Komal Bhargava pays $7.8M for 5-unit walkup in West Village

Komal Bhargava through the entity Eli3 LLC paid $7.8 million to Gilda Maria Lavalle Jr. through the entity Lavalle, Gilda Maria Jr for the five-unit residential walkup building (C2) at 241 West 4th Street in West Village, Manhattan. The expected use is cash flowing.
The deal closed on June 11, 2024 and was recorded on October 23, 2024. The property has 4,624 square feet of built space and 2,503 square feet of additional air rights for a total buildable of 7,117 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,695 and the price per buildable square foot is $1,101 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 Gilda Maria Lavalle Jr. was Gilda Maria Lavalle Jr.. The signatory for Komal Bhargava was Komal Bhargava. The contract date was January 30, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Komal Bhargava had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Gilda Maria Lavalle Jr. 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 Gilda Lavalle, individual owner and Jon Badeau, site manager.

The property

The residential walkup building with 5 residential units in West Village has 4,624 square feet of built space and 2,503 square feet of additional air rights for a total buildable of 7,117 square feet according to a PincusCo analysis of city data. The parcel has frontage of 21 feet and is 101 feet deep with a total lot size of 2,069 square feet. The lot is irregular. The zoning is C2-6 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 3.44 times FAR for residential. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $5.1 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 $175 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 12 of the 37 commercial properties representing 120,508 square feet of the 281,411 square feet. The largest owner is Spresa Pejcinovic, followed by S.W. Management and then Mark Kalimian.
There are no active new building construction projects on this tax block.

The majority, or 59 percent of the 281,411 square feet of built space are walkup buildings, with elevator buildings next occupying 22 percent of the space.

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