Javeri Capital pays $11.4M for 7-unit rental in Nolita

Javeri Capital through the entity 196 Bowery Owner LLC paid $11.4 million to the entity Bowery Square Corp. for the seven-unit residential elevator building (D6) at 196 Bowery in Nolita, Manhattan. The expected use is cash flowing.
The deal closed on May 26, 2026 and was recorded on June 4, 2026. The property has 15,128 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $753 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 signatories for the sellers were  for Kai Hi Fung, Kin Yee Wong, and Kin Chi Au. The signatory for Javeri Capital was Atit Javeri . The contract date was January 27, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Javeri Capital had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Kai Hi Fung 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 Kin Wong, head officer and Kin Au, officer. The business entity is Bowery Square Corporation.

The property

The residential elevator building with 7 residential units in Nolita has 15,128 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,489 square feet. The zoning is C6-1 which allows for up to 6 times floor area ratio (FAR) for commercial and up to 3.44 times FAR for residential. The property has a 421A exemption that started in 2012 and expires in 2022. The city-designated market value for the property in 2022 is $12.5 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 $300 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 22 commercial properties representing 195,181 square feet of the 289,314 square feet. The largest owner is S.W. Management, followed by RFR Holding and then Kin Wong.
There are no active new building construction projects on this tax block.

The majority, or 31 percent of the 289,314 square feet of built space are walkup buildings, with mixed-use buildings next occupying 22 percent of the space.

The buyer

The PincusCo database currently indicates that Javeri Capital owned at least seven commercial properties with 30 residential units in New York City with 60,177 square feet and a PincusCo-determined asset value of $68 million. The portfolio has $58.3 million in debt, with top three lenders as Bank of Montreal, Maxim Credit Group, and A10 Capital respectively. Within the portfolio, the bulk, or 32 percent of the 60,177 square feet of built space are elevator properties, with condo properties next occupying 27 percent of the space.

Direct link to Acris document. link