Double U Realty pays $5.8M to HUBB NYC for retail in Chelsea

Double U Realty through the entity 110 7 Th Ave LLC paid $5.8 million to HUBB NYC through the entity 110 Seventh Avenue Condo LLC for the ground floor retail condominium unit at 110 Seventh Avenue in Chelsea, Manhattan. The expected use is cash flowing. Cookware retailer William Sonoma is a tenant in the unit. The building also has the address 106 Seventh Avenue.
The deal closed on December 22, 2025 and was recorded on January 15, 2026. The property has 7,556 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $760 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 seller bought the property on January 25, 2012, for $30 million. The signatory for HUBB NYC was John P. McCarthy and Steve Dluzyn . The signatory for Double U Realty was Michael Weitzman . The contract date was October 30, 2025. HUBB NYC, under its prior name Trevi Retail, bought this and another retail condo for $30 million in January 2012.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Double U Realty purchased three properties in three transactions for a total of $25.4 million and sold three properties in two transactions for a total of $72.4 million over the past 24 months.
The seller HUBB NYC purchased five properties in five transactions for a total of $193.3 million and sold four properties in three transactions for a total of $22.7 million over the same time period.

The property

The office condo in Chelsea has 7,556 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 7,556 square feet. The city-designated market value for the property in 2022 is $3.4 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 Chelsea, The bulk, or 35 percent of the 52.5 million square feet of commercial built space are office buildings, with elevator buildings next occupying 28 percent of the space. In sales, Chelsea has the 7th highest sale turnover among other neighborhoods in the city with $1.4 billion in sales volume in the last two years. For development, Chelsea has 2 times the average amount of major developments relative to other neighborhoods and is the 12th highest in Manhattan. It had 3 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 this tax block, PincusCo has identified the owners of 13 of the 20 commercial properties representing 156,024 square feet of the 252,476 square feet. The largest owner is S.W. Management, followed by Son Dinh Tran and then Alex Adjmi.
There are no active new building construction projects on this tax block.

The majority, or 54 percent of the 252,476 square feet of built space are walkup buildings, with office buildings next occupying 21 percent of the space.

The seller

The PincusCo database currently indicates that Hubb Nyc owned at least 59 commercial properties with 1,698 residential units in New York City with 1,325,762 square feet and a city-determined market value of $435.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 72 percent of the 1,325,762 square feet of built space are elevator properties, with walkup properties next occupying 26 percent of the space. The bulk, or 57 percent of the built space, is in Manhattan, with Brooklyn next at 43 percent of the space.

The buyer

The PincusCo database currently indicates that Double U Realty owned at least eight commercial properties with 59 residential units in New York City with 97,603 square feet and a city-determined market value of $21.1 million. (Market value is typically about 50% of actual value.) The portfolio has $184.8 million in debt, with top three lenders as Lorimer Capital, Citibank, and S3 Capital respectively. Within the portfolio, the bulk, or 62 percent of the 97,603 square feet of built space are mixed-use properties, with retail properties next occupying 17 percent of the space. They are all located in Brooklyn.

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