Japanese firm pays $16.6M for 10-unit walkup in West Village, sold for $12.3M in January 2025

Shinko Co. Ltd through the entity Shinko Co., Ltd. paid $16.6 million to an anonymous owner through the entity 113 East 29 LLC registered with the law firm Belkin Burden Goldman, for the 10-unit residential walkup building (C4) at 194 West 10th Street in West Village, Manhattan. The expected use is cash flowing.
The deal closed on July 24, 2025 and was recorded on August 12, 2025. The property has 9,530 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,741 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 January 31, 2025, for $12.3 million. The signatory for Belkin Burden Goldman Registered was Michael A. Mulia . The signatory for Shinko Co. Ltd was Devin Yasuda . The contract date was January 31, 2025. The seller entity, 113 East 29 LLC, has the D5 Law Office as its New York State corporate registration process address, and the buyer entity, Shinko Co. Ltd., also has the D5 Law Office as its property records care of address. The contract and closing dates for the first sale were January 6, 2025, and January 31, 2025. The contract date for this sale was the same day as the closing for the first sale.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Shinko Co. Ltd purchased one property in one transaction for a total of $16 million and has no record it sold any properties over the past 24 months.
The seller Belkin Burden Goldman Registered purchased one property in one transaction for a total of $12.3 million and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Christian Harker, head officer and Stephanie Knight, agent. The business entities are Choice New York Management and West 10th Street Llc.

The property

The residential walkup building with 10 residential units in West Village has 9,530 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 95 feet deep with a total lot size of 2,407 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 $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 not received any significant violations 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 26 of the 37 commercial properties representing 434,540 square feet of the 526,094 square feet. The largest owner is Bldg Management, followed by Dalan Real Estate and then William Gottlieb Real Estate.
There are no active new building construction projects on this tax block.

The majority, or 52 percent of the 526,094 square feet of built space are walkup buildings, with elevator buildings next occupying 38 percent of the space.

The buyer

The PincusCo database currently indicates that Shinko Co. Ltd owned at least two commercial properties with 30 residential units in New York City with 18,920 square feet and a city-determined market value of $9.3 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Manhattan.

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