Klosed, Namdar pay $26M for five parcels in Midtown West

Klosed Properties and Namdar Realty Group paid $26 million for four parcels in Midtown West in four separate transactions. The buyers borrowed $14.5 million from an entity called Ninth Ave Portfolio Holdings LLC, with an address at a lawfirm.

In the largest purchase, Klosed Properties and Namdar Realty Group through the entity 9th Ave Bh LLC paid $12 million to Sanders Investments through the entity 578 Ninth Avenue Associates, L.L.C. for hotel (H9) at 578 Ninth Avenue in Midtown West, Manhattan.
The deal closed on June 18, 2021 and was recorded on July 13, 2021.
The property has 13,026 square feet of built space and 29,501 square feet of additional air rights for a total buildable of 42,510 square feet according to PincusCo analysis of city data. The sale price per built square foot is $921 and the price per buildable square foot is $282 per the PincusCo analysis.
The owner bought the property on 10-Jan-05, for $51.3 million.
The signatory for Sanders Investments was Martin Sanders. The signatory for Klosed Properties and Namdar Realty Group was Steven Kachanian.

Steven Kachanian is principal of Klosed Properties.
The former owners according to the Department of Housing Preservation and Development includes Martin Sanders, head officer and Joseph Mccarthy, officer. The business entity was 578 Ninth Ave Assoc Llc.

Direct link to Acris document. link

In the second, Klosed Properties and Namdar Realty Group through the entity 9th Ave Bh LLC paid $3.5 million to Sanders Investments through the entity 578 Ninth Avenue Associates, L.L.C. for two-unit mixed-use building (S2) at 576 Ninth Avenue in Midtown West, Manhattan.
The deal closed on June 18, 2021 and was recorded on July 13, 2021.
The property has 5,173 square feet of built space and 7,696 square feet of additional air rights for a total buildable of 12,870 square feet according to PincusCo analysis of city data. The sale price per built square foot is $676 and the price per buildable square foot is $271 per the PincusCo analysis.
The owner bought the property on 10-Jan-05, for $51.3 million.
The signatory for Sanders Investments was Martin Sanders. The signatory for Klosed Properties and Namdar Realty Group was Steven Kachanian.
(103803001)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 2 residential units on August 5, 2013.

Direct link to Acris document. link

In the third, Klosed Properties and Namdar Realty Group through the entity 9th Ave Bh LLC paid $3.5 million to Sanders Investments through the entity Mollaney LLC for six-unit mixed-use building (S5) at 570 Ninth Avenue in Midtown West, Manhattan.
The deal closed on June 18, 2021 and was recorded on July 13, 2021.
The property has 4,492 square feet of built space and 10,244 square feet of additional air rights for a total buildable of 14,740 square feet according to PincusCo analysis of city data. The sale price per built square foot is $779 and the price per buildable square foot is $237 per the PincusCo analysis.
The owner bought the property on 10-Jan-05, for $51.3 million.
The signatory for Sanders Investments was Martin Sanders. The signatory for Klosed Properties and Namdar Realty Group was Steven Kachanian.
One of the projects were to change the number of residential units from 0 to 8.

Direct link to Acris document. link

In the fourth, Klosed Properties and Namdar Realty Group through the entity 9th Ave Bh LLC paid $3.5 million to Sanders Investments through the entity Mollaney LLC for six-unit mixed-use building (S5) at 574 Ninth Avenue in Midtown West, Manhattan.
The deal closed on June 18, 2021 and was recorded on July 13, 2021.
The property has 4,016 square feet of built space and 8,780 square feet of additional air rights for a total buildable of 12,800 square feet according to PincusCo analysis of city data. The sale price per built square foot is $871 and the price per buildable square foot is $273 per the PincusCo analysis.
The owner bought the property on 10-Jan-05, for $51.3 million.
The signatory for Sanders Investments was Martin Sanders. The signatory for Klosed Properties and Namdar Realty Group was Steven Kachanian.
(103803056)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 6 residential units on August 22, 2013.

Direct link to Acris document. link

In the fifth, Klosed Properties and Namdar Realty Group through the entity 9th Ave Bh LLC paid $3.5 million to Sanders Investments through the entity Mollaney LLC for six-unit mixed-use building (S5) at 568 9th Avenue in Midtown West, Manhattan.
The deal closed on June 18, 2021 and was recorded on July 13, 2021.
The property has 4,594 square feet of built space and 10,141 square feet of additional air rights for a total buildable of 14,740 square feet according to PincusCo analysis of city data. The sale price per built square foot is $761 and the price per buildable square foot is $237 per the PincusCo analysis.
The owner bought the property on 10-Jan-05, for $51.3 million.
The signatory for Sanders Investments was Martin Sanders. The signatory for Klosed Properties and Namdar Realty Group was Steven Kachanian.
(103803127)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 6 residential units on August 5, 2013.

Direct link to Acris document. link