Orbach Group sells UWS rental for $4.5M, 39% below 2016 price

Black Spruce Management through the entity HP Morningside Heights Portfolio Housing paid Orbach Group’s 955 Amsterdam Holdings LLC $4.6 million for 955 Amsterdam Avenue in the Upper West Side. The deal closed on September 23, 2020, and was recorded on October 27, 2020. The transaction consists of 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 13 residential units. The property is 11,110 square feet. The parcel(s) have total development potential of 15,060 square feet.
The sale price per unit is $350,886..

The building sold for 39 percent below its 2016 sale price of $7.5 million. The contract date was January 17, 2020. The signatory for the seller was Meyer Orbach and for the buyer Joshua Gotlib. The last time the property sold was September 19, 2016, for $7,500,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $135,200.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Joshua Gotlib