Anonymous Roslyn buyer pays $3.2M to Walter & Samuels for retail in NoHo

An anonymous buyer based in Roslyn through the entity Ani V Ani LLC paid $3.2 million to Walter & Samuels through the entity 316 Bowery Next Generation LLC for the retail condominium unit at 2 Bleecker Street in NoHo, Manhattan.
The deal closed on April 15, 2024 and was recorded on May 9, 2024. The property has 3,431 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $932 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 this property along with the building 4 Bleecker Street on June 30, 2014, for $14.9 million. The signatory for Walter & Samuels was David I. Berley. The signatory for Ani V Ani LLC was Lisa Urban. The contract date was November 3, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Walter & Samuels had not purchased any other properties and sold two properties in two transactions for a total of $36.2 million over the same time period.

The property

The retail condo in NoHo has 3,431 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 3,431 square feet. The city-designated market value for the property in 2022 is $2.5 million. The most recent loan totaled 0.0 and was provided by Northeast Bank on October 20, 2022.

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 neighborhood

In NoHo, The majority, or 55 percent of the 3.8 million square feet of commercial built space are office buildings, with elevator buildings next occupying 14 percent of the space. In sales, NoHo has near average sales volume among other neighborhoods with $314.7 million in sales volume in the last two years and is the 25th highest in Manhattan. For development, NoHo has had very little major development activity relative to other neighborhoods.It had 443,316 square feet of commercial and multi-family construction under development in the last two years, which represents 12 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of six of the 19 commercial properties representing 324,711 square feet of the 475,589 square feet. The largest owner is Zucker Organization, followed by Sol Goldman Investments and then Lawland Properties.
There are no active new building construction projects on this tax block.

The majority, or 62 percent of the 475,589 square feet of built space are elevator buildings, with mixed-use buildings next occupying 15 percent of the space.

The seller

The PincusCo database currently indicates that Walter & Samuels owned at least nine commercial properties with five residential units in New York City with 535,197 square feet and a city-determined market value of $126.8 million. (Market value is typically about 50% of actual value.) The portfolio has $112.1 million in debt, borrowed from Bank of America and Citibank. Within the portfolio, the bulk, or 82 percent of the 535,197 square feet of built space are office properties, with specialty properties next occupying 14 percent of the space. They are all located in Manhattan.

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