Gorjian Real Estate Group pays $4.4M for 12-unit walkup in Upper West Side

Gorjian Real Estate Group through the entity GG 463 Columbus LLC paid $4.4 million to Jeffrey Reingold and Stephanie Reingold through the entity 463 Columbus Ave, Corp. for the 12-unit residential walkup building (C7) at 463 Columbus Avenue in Upper West Side, Manhattan. The expected use is cash flowing.
The deal closed on July 21, 2025 and was recorded on July 31, 2025. The property has 10,065 square feet of built space and 8,859 square feet of additional air rights for a total buildable of 18,927 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $437 and the price per buildable square foot is $232 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 Jeffrey Reingold and Stephanie Reingold was Jeffrey Reingold and Stephanie Reingold. The signatory for Gorjian Real Estate Group was Cobby Gorjian . The contract date was February 27, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Gorjian Real Estate Group purchased three properties in three transactions for a total of $22.9 million and has no record it sold any properties over the past 24 months.
The seller Jeffrey Reingold had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Stephanie Reingold, head officer and Eric Porco, site manager. The business entity is 463 Columbus Avenue Corp. The 10,065-square-foot property generated revenue of $737,161 or $73 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 12 residential units in Upper West Side has 10,065 square feet of built space and 8,859 square feet of additional air rights for a total buildable of 18,927 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,517 square feet. The zoning is C1-8A which allows for up to 2 times floor area ratio (FAR) for commercial and up to 7.52 times FAR for residential with inclusionary housing. The property is in the Upper West Side / Central Park West Historic District. The city-designated market value for the property in 2022 is $3.5 million. The property has 4 rent regulated units according to city tax records from 2023.

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 20 of the 31 commercial properties representing 175,124 square feet of the 271,494 square feet. The largest owner is Larry Tauber, followed by James Nicholson and then Abro Management.
There are no active new building construction projects on this tax block.

The majority, or 90 percent of the 271,494 square feet of built space are walkup buildings, with elevator buildings next occupying 10 percent of the space.

The buyer

The PincusCo database currently indicates that Gorjian Real Estate Group owned at least 11 commercial properties with 126 residential units in New York City with 257,736 square feet and a city-determined market value of $82.5 million. (Market value is typically about 50% of actual value.) The portfolio has $12 million in debt, borrowed from Citibank. Within the portfolio, the bulk, or 48 percent of the 257,736 square feet of built space are office properties, with walkup properties next occupying 32 percent of the space. They are all located in Manhattan.

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