Klosed, Namdar pay $15.5M to Impulsive Group for UWS hotel

Klosed Properties and Namdar Realty Group through the entity 2651 Broadway BH LLC (and others) paid $15.5 million to Impulsive Group through the entity Helms Realty Corp. for hotel (H3) at 2651 Broadway in Upper West Side, Manhattan.
Namdar has recorded at least 13 transactions totaling $209 million since July 2019, according to PincusCo data.
The deal closed on November 17, 2021 and was recorded on December 7, 2021.
The property has 36,730 square feet of built space and 8,400 square feet of additional air rights for a total buildable of 45,120 square feet according to PincusCo analysis of city data. The sale price per built square foot is $421 and the price per buildable square foot is $343 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 Impulsive Group was Hank Freid. The signatory for Klosed Properties and Namdar Realty Group was Steven Kashanian.
The sale was brokered by Avison Young’s James Nelson, Brandon Polakoff, Mitchell Levine and Alexandra Marolda.

The former owners according to the Department of Housing Preservation and Development included Glenn Westerlind, head officer and Vivita Bettina, officer. The business entity is Helms Realty Corp.

Within a 400-foot radius of 2651 Broadway, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, two were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $3.1 million. The most recent of these two items was the filing on June 2, 2020 for a 10,270-square-foot M building with no residential units at 2626 Broadway.
One of those three items was a loan which Argo Real Estate borrowed $10 million from Apple Bank for Savings secured by the 259,607-square-foot, 176-unit rental (D6) on 2644 Broadway on October 14, 2021.

Direct link to Acris document. link