Home care agency pays $6.5M for retail in Washington Heights

The home care agency Friends & Family Home Care Services through the entity 512 West 181 Street LLC paid $6.5 million to Salvatore DiCarlo through the entity Heights Of Main Street, Inc for the retail building (K4) at 512 West 181st Street in Washington Heights, Manhattan. The expected use is owner-occupied. The buyer already occupies the location, according to its website.
The deal closed on March 19, 2026 and was recorded on April 7, 2026. The property has 20,800 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $312 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 seller bought the property on January 8, 2021, for $6 million. The signatory for Salvatore DiCarlo was Salvatore DiCarlo. The signatory for Friends & Family Home Care Services was Yelena Schmidt. The contract date was January 12, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Friends & Family Home Care Services had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Salvatore DiCarlo had not purchased any other properties and had not sold any properties over the same time period.

The property

The retail building in Washington Heights has 20,800 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 45 feet and is 119 feet deep with a total lot size of 5,378 square feet. The zoning is C8-3 which allows for up to 2 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $2.7 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 $1,630 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 neighborhood

In Washington Heights, The bulk, or 45 percent of the 66 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 27 percent of the space. In sales, Washington Heights has 1.5 times the average sales volume among other neighborhoods with $488.6 million in sales volume in the last two years and is the 23rd highest in Manhattan. For development, Washington Heights has 1.2 times the average amount of major developments relative to other neighborhoods and is the 22nd highest in Manhattan. It had 2 million square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 15 of the 29 commercial properties representing 284,814 square feet of the 700,876 square feet. The largest owner is Port Authority Of New York And New Jersey, followed by Salvatore Dicarlo and then Avery Management.
On the tax block, there was one new building construction project filed totaling 213,822 square feet. It is a 221-unit, 213,822 square-foot business (B) building submitted by Youngwoo & Associates and filed by Margarette Lee with plans filed May 18, 2016 and permitted January 4, 2019.

The majority, or 51 percent of the 700,876 square feet of built space are office buildings, with walkup buildings next occupying 38 percent of the space.

The seller

The PincusCo database currently indicates that Salvatore Dicarlo owned at least one commercial property in New York City with 61,602 square feet and a city-determined market value of $10.3 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single office property. It is located in Manhattan.

Direct link to Acris document. link