Aldad & Associates registered had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Frederick D. Newman had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Gabrielle Kurlander, head officer and Jackie Salit, officer. The business entity is Frederick Newman Llc.

The property

The residential walkup building with 6 residential units in West Village has 4,350 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 23 feet and is 75 feet deep with a total lot size of 1,738 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $4.7 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $50 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of nine of the 18 commercial properties representing 83,070 square feet of the 123,411 square feet. The largest owner is Willowick Properties, followed by William Gottlieb Real Estate and then Rudy Andriani.
There are no active new building construction projects on this tax block.

The majority, or 83 percent of the 123,411 square feet of built space are walkup buildings, with mixed-use buildings next occupying 17 percent of the space.

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