Davidov, Benshimon obtain $10M loan from BankUnited for retail in Midtown West

Avner Davidov and Ofir Benshimon through the entity Bd Owners Group LLC as borrower signed a initial loan with lender BankUnited  valued at $10 million for the retail building (K2) at 25 West 47th Street in Midtown West, Manhattan.
The deal closed on June 10, 2025 and was recorded on June 12, 2025. The property has 5,643 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $1,772 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 owner bought the property on February 6, 2020, for $9.5 million. The signatory for Avner Davidov and Ofir Benshimon was Avner Davidov.

The property

The parcel has frontage of 23 feet and is 100 feet deep with a total lot size of 2,397 square feet. The zoning is C6-4.5 which allows for up to 12 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $3.1 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.

The neighborhood

In Midtown West, The majority, or 75 percent of the 75.9 million square feet of commercial built space are office buildings, with hotel buildings next occupying 14 percent of the space. In sales, Midtown West has the 2nd highest sale turnover among other neighborhoods in the city with $2.7 billion in sales volume in the last two years. For development, Midtown West is the most active neighborhood among other neighborhoods. It had 35.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 46 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 21 of the 35 commercial properties representing 1,122,002 square feet of the 1,866,158 square feet. The largest owner is Stawski Partners, followed by Jack Elo and then Fatollah Hematian.
On the tax block, there were two new building construction projects totaling 227,777 square feet. The largest is a 534-unit, 168,897 square-foot hotel/dormitory/shelter (R-1) building submitted by Extell Development and filed by David Rothstein with plans filed November 20, 2020 and permitted December 28, 2022. The second largest is a 58,880 square-foot mercantile (M) building submitted by Michael Mcmenamin with plans filed June 1, 2016 and it has not been permitted yet.

The majority, or 87 percent of the 1.9 million square feet of built space are office buildings, with retail buildings next occupying 10 percent of the space.

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