Harold Harper pays $6.6M for 10-unit walkup in Upper West Side

Harold Harper through the entity Almenaide LLC paid $6.6 million to Stefani Dana-Langel and Monique Dana through the entity 3 West 75th Street Associates LLC for the 10-unit residential walkup building (C1) at 3 West 75th Street in Upper West Side, Manhattan.
The deal closed on May 5, 2023 and was recorded on May 11, 2023. The property has 6,914 square feet of built space and 1,674 square feet of additional air rights for a total buildable of 8,588 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $954 and the price per buildable square foot is $768 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 Stefani Dana-Langel and Monique Dana was Stefani Dana-Langel and Monique Dana. The signatory for Harold Harper was Harold Harper. The buyer may also be affiliated with Alicia Harper.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Harold Harper had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Stefani Dana-Langel 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 Stefani Dana-Langel, head officer and Monique Dana, officer. The business entity is 3 West 75th Street Associates Llc. The 6,914-square-foot property generated revenue of $298,339 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 Upper West Side has 6,914 square feet of built space and 1,674 square feet of additional air rights for a total buildable of 8,588 square feet according to a PincusCo analysis of city data. The parcel has frontage of 21 feet and is 102 feet deep with a total lot size of 2,147 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The property is in the Upper West Side / Central Park West Historic District. The city-designated market value for the property in 2022 is $4.4 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.

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 35 commercial properties representing 214,200 square feet of the 489,245 square feet. The largest owner is Stefani Dana-Langel, followed by Olshan Properties and then Monique Dana.
There are no active new building construction projects on this tax block.

The majority, or 62 percent of the 489,245 square feet of built space are elevator buildings, with walkup buildings next occupying 38 percent of the space.

The seller

The PincusCo database currently indicates that Monique Dana owned at least one commercial property with 10 residential units in New York City with 8,558 square feet and a city-determined market value of $4.7 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Manhattan.
The PincusCo database currently indicates that Stefani Dana-Langel owned at least one commercial property with 10 residential units in New York City with 6,914 square feet and a city-determined market value of $4.4 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Manhattan.

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