Alexis Baez pays $7.8M to Rafi Gibly for mixed-use building in Tribeca

Alexis Baez through the entity 311 Tribeca Property LLC paid $7.8 million to Rafi Gibly through the entity Mvg Properties LLC for four-unit mixed-use building (S4) at 311 Church Street in Tribeca, Manhattan.
The deal closed on October 20, 2021 and was recorded on October 29, 2021.
The property has 8,738 square feet of built space and 2,769 square feet of additional air rights for a total buildable of 11,498 square feet according to PincusCo analysis of city data. The sale price per built square foot is $892 and the price per buildable square foot is $678 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 September 4, 2007, for $6.3 million.
The signatory for Rafi Gibly was Fred L. Seeman and Rafi Gibly. The signatory for Alexis Baez was Alexis Baez.

The former owners according to the Department of Housing Preservation and Development includes Rafi Gibly, head officer and Fifi Bassan, agent. The business entity was Mvg Properties Llc.

Within a 400-foot radius of 311 Church Street, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months.
Of those eight items, four were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $2.2 million, one permit with a total initial cost of $623,080.0 and one initial temporary certificate of occupancy issuance for a project that initially costed $1.2 million. The most recent of these four items was the permit on May 5, 2021 for a 9,518-square-foot B building with three residential units at 313 Church Street.
Of those eight items, two were sales above $5 million totaling $21.3 million. The most recent of the two was Back To The Hustle And Bustle, LLC which bought one condo unit in the 7,105-square-foot, six-unit condo building (R1) on 43 Walker Street for $12.8 million from NYC Walker LLC on September 3, 2021.
Of those eight items, two were loans above $5 million totaling $98.3 million. The most recent of the two was Mitchell Schwartz which borrowed $5.5 million from Northfield Bank secured by the 11,200-square-foot, five-unit mixed-use building (S4) on 40 Walker Street on October 13, 2021.

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