Abraham Sanieoff signs $22.6M refi for 32-unit rental in Greenwich Village

Abraham Sanieoff through the entity 162 West 13th Street LLC as borrower signed a refi loan with lender Citibank through the entity Citi Real Estate Funding Inc. valued at $22.6 million for the 32-unit residential elevator building (D6) at 162 West 13th Street in Greenwich Village, Manhattan.
The deal closed on February 7, 2025 and was recorded on February 18, 2025. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $12 million. The property has 22,998 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $984 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 owner bought the property on August 14, 2019, for $22.5 million. The signatory for Abraham Sanieoff was Abraham Sanieoff. The signatory for Citibank was Anna Gutteridge .

Prior sales and revenue

The owner according to the Department of Housing Preservation and Development is A Sanieoff, head officer. The business entity is 162 West 13th Street Llc.

The property

The residential elevator building with 32 residential units in Greenwich Village has 22,998 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 47 feet and is 100 feet deep with a total lot size of 4,700 square feet. The zoning is C2-6 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 3.44 times FAR for residential. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $8.9 million. The most recent loan totaled $12 million and was provided by First Republic Bank on August 14, 2019. The property has 6 rent regulated units according to city tax records from 2023.

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 one DOB violation, $1,250 in ECB penalties, and $12,250 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 three of the 17 commercial properties representing 68,407 square feet of the 157,381 square feet. The largest owner is A Sanieoff, followed by Slate Property Group and then Abraham Sanieoff.
There are no active new building construction projects on this tax block.

The majority, or 26 percent of the 157,381 square feet of built space are elevator buildings, with mixed-use buildings next occupying 23 percent of the space.

The borrower

The PincusCo database currently indicates that Abraham Sanieoff owned at least four commercial properties with 131 residential units in New York City with 84,487 square feet and a city-determined market value of $25.4 million. (Market value is typically about 50% of actual value.) The portfolio has $37.1 million in debt, borrowed from Citizens Bank and Santander Bank. Within the portfolio, the bulk, or 59 percent of the 84,487 square feet of built space are walkup properties, with elevator properties next occupying 41 percent of the space. They are all located in Manhattan.

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