Mixed-use in Two Bridges sells for $4.6M

The entity Trim Tab Studios LLC registered with the law firm Colbert Law, paid $4.6 million to the entity 51 Market Street Landmark Corp. for the six-unit mixed-use building (S5) at 51 Market Street in Two Bridges, Manhattan.
The deal closed on May 28, 2026 and was recorded on June 17, 2026. The property has 5,980 square feet of built space and 2,120 square feet of additional air rights for a total buildable of 8,104 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $773 and the price per buildable square foot is $570 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 signatories for the late Dianne DeRouche and Alain Sinturel were Alain Sinturel, Marjorie Saunders, and Kerry Archer . The contract date was February 9, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Colbert Law registered had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Dianne DeRouche had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Alain Sinturel, head officer. The business entity is 51 Market Street Landmark Corporation.

The property

The mixed-use building with 6 residential units in Two Bridges has 5,980 square feet of built space and 2,120 square feet of additional air rights for a total buildable of 8,104 square feet according to a PincusCo analysis of city data. The parcel has frontage of 27 feet and is 90 feet deep with a total lot size of 2,356 square feet. The zoning is R7-2 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.1 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 $1,550 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 neighborhood

In Two Bridges, The majority, or 61 percent of the 4.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 19 percent of the space. In sales, Two Bridges has the 42nd highest sale turnover among other neighborhoods in Manhattan with $9.9 million in sales volume in the last two years. For development, Two Bridges has had very little major development activity relative to other neighborhoods.It had 23,617 square feet of commercial and multi-family construction under development in the last two years, which represents 0.54 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of seven of the 41 commercial properties representing 60,450 square feet of the 362,560 square feet. The largest owner is Yat Sun Poon, followed by Chu Lai Fong and then Yan Harry.
There are no active new building construction projects on this tax block.

The majority, or 90 percent of the 362,560 square feet of built space are walkup buildings, with mixed-use buildings next occupying 8 percent of the space.

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