Steven Ostad pays $11M to Bartle family for mixed-use building in Greenwich Village

Steven Ostad through the entity 36 West 11th Street Bh, LLC paid $11 million to the Bartle family for six-unit mixed-use building (S5) at 36 West 11th Street in Greenwich Village, Manhattan.
The deal closed on October 8, 2021 and was recorded on November 17, 2021.
The property has 4,791 square feet of built space and 205 square feet of additional air rights for a total buildable of 4,991 square feet according to PincusCo analysis of city data. The sale price per built square foot is $2,295 and the price per buildable square foot is $2,203 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 May 1, 2007, for $650,000.
The signatory for Bartle Family was Christopher H. Bartle, Elizabeth D. Bartle, and Marion B. Parks. The signatory for Steven Ostad was Steven Ostad. Ostad heads Empire City Realty.

The former owners according to the Department of Housing Preservation and Development includes Marion Bartle Packs, head officer and Elizabeth Bartle, officer. The business entity is Bartle Family Limited Partnership.

Within a 400-foot radius of 36 West 11th Street, PincusCo identified nine commercial real estate items of interests occurred over the past 24 months.
Of those nine items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on December 23, 2020 for the $1.5 million renovation of 20,184-square-foot R-2 building with 52 residential units at 27 West 11th Street.
Of those nine items, six were sales above $5 million totaling $96.4 million. The most recent of the six was Ah Nyre 3 LLC which bought the 6,029-square-foot, one-unit townhouse (A4) on 47 West 9th Street for $20.8 million from 47 West 9th Street LLC on October 25, 2021.
Of those nine items, two were loans above $5 million totaling $31.8 million. The most recent of the two was Arthur Lambert Jr. which borrowed $12.8 million from Dalan Management secured by the 5,479-square-foot, five-unit rental (C2) on 33 West 9th Street and one other property on June 17, 2020.

Correction: A prior version of this post misspelled the Amirian Group name, which was identified as the buyer. In fact, the buyer is a company controlled by Steven Ostad. City records provided a “care of” address with the Amirian Group.

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