East Group Capital pays $2.3M for 10-unit UWS rental

East Group Capital through the entity UWS NYC LLC paid $2.3 million to Francesco Bruno through the entity 142 West 87th Street Associates LLC for 10-unit rental (C5) at 142 West 87th Street in Upper West Side, Manhattan.
The deal closed on December 1, 2021 and was recorded on December 10, 2021.
The property has 6,190 square feet of built space and 724 square feet of additional air rights for a total buildable of 6,924 square feet according to PincusCo analysis of city data. The sale price per built square foot is $371 and the price per buildable square foot is $332 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 Francesco Bruno was Francesco Bruno. The signatory for East Group Capital was Itay Gamlieli.

Itay Gamlieli is co-founder of East Group Capital.
The former owners according to the Department of Housing Preservation and Development included 142 West 87th Street Associates Llc, head officer and Francesco Brusco, lessee. The business entities were 142 West 87th Street Asso Llc and 142 West 87th Street Asso Llc.

Within a 400-foot radius of 142 West 87th Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, two were loans above $5 million totaling $26.6 million. The most recent of the two was Harry Schessel who borrowed $10 million from First Republic Bank secured by the 76,302-square-foot, 37-unit rental (D3) on 156 West 86th Street on November 29, 2021.

Direct link to Acris document. link