Pan Am Equities to add 15 apartments to Greenwich Village rental

The Manocherian family’s Pan Am Equities submitted a major alteration application to add 15 units to the existing 24-unit rental building at 24-26 East 13th Street in Greenwich Village, Manhattan, to result in a total of 39 residential units. The plan was filed on June 8, 2026. It calls for the alteration of uses in the 59-foot-tall, six-story building and was filed with the New York City Department of Buildings under job number M01302381.

The project is described in the filing as: residential conversion on mezzanine, 2nd and 3rd floors as per plans submitted herewith, work includes removal and construction of non-bearing partitions, flooring lighting and ceiling, and replace windows at mezzanine. The applicant is the Registered Architect Frank Denner of Frank Denner Architect. Geoff Ringler of Pan Am Equities submitted the plans.

The apartments will replace space previously occupied by the New York Health & Racquet Club, which closed in 2020, amid the Covid closures. Space on the first floor and lower level will remain a gym or health club use.

The plans call for the lower portion of two duplexes on the mezzanine level, the upper portion of two duplexes on the second floor, along with five other apartments, and eight apartments on the third floor. The other 24 apartments in the building are not altered in this application.

The neighborhood

In Greenwich Village, The bulk, or 24 percent of the 22.4 million square feet of commercial built space are specialty buildings, with hotel buildings next occupying 17 percent of the space. In sales, Greenwich Village has near average sales volume among other neighborhoods with $1.2 billion in sales volume in the last two years and is the 10th highest in Manhattan. For development, Greenwich Village has near average amount of major developments among other neighborhoods and is the 27th highest in Manhattan. It had 1.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of seven of the 14 commercial properties representing 227,715 square feet of the 289,621 square feet. The largest owner is Belkin Burden Goldman Registered , followed by Charles Alpert (271) and then Hubb Nyc .
On the tax block, there was one new building construction project filed totaling 122,465 square feet. It is a 51-unit, 122,465 square-foot residential (R-2) building submitted by Macklowe Properties and filed by James Migliore with plans filed September 18, 2014 and permitted November 16, 2016.

The Owner

Pan Am Equities, according to PincusCo data, owns a $1.4 billion Manhattan-focused portfolio spanning 23 properties, 2.4 million square feet, and 2,330 residential units, ranking 156th by value, 191st by square footage, and 140th by units. The portfolio has $132.3 million in debt issued since 2020, with the top three lenders as People’s United Bank , Bayerische Landesbank , and M&T Bank respectively. Within the portfolio, the bulk, or 99 percent of the 2,295,310 square feet of built space are elevator properties, with walkup properties next occupying 1 percent of the space. They are all located in Manhattan.

The surrounding

Within a 400-foot radius of 26 East 13 Street, PincusCo identified 17 commercial real estate items of interests occurred over the past 24 months.
Of those 17 items, nine were sales above $5 million totaling $174.2 million. The most recent of the nine was Hammock Development which bought one condo unit in the 4,500-square-foot, 27-unit mixed-use building (RM) on 10 East 12th Street for $5.9 million from Stephen L. Green on June 9, 2026.
Of those 17 items, eight were loans above $5 million totaling $148.6 million. The most recent of the eight was 12 East 12th LLC in which borrowed $6.2 million from Symetra Life Insurance Company An Iowa Corporation secured by one condo unit in the 4,500-square-foot, 27-unit mixed-use building (RM) on 10 East 12th Street on June 9, 2026.

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