D’Agostino Supermarkets signs $28M refi for four properties in Manhattan

D’Agostino Supermarkets through the entity Greenwich Associates, LLC-2 (and others) as borrower signed a refi loan with lender OceanFirst Bank valued at $28 million for four properties with six residential units including the six-unit mixed-use building (K4) at 790 Greenwich Street in West Village, Manhattan, retail condo at 345 East 56th Street in Sutton Place, Manhattan, and retail condo at 1068 Lexington Avenue in Lenox Hill, Manhattan.
The deal closed on August 26, 2025 and was recorded on September 16, 2025. The prior lender was Bank of Hope which held debt that had an original loan amount of $33.5 million. The four properties have 53,098 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $527 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 D’Agostino Supermarkets was Nicholas D’Agostino III. The signatory for OceanFirst Bank was Nick Ferrarone.

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 790 Greenwich Street.

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Nicholas D’Agostino, head officer and Kelly Occhipinti, site manager. The business entities are Precision Asset Management and Greenwich Associates. Out of the four properties, one with a total of 53,098 square feet of built space generated revenue of $1.9 million per year.

The property

The mixed-use building with 6 residential units in West Village has 53,098 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 72 feet and is 83 feet deep with a total lot size of 6,011 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $10.8 million.

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 $350 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 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 2.8 times the average sales volume among other neighborhoods with $812 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 837,726 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.

The block

On the tax block of 790 Greenwich Street, PincusCo has identified the owners of eight of the 10 commercial properties representing 121,525 square feet of the 150,202 square feet. The largest owner is William Gottlieb Real Estate, followed by Gary Spindler and then Edward Tempesta.
There are no active new building construction projects on this tax block.

The majority, or 51 percent of the 150,202 square feet of built space are elevator buildings, with mixed-use buildings next occupying 22 percent of the space.

Direct link to Acris document. link