Anonymous “TMEC” entity pays $2.7M for West Village retail, bought $67M in US over 2 years
70 7th Avenue South (l.) 39 Barrow Street (r.) (Credit - Cyclomedia)
An anonymous owner through the entity TMEC Seventy Seventh, Inc. paid $2.7 million to Eun Lee through the entity 343 Plandome Road, Inc. for the retail building (K1) at 70 7th Avenue South in West Village, Manhattan.
An affiliate of the buyer, TMEC Barrow Inc., bought an adjacent property, a single-family home at 39 Barrow Street in January for $7.3 million.
Affiliated entities have purchased at least $67.4 million in commercial and residential real estate over the past two years in Boston, Nashville, California, Vermont, Connecticut and Manhattan.
TMEC entities
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | Name | Corp. address | Acquisition address | type | price | sale date | link |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Santa Monica, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | 2943 MAIN ST, SANTA MONICA, CA 90405-5315 | comm | 7,200,000 | 2/26/25 | |
| 2 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Newport Beach, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | 2410 Newport Blvd Newport Beach, CA 92663 | resi | 11,625,000 | 6/6/25 | |
| 3 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC El Segundo, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | 211 California Street El Segundo, CA | comm | 5,250,000 | 2nd quarter 2025 | |
| 4 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Grove, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | 6371 W 6th St Los Angeles, CA 90048 | resi | 2,697,692 | 7/29/25 | https://www.homes.com/property/6371-w-6th-st-los-angeles-ca/ds5dhkd30w47g/ |
| 5 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Mar Vista, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | 3343 Cabrillo Blvd Los Angeles, CA 90066 | resi | 3,790,000 | Oct 9, 2025 | https://www.homes.com/property/3343-cabrillo-blvd-los-angeles-ca/9yfd3bejy4ntv/ |
| 6 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Topanga, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | UNCLEAR | ??? | 0 | ??? | |
| 7 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Barrow, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | 39 BARROW STREET, New York, NY 10014 | resi | 7,300,000 | 1/15/2026 | |
| 8 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Burlington, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | Vermont | ??? | 0 | ??? | |
| 9 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Nashville, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | 1033 16th Avenue South in Nashville, TN. | comm | 3,850,000 | 2/20/26 | |
| 10 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Newbury, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | 284 Newbury St, Boston, MA 02115 | comm | 20,000,000 | 7/8/24 | https://www.homes.com/property/284-newbury-st-boston-ma/bpehrnggy5lgf/ |
| 11 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Riverside, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | 112-114 Riverside Avenue, Riverside, CT 06878 | comm | 3,000,000 | 3/12/24 | https://www.bhhsneproperties.com/commercial/smt/170614291/112-114-riverside-avenue-riverside-ct-06878 |
| 12 | acris | 04/21/2026 11:17 AM | acris | 04/21/2026 11:17 AM | TMEC Seventy Seventh, Inc. | 515 S. Flower Street Ste. 1800 Los Angeles, CA 90071 | 70 7th Ave South, NY NY | comm | 2,675,000 | 4/15/26 |
The deal closed on April 15, 2026 and was recorded on April 16, 2026. The property has 960 square feet of built space and 1,140 square feet of additional air rights for a total buildable of 2,098 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $2,786 and the price per buildable square foot is $1,274 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 November 13, 2009, for $962,500. The signatory for Eun Lee was Eun Lee. The signatory for TMEC entity was Michelle Fontanez . The contract date was April 6, 2026.
Prior sales, articles and revenue
Prior to this transaction, PincusCo has records that the buyer TMEC entity purchased one property in New York City and has no record it sold any properties over the past 24 months.
The seller Eun Lee had not purchased any other properties and had not sold any properties over the same time period. The 960-square-foot property generated revenue of $137,050 or $143 per square foot, according to the most recent income and expense figures.
The property
The retail building in West Village has 960 square feet of built space and 1,140 square feet of additional air rights for a total buildable of 2,098 square feet according to a PincusCo analysis of city data. The parcel has frontage of 38 feet and is 28 feet deep with a total lot size of 610 square feet. The lot is irregular. The zoning is C2-6 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 3.44 times FAR for residential. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $641,000.
Transaction Participants
Hymie Kindler at Olshan Frome Wolosky LLP participated in the transaction on behalf of the buyer.
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 $6,500 in OATH penalties in the last year.
Development
For the tax lot building, it received its initial certificate of occupancy on June 5, 2017. 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 West Village, The bulk, or 31 percent of the 10.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 27 percent of the space. In sales, West Village has 2.9 times the average sales volume among other neighborhoods with $952.6 million in sales volume in the last two years and is the 13th highest in Manhattan. For development, West Village has had very little major development activity relative to other neighborhoods.It had 747,428 square feet of commercial and multi-family construction under development in the last two years, which represents 7 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of 10 of the 18 commercial properties representing 112,710 square feet of the 156,018 square feet. The largest owner is Beechwood Organization, followed by Harounian Enterprises and then J&L Holding.
There are no active new building construction projects on this tax block.
The majority, or 72 percent of the 156,018 square feet of built space are walkup buildings, with elevator buildings next occupying 14 percent of the space.
Direct link to Acris document. link