Ivan Hakimian’s HPNY pays $4M for 10-unit walkup in East Village

HPNY through the entity HPNY 327 E 10th Street LLC paid $4 million to the estate of Esther Baumrind for the 10-unit residential walkup building (C4) at 327 East 10th Street in East Village, Manhattan. The expected use is cash flowing.
The deal closed on August 7, 2025 and was recorded on August 11, 2025. The property has 6,990 square feet of built space and 2,487 square feet of additional air rights for a total buildable of 9,476 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $572 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 Esther Baumrind was Susan Baumrind Freshman. The signatory for HPNY was Ivan Hakimian . HPNY is also known as Hakimian Properties. The contract date was February 27, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer HPNY purchased one property in one transaction for a total of $15.2 million and has no record it sold any properties over the past 24 months.
The seller Esther Baumrind 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 Susan Freshman, head officer and Kyle Unger, officer. The business entities are Buchbinder & Warren Llc and Ymax Llc.

The property

The residential walkup building with 10 residential units in Alphabet City has 6,990 square feet of built space and 2,487 square feet of additional air rights for a total buildable of 9,476 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 94 feet deep with a total lot size of 2,369 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The property is in the East 10th Street Historic District. The city-designated market value for the property in 2022 is $6.2 million. The property has 3 rent regulated units according to city tax records from 2023.

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 $1,950 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 23 of the 37 commercial properties representing 201,708 square feet of the 312,518 square feet. The largest owner is Dsa Management, followed by Kushner Companies and then Croman Real Estate.
There are no active new building construction projects on this tax block.

The majority, or 84 percent of the 312,518 square feet of built space are walkup buildings, with mixed-use buildings next occupying 11 percent of the space.

The seller

The PincusCo database currently indicates that Esther Baumrind owned at least one commercial property with 10 residential units in New York City with 6,990 square feet and a city-determined market value of $5.4 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.

The buyer

The PincusCo database currently indicates that Hpny owned at least one commercial property with eight residential units in New York City with 7,870 square feet and a city-determined market value of $1.7 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.

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