Former 10-unit walkup in Gramercy sold for $8M as single-family

The entity House 19 LLC paid $8 million for the formerly 10-unit residential walkup building (C5) at 120 East 19th Street in Gramercy, Manhattan. The building is now a single-family home.
The deal closed on June 13, 2025 and was recorded on June 20, 2025. The property has 7,500 square feet of built space and 1,702 square feet of additional air rights for a total buildable of 9,200 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,066 and the price per buildable square foot is $869 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.)

Prior sales and revenue

The former owners according to the Department of Housing Preservation and Development included Steven Saide, joint owner and Steven Brown, joint owner. The 7,500-square-foot property generated revenue of $391,650 or $52 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 10 residential units in Gramercy has 7,500 square feet of built space and 1,702 square feet of additional air rights for a total buildable of 9,200 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 92 feet deep with a total lot size of 2,300 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $3.5 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 $50 in OATH penalties in the last year.

The block

On this tax block, PincusCo has identified the owners of six of the 26 commercial properties representing 80,804 square feet of the 836,416 square feet. The largest owner is Ditmas Management Corp., followed by S.W. Management and then Sabet Group.
There are no active new building construction projects on this tax block.

The majority, or 78 percent of the 836,416 square feet of built space are office buildings, with elevator buildings next occupying 9 percent of the space.

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