Ranjana Mehta pays $8M to Black Spruce Management for multifamily property in Chinatown

Ranjana Mehta through the entity 73 Shanthi LLC paid Joshua Gotlib’s Black Spruce Management’s 73 Monroe Holdings LLC $7.9 million for 73 Monroe Street in Chinatown. The deal closed on April 14, 2020, and was recorded on May 4, 2020. The transaction consists of 1 parcel, including the tax class multifamily, old law tenements (C4) and containing 16 residential units. The property is 9,660 square feet. The parcel(s) have total development potential of 12,510 square feet.
The sale price per unit is $492,188.

The sale went into contract November 1, 2019. The last time the property sold was October 30, 2015, when Black Spruce bought it for $3,100,000.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $1,466,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link