Bedding company Hastens Ltd. pays $6M for retail in Park Avenue South

The bedding company Hastens Ltd. through the entity Hastens Real Estate USA, Inc. paid $6 million to JD Carlisle Development through the entity Madison 30 31 Owner LLC for the retail condo at 132 Madison Avenue in Park Avenue South, Manhattan. The expected use is owner-occupied.
The deal closed on December 4, 2025 and was recorded on December 16, 2025. The property has 4,728 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,269 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 JD Carlisle Development was Evan Stein . The signatory for Hastens Ltd. was Timothy Dillon. The contract date was September 8, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Hastens Ltd. had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller JD Carlisle Development had not purchased any other properties and had not sold any properties over the same time period.

The property

The retail condo in Park Avenue South has 4,728 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 4,728 square feet. The city-designated market value for the property in 2022 is $3 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. On the tax lot, the most recent condominium plan was filed by 15 EAST 30 SPONSOR LLC to create 199 residential units and 2 commercial units in a building at 15 East 30th Street in Park Avenue South, Manhattan, called Madison House Condominiumthat has a $793.3 million sellout, according to an August 14, 2018 submission to the New York State Attorney General.

The neighborhood

In Park Avenue South, The majority, or 67 percent of the 9 million square feet of commercial built space are office buildings, with elevator buildings next occupying 16 percent of the space. In sales, Park Avenue South has 1.9 times the average sales volume among other neighborhoods with $567.4 million in sales volume in the last two years and is the 17th highest in Manhattan. For development, Park Avenue South has had very little major development activity relative to other neighborhoods.It had 578,546 square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 13 of the 19 commercial properties representing 1,264,629 square feet of the 1,527,688 square feet. The largest owner is Tribeca Associates, followed by Global Holdings Management Group and then Electra America Hospitality Group.
On the tax block, there were three new building construction projects totaling 137,577 square feet. The largest is a 42-unit, 71,717 square-foot residential (R-2) building submitted by Ekstein Development Group and filed by Erik Ekstein with plans filed February 12, 2015 and permitted March 3, 2017. The second largest is a 49-unit, 42,028 square-foot residential (R-2) building submitted by Rick Serrapica with plans filed April 18, 2017 and permitted May 28, 2019.

The majority, or 66 percent of the 1.5 million square feet of built space are office buildings, with hotel buildings next occupying 19 percent of the space.

The seller

The PincusCo database currently indicates that Jd Carlisle Development owned at least one commercial property in New York City with 185,000 square feet and a city-determined market value of $55.6 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single office property. It is located in Manhattan.

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