Acram Group pays $21.2M in REO to LNR Partners-serviced seller for retail in Greenwich Village

UPDATED 8:18 p.m., March 13, 2026: Acram Group through the entity Bleecker Owner LLC paid $21.2 million through a real estate owned process to bondholders of the Benchmark Capital Advisors-affiliated trust, Benchmark 2018-B1, serviced by LNR Partners, through the entity Bmark 2018-B1 Bleecker Street, LLC for the retail condo at 156-168 Bleecker Street in Greenwich Village, Manhattan. The expected use is cash flowing.
The deal closed on February 27, 2026 and was recorded on March 12, 2026. The property has 27,626 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $769 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 seller bought the property on December 13, 2011, for $30.6 million. The signatory for Benchmark Capital Advisors, Benchmark 2018-B1, and LNR Partners was Randall Rosen. The signatory for Acram Group was David Taylor . The contract date was December 12, 2025.

Transaction Participants

Alan Petner of Novare National Settlement Service, LLC participated in the transaction on behalf of the buyer Acram Group.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Acram Group had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Benchmark Capital Advisors had not purchased any other properties and had not sold any properties over the same time period.

The property

The retail condo in Greenwich Village has 27,626 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 27,626 square feet. The city-designated market value for the property in 2022 is $13.8 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 not received any significant violations 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 neighborhood

In Greenwich Village, The bulk, or 24 percent of the 22.4 million square feet of commercial built space are specialty buildings, with hotel buildings next occupying 17 percent of the space. In sales, Greenwich Village has 3.8 times the average sales volume among other neighborhoods with $1.2 billion in sales volume in the last two years and is the 10th highest in Manhattan. For development, Greenwich Village has near average amount of major developments among other neighborhoods and is the 25th highest in Manhattan. It had 1.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space. There were 24 pre-foreclosure suit filed among other retail buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of 17 of the 32 commercial properties representing 236,957 square feet of the 360,969 square feet. The largest owner is Gatsby Enterprises, followed by Ryco Capital and then Viking Management.
There are no active new building construction projects on this tax block.

The majority, or 58 percent of the 360,969 square feet of built space are walkup buildings, with mixed-use buildings next occupying 34 percent of the space.

The seller

The PincusCo database currently indicates that LNR Partners owned at least two commercial properties in New York City with 67,428 square feet and a city-determined market value of $48.2 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 78 percent of the 67,428 square feet of built space are retail properties, with mixed-use properties next occupying 22 percent of the space. They are all located in Manhattan.

Correction: A prior version of this post used the incorrect photo of the building, using a picture of 156 Bleecker Street in Brooklyn, not the correct building in Manhattan.

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