Migdal Management pays $3.2M for 20-unit walkup in Hell’s Kitchen

Migdal Management through the entity Migdal19 Management 2010 LLC paid $3.2 million to Bruce Haley through the entity 324 West 43rd St., LLC for the 20-unit residential walkup building (C4) at 324 West 43rd Street in Hell’s Kitchen, Manhattan. The expected use is cash flowing.
The deal closed on August 28, 2025 and was recorded on September 9, 2025. The property has 9,660 square feet of built space and 5,446 square feet of additional air rights for a total buildable of 15,110 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $336 and the price per buildable square foot is $215 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 Bruce Haley was Bruce Haley. The signatory for Migdal Management was Roni Abudi . The contract date was July 3, 2025. Bruce Haley bought the property in 1979.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Migdal Management purchased three properties in two transactions for a total of $11.1 million and has no record it sold any properties over the past 24 months.
The seller Bruce Haley had not purchased any other properties and sold six properties in five transactions for a total of $30.8 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Bruce Haley, head officer and Gustavo Almonte, site manager. The business entity is 324 West 43rd Street Llc. The 9,660-square-foot property generated revenue of $516,822 or $54 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 20 residential units in Hell’s Kitchen has 9,660 square feet of built space and 5,446 square feet of additional air rights for a total buildable of 15,110 square feet 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 2,510 square feet. The zoning is C6-2 which allows for up to 6 times floor area ratio (FAR) for commercial and up to 6.02 times FAR for residential. The city-designated market value for the property in 2022 is $3.1 million. The property has 18 rent regulated units according to city tax records from 2023.

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 $80 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 10 of the 18 commercial properties representing 548,649 square feet of the 762,414 square feet. The largest owner is Bernard Friedman, followed by Brodsky Organization and then Wharton Properties.
On the tax block, there was one new building construction project filed totaling 294,761 square feet. It is a 321-unit, 294,761 square-foot residential (R-2) building submitted by Taconic Partners and filed by Colleen Wenke with plans filed March 9, 2020 and permitted May 24, 2022.

The majority, or 72 percent of the 762,414 square feet of built space are elevator buildings, with office buildings next occupying 16 percent of the space.

The buyer

The PincusCo database currently indicates that Migdal Management owned at least three commercial properties with 49 residential units in New York City with 22,345 square feet and a city-determined market value of $5.7 million. (Market value is typically about 50% of actual value.) The portfolio has $5.3 million in debt, borrowed from JPMorgan Chase. Within the portfolio, all identified are walkup properties. They are all located in Manhattan.

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