Maverick buys $5M note secured by 15-unit West Village walkup in foreclosure

Maverick Real Estate Partners through the entity Hudson Mixed Use LLC bought a note with an original principal of $5 million from Flushing Bank secured by Dror Levy’s 15-unit residential walkup building (C7) at 514 Hudson Street in West Village, Manhattan.
The deal closed on May 19, 2025 and was recorded on June 4, 2025. The prior lender was Flushing Bank which held debt that had an original loan amount of $5 million.The property has 7,106 square feet of built space and 7,723 square feet of additional air rights for a total buildable of 14,843 square feet according to a PincusCo analysis of city data.
The signatory for Dror Levy was Dror Levy.

Prior sales and revenue

The owner according to the Department of Housing Preservation and Development is Dror Levy, head officer. The business entity is Ol Realty Corp. The 7,106-square-foot property generated revenue of $603,963 or $85 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 15 residential units in West Village has 7,106 square feet of built space and 7,723 square feet of additional air rights for a total buildable of 14,843 square feet according to a PincusCo analysis of city data. The parcel has frontage of 47 feet and is 70 feet deep with a total lot size of 4,315 square feet. The zoning is C1-6 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 $3.1 million. The most recent loan totaled $5 million and was provided by Flushing Bank on June 9, 2022. The property has 3 rent regulated units according to city tax records from 2023.

Violations and lawsuits

The property was involved in one lawsuit and zero bankruptcies over the past two years. The suit was a $5 million commercial foreclosure, 850181/2025, concerning a loan, filed on April 14, 2025, by Flushing Bank against Dror Levy. Maverick last month stepped into Flushing’s position in the case. In addition, according to city public data, the property has received $2,500 in ECB penalties, 28 housing violations, and $4,980 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 26 of the 37 commercial properties representing 434,540 square feet of the 526,094 square feet. The largest owner is Bldg Management, followed by Dalan Real Estate and then William Gottlieb Real Estate.
There are no active new building construction projects on this tax block.

The majority, or 52 percent of the 526,094 square feet of built space are walkup buildings, with elevator buildings next occupying 38 percent of the space.

The borrower

The PincusCo database currently indicates that Dror Levy owned at least one commercial property with 15 residential units in New York City with 7,106 square feet and a city-determined market value of $3.4 million. (Market value is typically about 50% of actual value.) The portfolio has $5 million in debt, borrowed from Flushing Bank. The portfolio consists of at least a single walkup property. It is located in Manhattan.

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