Ira Saferstein pays $13.65M for four UWS walkups

Ira Saferstein paid $13.65 million to Jack Roitman for four walkup buildings in the Upper West Side with a total of 46 units at 13 to 15 West 82nd Street, 153 West 74th Street and 114 West 74th Street in four separate transactions.

The purchase was financed with a $10 million loan from Flagstar Bank.

In the first, Ira E. Saferstein through the entity Uws Portfolio, LLC paid $3.5 million to Jack Roitman through the entity Jjr1315, LLC for the 13-unit residential walkup building (C5) at 15 West 82nd Street in Upper West Side, Manhattan.
The deal closed on January 23, 2024 and was recorded on January 29, 2024. The property has 6,840 square feet of built space and 2,561 square feet of additional air rights for a total buildable of 9,400 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $519 and the price per buildable square foot is $377 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.)

Ira E. Saferstein through the entity Uws Portfolio, LLC paid $3.5 million to Jack Roitman through the entity Jjr1315, LLC for the 13-unit residential walkup building (C5) at 13 West 82nd Street in Upper West Side, Manhattan. The deal closed on January 23, 2024 and was recorded on January 29, 2024. The property has 7,183 square feet of built space and 2,209 square feet of additional air rights for a total buildable of 9,400 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $494 and the price per buildable square foot is $377 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.)

Ira E. Saferstein through the entity Uws Portfolio, LLC paid $3.3 million to Jack Roitman through the entity Arbel Properties LLC for the 10-unit residential walkup building (C1) at 153 West 74th Street in Upper West Side, Manhattan. The deal closed on January 23, 2024 and was recorded on January 29, 2024. The property has 5,903 square feet of built space and 2,681 square feet of additional air rights for a total buildable of 8,580 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $554 and the price per buildable square foot is $381 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.)

Ira E. Saferstein through the entity Uws Portfolio, LLC paid $3.3 million to Jack Roitman through the entity Lorent Realty LLC for the 10-unit residential walkup building (C1) at 114 West 74th Street in Upper West Side, Manhattan. The deal closed on January 23, 2024 and was recorded on January 29, 2024. The property has 6,265 square feet of built space and 1,493 square feet of additional air rights for a total buildable of 7,760 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $522 and the price per buildable square foot is $422 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 Jack Roitman was Jack Roitman. The signatory for Ira E. Saferstein was Ira E. Saferstein. The contract date was September 21, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Ira E. Saferstein had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Jack Roitman had not purchased any other properties and sold one property in one transaction for a total of $4.5 million over the same time period. The former owner according to the Department of Housing Preservation and Development is Jack Roitman, head officer. The business entity is Jjr1315, Llc.

The property

The residential walkup building with 13 residential units in Upper West Side has 6,840 square feet of built space and 2,561 square feet of additional air rights for a total buildable of 9,400 square feet according to a PincusCo analysis of city data. The parcel has frontage of 23 feet and is 102 feet deep with a total lot size of 2,350 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 $1.8 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 31 commercial properties representing 175,124 square feet of the 271,494 square feet. The largest owner is Sophia Magnone, followed by Russell Harkavy and then Robert Pincow.
There are no active new building construction projects on this tax block.

The majority, or 90 percent of the 271,494 square feet of built space are walkup buildings, with elevator buildings next occupying 10 percent of the space.

The seller

The PincusCo database currently indicates that Jack Roitman owned at least four commercial properties with 46 residential units in New York City with 26,191 square feet and a city-determined market value of $11.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Manhattan.

Direct link to Acris document. link