Izaki Group pays $46M to Duell family for six properties in Manhattan

Izaki Group Investments through the entity 525 6th Ave LLC paid $46 million to the Duell family through the entity 100-106 LLC for mixed-use building (K4) at 104 West 14th Street in Greenwich Village, Manhattan, office building (O5) at 527 Avenue Of The Americas in Manhattan, and three-unit mixed-use building (K4) at 525 Avenue Of The Americas in Greenwich Village, Manhattan.
The deal closed on December 15, 2021 and was recorded on December 29, 2021.
The six properties have 41,068 square feet of built space and 48,932 square feet of additional air rights for a total buildable of 90,003 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,120 and the price per buildable square foot is $511 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 Duell family was Andrew J. Duell. The signatory for Izaki Group Investments was Eldad Blaustein.

Eldad Blaustein is CEO of IGI US.

Within a 400-foot radius of 104 West 14th Street, PincusCo identified 13 commercial real estate items of interests occurred over the past 24 months.
Of those 13 items, one was in new building development. It was a new building permit issued on March 5, 2020 for a 63,248-square-foot R-2 building with 50 residential units at 530 6th Avenue.
Of those 13 items, two were for major renovation including a certificate of occupancy change. They were one permit applications with a total initial cost of $2.5 million and one permit with a total initial cost of $292,600. The most recent of these two items was the filing on December 8, 2021 for a 27,872-square-foot R-2 building with seven residential units at 118 West 13th Street.
Of those 13 items, three were sales above $5 million totaling $55.4 million. The most recent of the three was Slate Property Group which bought the 28,516-square-foot, two-unit dormitory (H8) on 116 West 13th Street for $22.8 million from The New School on September 17, 2021.
Of those 13 items, seven were loans above $5 million totaling $106.6 million. The most recent of the seven was Vrahos LLC which borrowed $9.4 million from New York Community Bank secured by the 6,860-square-foot, two-unit retail building (K1) on 502 Avenue Of The Amer and three other properties on October 12, 2021.

Direct link to Acris document. link