Moise Mizrahi pays $6M for 13-unit walkup in Upper West Side

Moise Mizrahi through the entity 46 W 87th Street LLC paid $6 million to Jill Drachman through the entity Jbg LLC D/B/A JBG Family LLC for the 13-unit residential walkup building (C5) at 46 West 87th Street in Upper West Side, Manhattan.
The deal closed on November 2, 2023 and was recorded on November 9, 2023. The property has 8,861 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $677 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 seller bought the property on September 1, 2009, for $4.9 million. The signatory for Jill Drachman was Jill Drachman. The signatory for Moise Mizrahi was Moise Mizrahi. The contract date was October 2, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Moise Mizrahi had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Jill Drachman 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 Jill Drachman, head officer and Jaclyn Greenfield, officer. The business entity is Stylebuilt Accesories, Inc/Jbg, Llc.

The property

The residential walkup building with 13 residential units in Upper West Side has 8,861 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 23 feet and is 100 feet deep with a total lot size of 2,315 square feet. The zoning is R7-2 which allows for up to 3.44 times floor area ratio (FAR) for residential. The property is in the Upper West Side / Central Park West Historic District. The city-designated market value for the property in 2022 is $2.6 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 not received any significant violations 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 15 of the 29 commercial properties representing 539,890 square feet of the 763,149 square feet. The largest owner is Weinreb Management, followed by Steven Albert and then Rudin Management.
There are no active new building construction projects on this tax block.

The majority, or 77 percent of the 763,149 square feet of built space are elevator buildings, with walkup buildings next occupying 22 percent of the space.

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