Hadi Saleh pays $2.2M for foreclosed retail in Greenwich Village

Hadi Saleh through the entity East 13th Street Retail LLC paid $2.2 million through a real estate owned process to the former bondholders of the trust Series 2019-B10 through the entity Bmark 2019-B10 116 University LLC for the retail condo at 34 East 13th Street at the corner of University Place in Greenwich Village, Manhattan.

The lender foreclosed on the property through the index number 850093/2022, and took it back through an auction on October 25, 2023, that had a judgment of $11.3 million. The former owner was Charles Dubroff of Scottsdale, Arizona.
The deal closed on June 6, 2025 and was recorded on June 11, 2025. The property has 2,652 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $829 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 Series 2019-B10 was Bruce Rickert and Grace E. Bodemuller-Holst . The signatory for Hadi Saleh was Hadi Saleh. The contract date was April 8, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Hadi Saleh had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Series 2019-B10 had not purchased any other properties and had not sold any properties over the same time period.

The property

The retail condo in Greenwich Village has 2,652 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 2,652 square feet. The city-designated market value for the property in 2022 is $5.1 million.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot. On the tax lot, the most recent condominium plan was filed by 116 UNIVERSITY DEVELOPMENT LLC to create 6 residential units and 1 commercial units in a building at 116 University Place in Greenwich Village, Manhattan, called 116 University Place Condominium that has a $39.5 million sellout, according to an March 11, 2016 submission to the New York State Attorney General. The principals of the sponsor, 116 UNIVERSITY DEVELOPMENT LLC, were Ranger Kds 116 Llc, Charles Dubroff, 116 Investors Llc, Ranger Properties Llc, Kd Sagamore Llc, and Sheldon Stein.

The neighborhood

In Greenwich Village, The bulk, or 24 percent of the 22.4 million square feet of commercial built space are specialty buildings, with hotel buildings next occupying 17 percent of the space. In sales, Greenwich Village has the 8th highest sale turnover among other neighborhoods in the city with $1.3 billion in sales volume in the last two years. For development, Greenwich Village has 1.6 times the average amount of major developments relative to other neighborhoods and is the 21st highest in Manhattan. It had 1.9 million 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 14 commercial properties representing 227,715 square feet of the 289,621 square feet. The largest owner is New York University, followed by Pan Am Equities and then Penn South Capital.
On the tax block, there was one new building construction project filed totaling 122,465 square feet. It is a 51-unit, 122,465 square-foot residential (R-2) building submitted by Macklowe Properties and filed by James Migliore with plans filed September 18, 2014 and permitted November 16, 2016.

The majority, or 43 percent of the 289,621 square feet of built space are specialty buildings, with elevator buildings next occupying 35 percent of the space.

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