Allied Realty pays $14.3M for 20-unit walkup in East Village

Allied Realty & Development through the entity Chelsea Point LLC paid $14.3 million to Steven Haskell through the entity Sp&S Associates LLC for the 20-unit residential walkup building (C5) at 113-117 East 11th Street in East Village, Manhattan. The expected use is cash flowing.
The deal closed on November 19, 2025 and was recorded on November 26, 2025. The property has 12,300 square feet of built space and 7,775 square feet of additional air rights for a total buildable of 20,088 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,160 and the price per buildable square foot is $710 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 Steven Haskell was Steven Haskell. The signatory for Allied Realty & Development was Bahram Hakakian . The contract date was June 2, 2025. Robert Haskell, who died in 2020, bought the parcel from the Roman Catholic Church of St. Ann on December 16, 1977. Steven is one of his children.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Allied Realty & Development purchased three properties in three transactions for a total of $26.9 million and sold two properties in two transactions for a total of $34.5 million over the past 24 months.
The seller Steven Haskell 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 Steven Haskell, head officer and Eric Simmons, site manager. The business entity is Sp & S Associates Llc. The 12,300-square-foot property generated revenue of $1.1 million or $86 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 20 residential units in East Village has 12,300 square feet of built space and 7,775 square feet of additional air rights for a total buildable of 20,088 square feet according to a PincusCo analysis of city data. The parcel has frontage of 75 feet and is 44 feet deep with a total lot size of 3,337 square feet. The zoning is C6-2A which allows for up to 6 times floor area ratio (FAR) for commercial and up to 6.02 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $5.2 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 block

On this tax block, PincusCo has identified the owners of 11 of the 14 commercial properties representing 564,911 square feet of the 666,815 square feet. The largest owner is Lightstone Group, followed by Rabina Properties and then New York University.
There are no active new building construction projects on this tax block.

The majority, or 43 percent of the 666,815 square feet of built space are hotel buildings, with elevator buildings next occupying 25 percent of the space.

The buyer

The PincusCo database currently indicates that Allied Realty & Development owned at least 46 commercial properties with 475 residential units in New York City with 483,544 square feet and a city-determined market value of $98.7 million. (Market value is typically about 50% of actual value.) The portfolio has $71.9 million in debt, with top three lenders as Citizens Bank, First Republic Bank, and Peapack-Gladstone Bank respectively. Within the portfolio, the bulk, or 54 percent of the 483,544 square feet of built space are walkup properties, with retail properties next occupying 25 percent of the space. The bulk, or 73 percent of the built space, is in Manhattan, with Brooklyn next at 14 percent of the space.

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