Adam Semler pays $17.7M to David Moore for two rental buildings in Nolita

Adam Semler paid $17.7 million to David Moore for two rental buildings in Nolita in two separate transactions.

In the first, Adam Semler through the entity OR 196 Elizabeth, LLC paid $8.9 million to David Moore through the entity 196 Elizabeth St. LLC for 20-unit rental (C7) at 196 Elizabeth Street in Nolita, Manhattan.
The deal closed on April 16, 2021 and was recorded on April 29, 2021.
The property has 11,850 square feet of built space and 2,886 square feet of additional air rights for a total buildable of 14,724 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $747 and the price per buildable square foot is $601 per the PincusCo analysis.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $86,325. (104895339) One of the projects was to change the building from a RES to a RES and change the number of residential units from 0 to 17 and was permitted on October 26, 2007.
The former owners according to the Department of Housing Preservation and Development includes David Moore, head officer and Jorge Concepcion, site manager. The business entity is 196 Elizabeth St Llc.

In the second transaction, Adam Semler through the entity OR 240 Mulberry LLC paid $8.9 million to David Moore through the entity Mulberry Realty LLC for 21-unit rental (C7) at 240 Mulberry Street in Nolita, Manhattan.
The deal closed on April 16, 2021 and was recorded on April 29, 2021.
The property has 10,995 square feet of built space and 3,944 square feet of additional air rights for a total buildable of 14,935 square feet according to PincusCo analysis of city data. The sale price per built square foot is $806 and the price per buildable square foot is $593 per the PincusCo analysis.
The seller bought the property on 24-May-2004, for $2.7 million.

(103130737)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 19 residential units on January 13, 2021.
The former owners according to the Department of Housing Preservation and Development includes David Moore, head officer and Jorge Concepcion, officer. The business entity is Mulberry Realty Llc.