Bridgeton Holdings signs $62M refi with Riyad Bank for two properties in Greenwich Village

Bridgeton Holdings through the entity Bridgeton West 13 Fee LLC as borrower signed a refi loan with lender Riyad Bank  valued at $62 million for two properties with two residential units including the hotel building (HB) at 54 West 13th Street and the two-unit mixed-use building (S2) at 50 West 13th Street in Greenwich Village, Manhattan.
The deal closed on November 17, 2025 and was recorded on December 22, 2025. The prior lender was Series 2016-4 with servicer Trimont which held debt that had an original loan amount of $48.8 million. The two properties have 49,884 square feet of built space and 9,192 square feet of additional air rights according to a PincusCo analysis of city data. The loan price per built square foot is $1,242 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 Bridgeton Holdings was Atit Jariwala .

PincusCo reported last week that the Peled family through the entity Yp Gp Holdings 13th Street, LLC acquired a ground lease for $12.8 million from MacArthur Holdings and CB Developers through the entity 47 Development TIC LLC for control of the 65-unit hotel building (H8) at 48 West 14th Street in Greenwich Village, Manhattan.   https://www.pincusco.com/peled-family-pays-12-8m-to-macarthur-holdings-cb-developers-for-ground-lease-controlling-hotel-in-greenwich-village/

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Atit Jariwala, head officer and Peter Yeung, agent. The business entities are Bridgeton Hotel Managment Llc and Bridgeton West 13 Fee Llc. Out of the two properties, one with a total of 49,884 square feet of built space generated revenue of $16.4 million per year.

Violations and lawsuits

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 one DOB violation and $24,675 in OATH penalties in the last year.

Development

For the tax lot buildings, one out of the two buildings received a initial certificate of occupancy in the last ten years. 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 9th 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 near average amount of major developments among other neighborhoods and is the 24th highest in Manhattan. It had 1.4 million 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 the tax block of 54 West 13thstreet, PincusCo has identified the owners of six of the 15 commercial properties representing 171,413 square feet of the 415,708 square feet. The largest owner is New York University, followed by Sol Goldman Investments and then Lioncub Development.
There are no active new building construction projects on this tax block.

The majority, or 42 percent of the 415,708 square feet of built space are specialty buildings, with office buildings next occupying 27 percent of the space.

The borrower

The PincusCo database currently indicates that Bridgeton Holdings owned at least one commercial property in New York City with 61,219 square feet and a city-determined market value of $21.3 million. (Market value is typically about 50% of actual value.) The portfolio has $60 million in debt, borrowed from Riyad Bank. The portfolio consists of at least a single hotel property. It is located in Manhattan.

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