Eddy Calazel, Yuval Shimron pay $3.6M for 8-unit walkup in Harlem

Eddy Hersaut Calazel and Yuval Shimron paid $3.6 million to Leroy Gittens for the eight-unit residential walkup building (C5) at 21 West 121st Street in Harlem, Manhattan.
The deal closed on June 13, 2024 and was recorded on June 20, 2024. The property has 4,764 square feet of built space and 2,521 square feet of additional air rights for a total buildable of 7,289 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $750 and the price per buildable square foot is $490 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 Leroy S. Gittens was Leroy S. Gittens. The signatory for Eddy Hersaut Calazel and Yuval Shimron was Eddy Hersaut Calazel and Yuval Shimron. The contract date was March 18, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Eddy Hersaut Calazel had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Leroy S. Gittens had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Leroy Gittens, individual owner.

The property

The residential walkup building with 8 residential units in Harlem has 4,764 square feet of built space and 2,521 square feet of additional air rights for a total buildable of 7,289 square feet according to a PincusCo analysis of city data. The parcel has frontage of 21 feet and is 100 feet deep with a total lot size of 2,119 square feet. The zoning is R7-2 which allows for up to 3.44 times floor area ratio (FAR) for residential. The property is in the Mount Morris Park Historic District. The city-designated market value for the property in 2022 is $800,000.

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 block

On this tax block, PincusCo has identified the owners of eight of the 31 commercial properties representing 40,040 square feet of the 136,759 square feet. The largest owner is Reuven Sagi, followed by New York City Department Of Housing Preservation And Development and then Harlem Islamic Center.
There are no active new building construction projects on this tax block.

The majority, or 82 percent of the 136,759 square feet of built space are walkup buildings, with mixed-use buildings next occupying 18 percent of the space.

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