Bijan Nassi signs $22.5M refi with T30 Capital for three office properties in Greenwich Village
99 University Place (Credit - Google)
Bijan Nassi through the entity 60-62 E. Eleventh Street Corp as borrower signed a refi loan with lender T30 Capital through the entity Forthill GV Office Holder, LLC valued at $22.5 million for three office properties with one residential unit including the office building (O6) at 99 University Place, the office building (O6) at 60 East 11th Street, and the office building (O8) at 58 East 11th Street, all in Greenwich Village, Manhattan.
The deal closed on July 17, 2025 and was recorded on July 29, 2025. The prior lender was Avant Capital which held debt that had an original loan amount of $12.8 million. The three properties have 82,320 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $273 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 Bijan Nassi was Bijan Nassi.
Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 99 University Place.
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Violations and lawsuits
A prior lender had filed a pre-foreclosure suit 850250/2022 in 2022 related to a loan at 99 University Place, but that case was discontinued in 2023. There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $27,490 in ECB penalties and $37,840 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 neighborhood
In Greenwich Village, The bulk, or 24 percent of the 22.4 million square feet of commercial built space are specialty buildings, with hotel buildings next occupying 17 percent of the space. In sales, Greenwich Village has the 8th highest sale turnover among other neighborhoods in the city with $1.2 billion in sales volume in the last two years. For development, Greenwich Village has 1.4 times the average amount of major developments relative to other neighborhoods and is the 22nd highest in Manhattan. It had 1.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other office buildings in the past 12 months.
The block
On the tax block of 99 University Place, PincusCo has identified the owners of five of the 10 commercial properties representing 196,872 square feet of the 524,839 square feet. The largest owner is Taconic Partners, followed by Bijan Nassi and then New York Police Department.
On the tax block, there was one new building construction project filed totaling 30,000 square feet. It is a 40-unit, 30,000 square-foot residential (R-2) building submitted by Magnum Real Estate Group and filed by Alexander Laszlo with plans filed December 28, 2020 and permitted March 10, 2025.
The majority, or 83 percent of the 524,839 square feet of built space are office buildings, with elevator buildings next occupying 9 percent of the space.
The borrower
The PincusCo database currently indicates that Bijan Nassi owned at least nine commercial properties with 129 residential units in New York City with 243,642 square feet and a city-determined market value of $53.6 million. (Market value is typically about 50% of actual value.) The portfolio has $36.2 million in debt, with top three lenders as Northeast Bank, Avant Capital, and Elliot Sasson respectively. Within the portfolio, the bulk, or 52 percent of the 243,642 square feet of built space are office properties, with elevator properties next occupying 40 percent of the space. They are all located in Manhattan.
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