Japanese firm pays $4.5M for 9-unit walkup in East Village

The Japanese company Marukawa Kabushikikaisha paid $4.5 million to David Gomez through the entity 216 E 13th St Owner LLC for the nine-unit residential walkup building (C5) at 216 East 13th Street in East Village, Manhattan. The expected use is cash flowing.
The deal closed on December 19, 2025 and was recorded on January 8, 2026. The property has 3,416 square feet of built space and 2,976 square feet of additional air rights for a total buildable of 6,400 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,317 and the price per buildable square foot is $703 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 May 29, 2025, for $2.8 million. The signatory for David Gomez was Ryan Forman . The signatory for Marukawa Kabushikikaisha was Paul Kim and Setsuko Ono. The contract date was October 16, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Marukawa Kabushikikaisha had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller David Gomez purchased two properties in two transactions for a total of $7.9 million and had not sold any properties over the same time period.

The property

The residential walkup building with 9 residential units in East Village has 3,416 square feet of built space and 2,976 square feet of additional air rights for a total buildable of 6,400 square feet according to a PincusCo analysis of city data. The parcel has frontage of 15 feet and is 103 feet deep with a total lot size of 1,600 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.6 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 $7,930 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 14 of the 23 commercial properties representing 280,979 square feet of the 367,308 square feet. The largest owner is Manocherian Brothers, followed by Croman Real Estate and then Stellar Management.
There are no active new building construction projects on this tax block.

The majority, or 55 percent of the 367,308 square feet of built space are walkup buildings, with elevator buildings next occupying 39 percent of the space.

The seller

The PincusCo database currently indicates that David Gomez owned at least three commercial properties with 19 residential units in New York City with 23,378 square feet and a city-determined market value of $6.1 million. (Market value is typically about 50% of actual value.) The portfolio has $5.7 million in debt, borrowed from Webster Bank. Within the portfolio, the bulk, or 54 percent of the 23,378 square feet of built space are walkup properties, with hotel properties next occupying 46 percent of the space. The bulk, or 61 percent of the built space, is in Manhattan, with Brooklyn next at 39 percent of the space.

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