J.T. Magen and Co. pays $10.2M to long-time owners for 8-unit walkup in West Village

J.T. Magen and Company through the entity Jane St Garden LLC paid $10.2 million to the entity 80 Horatio St. Corp. for the eight-unit residential walkup building (C4) at 80 Horatio Street in West Village, Manhattan. The expected use is cash flowing.
The deal closed on October 8, 2025 and was recorded on October 20, 2025. The property has 6,133 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,671 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 Patrick Monahan was Patrick Monahan. The signatory for J.T. Magen and Company was Maurice Regan . The contract date was September 19, 2025. The family acquired the building in March 1976, through Matthew Chirichella and Marshall Levine’s purchase at that time.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer J.T. Magen and Company had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Patrick Monahan had not purchased any other properties and had not sold any properties over the same time period.

The property

The residential walkup building with 8 residential units in West Village has 6,133 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 24 feet and is 87 feet deep with a total lot size of 2,145 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $7.2 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 four of the six commercial properties representing 161,031 square feet of the 194,989 square feet. The largest owner is Rockrose Development, followed by Jk Hotel Group and then Matthew Chirichella.
There are no active new building construction projects on this tax block.

The majority, or 57 percent of the 194,989 square feet of built space are elevator buildings, with hotel buildings next occupying 22 percent of the space.

The buyer

The PincusCo database currently indicates that J.T. Magen and Company owned at least one commercial property with three residential units in New York City with 4,056 square feet and a city-determined market value of $15.5 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single C0 property. It is located in Manhattan.

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