Roberto Diliberto pays $4.4M for 8-unit walkup in Upper West Side

Roberto Diliberto through the entity 167 West 87th LLC paid $4.4 million to Thomas R. Donnelly through the entity 167 W LLC for the eight-unit residential walkup building (C1) at 167 West 87th Street in Upper West Side, Manhattan.
The deal closed on July 18, 2023 and was recorded on July 31, 2023. The property has 4,076 square feet of built space and 2,156 square feet of additional air rights for a total buildable of 6,233 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,084 and the price per buildable square foot is $709 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 signatory for Thomas R. Donnelly was Thomas R. Donnelly. The signatory for Roberto Diliberto was Roberto Diliberto. The contract date was March 13, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Roberto Diliberto had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Thomas R. Donnelly 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 Thomas Donnelly, head officer and Brendan Donnelly, officer. The business entity is 167 W Llc.

The property

The residential walkup building with 8 residential units in Upper West Side has 4,076 square feet of built space and 2,156 square feet of additional air rights for a total buildable of 6,233 square feet according to a PincusCo analysis of city data. The parcel has frontage of 18 feet and is 100 feet deep with a total lot size of 1,812 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 $2.1 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 five of the 13 commercial properties representing 348,432 square feet of the 375,624 square feet. The largest owner is Wayne Caputo, followed by Leeds Associates and then Jonathan Ostrow.
On the tax block, there was one new building construction project filed totaling 3,821 square feet. It is a one-unit, 3,821 square-foot residential (R-3) building submitted by Sonny Bazbaz with plans filed November 14, 2013 and it has not been permitted yet.

The majority, or 87 percent of the 375,624 square feet of built space are elevator buildings, with walkup buildings next occupying 12 percent of the space.

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