Family office pays $5.5M for Roy Lichtenstein garage in West Village

The family office Athena Group Advisors, through the entity Whaam-Nomad LLC, paid $5.5 million to the estate of the widow of the late pop artists, Roy Lichtenstein, for the garage building (G1) at 747 Washington Street in the West Village, Manhattan.
The deal closed on March 13, 2025 and was recorded on March 18, 2025. The property has 2,052 square feet of built space and 6,156 square feet of additional air rights for a total buildable of 8,208 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $2,680. (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 Athena Group was an attorney, Andrew N. Cutler . The contract date was November 22, 2024. Dorothy Lichtenstein, who died last summer, was the widow of the late pop artist Roy Lichtenstein.  Whaam is a famous painting by Roy Lichtenstein. “Athena Group Advisors is RTW’s family office” according to the website for the hedge fund RTW Investments. Abutting the building to the south is the former home of the Lichtensteins, which is now owned by the Whitney Museum of Art.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Athena Group had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Dorothy Lichtenstein had not purchased any other properties and had not sold any properties over the same time period.

The property

The industrial building in West Village has 2,052 square feet of built space and 6,156 square feet of additional air rights for a total buildable of 8,208 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 100 feet deep with a total lot size of 2,052 square feet. The zoning is C1-6A which allows for up to 2 times floor area ratio (FAR) for commercial and up to 4 times FAR for residential with inclusionary housing. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $478,000.

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 neighborhood

In West Village, The bulk, or 31 percent of the 10.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 27 percent of the space. In sales, West Village has 2.8 times the average sales volume among other neighborhoods with $757.8 million in sales volume in the last two years and is the 14th highest in Manhattan. For development, West Village has had very little major development activity relative to other neighborhoods.It had 947,107 square feet of commercial and multi-family construction under development in the last two years, which represents 9 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of seven of the 11 commercial properties representing 111,868 square feet of the 154,944 square feet. The largest owner is Stonehenge Nyc, followed by Joseph Jackson and then William Gottlieb Real Estate.
There are no active new building construction projects on this tax block.

The majority, or 69 percent of the 154,944 square feet of built space are elevator buildings, with walkup buildings next occupying 27 percent of the space.

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