Gorjian Real Estate pays $2.7M for 10-unit walkup in Little Italy

Gorjian Real Estate Group through the entity GG 171 Mott LLC paid $2.7 million to Jonely Moy through the entity Disau LLC for the 10-unit residential walkup building (C7) at 171 Mott Street in Little Italy, Manhattan. The expected use is cash flowing.
The deal closed on August 4, 2025 and was recorded on August 7, 2025. The property has 8,391 square feet of built space and 4,242 square feet of additional air rights for a total buildable of 12,642 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $324 and the price per buildable square foot is $215 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 Jonely Moy was Jonely Moy. The contract date was June 25, 2025. The property is on the Gorjian website, here.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Gorjian Real Estate Group purchased four properties in four transactions for a total of $27.2 million and has no record it sold any properties over the past 24 months.
The seller Jonely Moy 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 Sau Kuen Moy, head officer and Jonely Moy, site manager. The business entity is Disau Llc. The 8,391-square-foot property generated revenue of $360,393 or $43 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 10 residential units in Little Italy has 8,391 square feet of built space and 4,242 square feet of additional air rights for a total buildable of 12,642 square feet according to a PincusCo analysis of city data. The parcel has frontage of 42 feet and is 50 feet deep with a total lot size of 2,100 square feet. The lot is irregular. The city-designated market value for the property in 2022 is $1.8 million. The property has 9 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 received $100 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 14 of the 39 commercial properties representing 207,198 square feet of the 425,546 square feet. The largest owner is Gordon Chin, followed by Lisa Janowski-Goode and then Miriam Sharifian.
There are no active new building construction projects on this tax block.

The majority, or 53 percent of the 425,546 square feet of built space are walkup buildings, with mixed-use buildings next occupying 24 percent of the space.

The buyer

The PincusCo database currently indicates that Gorjian Real Estate Group owned at least 12 commercial properties with 138 residential units in New York City with 267,801 square feet and a city-determined market value of $85.5 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 46 percent of the 267,801 square feet of built space are office properties, with walkup properties next occupying 34 percent of the space. They are all located in Manhattan.

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