EquityMultiple pays $8.8M to AMAC for residential walkup in Alphabet City

EquityMultiple through the entity Emip 21, LLC paid $8.8 million to AMAC through the entity 207 East 4th Street Owner LLC for the eight-unit residential walkup building (C7) at 207 East 4th Street in Alphabet City, Manhattan. The expected use is cash flowing.
The deal closed on November 20, 2025 and was recorded on December 2, 2025. The property has 7,166 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,228 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 May 18, 2018, for $3 million. The signatory for AMAC was Maurice Kaufman . The signatory for EquityMultiple was Marious Sjulsen . The contract date was August 21, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer EquityMultiple had purchased any other properties and has no record it sold any properties over the past 24 months.
The former owner according to the Department of Housing Preservation and Development is Joshua Potash, head officer. The business entity is 207 East 4th Street Owner Llc. The 7,166-square-foot property generated revenue of $410,306 or $57 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 8 residential units in Alphabet City has 7,166 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 24 feet and is 96 feet deep with a total lot size of 2,364 square feet. The zoning is R7B which allows for up to 3 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.9 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 received $1,030 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 block

On this tax block, PincusCo has identified the owners of 22 of the 33 commercial properties representing 357,990 square feet of the 426,799 square feet. The largest owner is Martin Shapiro, followed by Derby Copeland Capital and then Henry Moses Jr..
On the tax block, there were two new building construction projects totaling 10,290 square feet. The largest is a four-unit, 5,188 square-foot residential (R-2) building submitted by Mahnaz Fouladian and filed by Mahnaz Fouladian with plans filed June 27, 2023 and it has not been permitted yet. The second largest is a four-unit, 5,101 square-foot residential (R-2) building submitted by Mahnaz Fouladian and filed by Mahnaz Fouladian with plans filed July 14, 2025 and it has not been permitted yet.

The majority, or 62 percent of the 426,799 square feet of built space are walkup buildings, with elevator buildings next occupying 38 percent of the space.

The seller

The PincusCo database currently indicates that AMAC owned at least six commercial properties with 177 residential units in New York City with 149,794 square feet and a city-determined market value of $36.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 63 percent of the 149,794 square feet of built space are elevator properties, with walkup properties next occupying 37 percent of the space. The bulk, or 60 percent of the built space, is in Manhattan, with Brooklyn next at 40 percent of the space.

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