Andrea Laurette Leslau pays $5M for 9-unit walkup in Upper West Side

Andrea Laurette Leslau through the entity Leslau, Andrea L paid $5 million to Stephen Lipiner and Edna Lipiner for the nine-unit residential walkup building (C5) at 137 West 80th Street in Upper West Side, Manhattan.
The deal closed on June 24, 2024 and was recorded on July 10, 2024. The property has 6,425 square feet of built space and 2,145 square feet of additional air rights for a total buildable of 8,580 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $774 and the price per buildable square foot is $579 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 Stephen Lipiner and Edna Lipiner was Stephen Lipiner and Edna Lipiner. The signatory for Andrea Laurette Leslau was Andrea Laurette Leslau. The contract date was January 18, 2024. Andrea Laurette Leslau is married to Noam Leslau.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Andrea Laurette Leslau had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Stephen Lipiner 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 Edna Lipiner, individual owner and Acasio Vasquez, site manager.

The property

The residential walkup building with 9 residential units in Upper West Side has 6,425 square feet of built space and 2,145 square feet of additional air rights for a total buildable of 8,580 square feet according to a PincusCo analysis of city data. The parcel has frontage of 21 feet and is 102 feet deep with a total lot size of 2,145 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The property is in the Upper West Side / Central Park West Historic District. The city-designated market value for the property in 2022 is $4.1 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 received $100 in OATH penalties 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 18 of the 35 commercial properties representing 162,702 square feet of the 300,548 square feet. The largest owner is Sue Talansky, followed by Sophia Magnone and then Rudd Realty.
There are no active new building construction projects on this tax block.

The majority, or 82 percent of the 300,548 square feet of built space are walkup buildings, with elevator buildings next occupying 12 percent of the space.

The seller

The PincusCo database currently indicates that Edna Lipiner owned at least one commercial property with nine residential units in New York City with 6,425 square feet and a city-determined market value of $4.1 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Manhattan.

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