HUBB NYC pays $6.8M to GAIA Real Estate for 16-unit UWS walkup

HUBB NYC through the entity 12 W. 104th St LLC paid $6.8 million to GAIA Real Estate through the entity 12 West 104 Street Owner LLC for the 16-unit residential walkup building (C4) at 12 West 104th Street in Upper West Side, Manhattan. The expected use is cash flowing.
The deal closed on May 21, 2026 and was recorded on June 8, 2026. The property has 11,265 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $608 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 June 11, 2019, for $8.1 million. The signatory for GAIA Real Estate was Linyun Sun. The signatory for HUBB NYC was John P. McCarthy and Steve Dluzyn . The contract date was April 29, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer HUBB NYC purchased eight properties in seven transactions for a total of $239.8 million and sold eight properties in seven transactions for a total of $34.2 million over the past 24 months.
The seller GAIA Real Estate 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 Yvonne Sun, head officer and Shamicka McKever, site manager. The business entity is 12 West 104 Street Owners Llc. The 11,265-square-foot property generated revenue of $671,390 or $60 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 16 residential units in Upper West Side has 11,265 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 27 feet and is 100 feet deep with a total lot size of 2,725 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. 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 three housing violations and $430 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 13 of the 14 commercial properties representing 268,151 square feet of the 279,151 square feet. The largest owner is Croman Real Estate, followed by Dick Bower and then Pine Management.
There are no active new building construction projects on this tax block.

The majority, or 64 percent of the 279,151 square feet of built space are elevator buildings, with walkup buildings next occupying 31 percent of the space.

The seller

The PincusCo database currently indicates that Gaia Real Estate owned at least eight commercial properties with 172 residential units in New York City with 106,040 square feet and a PincusCo-determined asset value of $98.7 million. The portfolio has $31.5 million in debt, borrowed from Rialto Management Group. Within the portfolio, the bulk, or 84 percent of the 106,040 square feet of built space are walkup properties, with elevator properties next occupying 15 percent of the space.

The buyer

The PincusCo database currently indicates that Hubb Nyc owned at least 80 commercial properties with 1,966 residential units in New York City with 1,737,021 square feet and a PincusCo-determined asset value of $1.3 billion. Within the portfolio, the bulk, or 57 percent of the 1,737,021 square feet of built space are elevator properties, with walkup properties next occupying 20 percent of the space. The bulk, or 63 percent of the built space, is in Manhattan, with Brooklyn next at 36 percent of the space.

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