One residential sale above $10 million, totaling $12.5 million, recorded October 11, 2023

A buyer paid $12.5 million to the seller for the two-unit townhouse building (B9) at 12 West 95th Street in the Upper West Side, Manhattan.
The deal closed on September 28, 2023 and was recorded on October 10, 2023. The property has 4,709 square feet of built space and 1,879 square feet of additional air rights for a total buildable of 6,597 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $2,654 and the price per buildable square foot is $1,894 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 property

The 1-4 family building with 2 residential units in Upper West Side has 4,709 square feet of built space and 1,879 square feet of additional air rights for a total buildable of 6,597 square feet according to a PincusCo analysis of city data. The parcel has frontage of 19 feet and is 100 feet deep with a total lot size of 1,918 square feet. The lot is irregular. 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 $6.3 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 seven of the 24 commercial properties representing 722,501 square feet of the 815,400 square feet. The largest owner is Weinreb Management, followed by Lefrak and then Joseph Braun.
There are no active new building construction projects on this tax block.

The majority, or 86 percent of the 815,400 square feet of built space are elevator buildings, with walkup buildings next occupying 14 percent of the space.

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