Investor pays $7M to HUBB NYC for mixed-use in West Village

Investor Michael P. Higgins through the entity 304 Bleecker LLC paid $7 million to HUBB NYC through the entity 304 Bleecker Trevi LLC for the three-unit mixed-use building (S3) at 304 Bleecker Street in the West Village, Manhattan. The expected use is cash flowing.
The deal closed on January 21, 2026 and was recorded on January 29, 2026. The property has 3,965 square feet of built space and 1,741 square feet of additional air rights for a total buildable of 5,706 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,765 and the price per buildable square foot is $1,226 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 March 1, 2012, for $5.8 million. The signatory for HUBB NYC was John P. McCarthy and Steve Dluzyn . The signatory for Michael P. Higgins  was Michael P. Higgins. The contract date was October 23, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Michael P. Higgins purchased one property in one transaction for a total of $8 million and has no record it sold any properties over the past 24 months.
The seller HUBB NYC purchased five properties in five transactions for a total of $193.3 million and sold five properties in four transactions for a total of $28.4 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes John McCarthy, head officer and Thomas Grabski, site manager. The business entities are HUBB NYC Property Management and 304 Bleecker Trevi LLC.

The property

The mixed-use building with 3 residential units in West Village has 3,965 square feet of built space and 1,741 square feet of additional air rights for a total buildable of 5,706 square feet according to a PincusCo analysis of city data. The parcel has frontage of 19 feet and is 80 feet deep with a total lot size of 1,659 square feet. The lot is irregular. The zoning is C2-6 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 3.44 times FAR for residential. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $4.6 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 $1,075 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial rehab certificate of occupancy on March 13, 2019. 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 West Village, The bulk, or 31 percent of the 10.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 27 percent of the space. In sales, West Village has 2.6 times the average sales volume among other neighborhoods with $856.9 million in sales volume in the last two years and is the 13th highest in Manhattan. For development, West Village has had very little major development activity relative to other neighborhoods.It had 951,392 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. There were two pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of 19 of the 39 commercial properties representing 244,973 square feet of the 344,326 square feet. The largest owner is Croman Real Estate, followed by Gilman Management and then Abner Ohebshalom.
There are no active new building construction projects on this tax block.

The majority, or 54 percent of the 344,326 square feet of built space are walkup buildings, with elevator buildings next occupying 29 percent of the space.

The seller

The PincusCo database currently indicates that HUBB NYC owned at least 59 commercial properties with 1,698 residential units in New York City with 1,325,762 square feet and a city-determined market value of $435.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 72 percent of the 1,325,762 square feet of built space are elevator properties, with walkup properties next occupying 26 percent of the space. The bulk, or 57 percent of the built space, is in Manhattan, with Brooklyn next at 43 percent of the space.

The buyer

The PincusCo database currently indicates that Michael P. Higgins owned at least two commercial properties with 20 residential units in New York City with 12,840 square feet and a city-determined market value of $5.8 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 74 percent of the 12,840 square feet of built space are walkup properties, with mixed-use properties next occupying 26 percent of the space. They are all located in Manhattan.

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