Rosalind Resnick sells Greenwich Village townhouse for $7.8M

An entity in care of the real estate development firm the Beechwood Organization, called 122 Washington LLC, paid $7.8 million to Rosalind Resnick through the entity 122 Washington Place LLC for the two-unit townhouse (B1) at 122 Washington Place in Greenwich Village, Manhattan. The property has an alternate address of 122 West Washington Place.
Rosalind Resnick produced a full-length romantic comedy called Townhouse Confidential that feature this property. The building was listed on StreetEasy as a potential single-family or two-family.
The deal closed on June 12, 2023 and was recorded on June 15, 2023. The property has 3,168 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $2,446 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 seller bought the property on November 20, 2009, for $5.5 million. The signatory for Rosalind B. Resnick was Rosalind B. Resnick. The signatory for the buyer in care of the Beechwood Organization was Chad Sandler. Chad Sandler is an attorney at the firm. 

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Beechwood Organization purchased one property in one transaction for a total of $11.8 million and has no record it sold any properties over the past 24 months.
The seller Rosalind B. Resnick had not purchased any other properties and sold two properties in one transaction for a total of $11.1 million over the same time period.

The property

The 1-4 family building with 2 residential units in Greenwich Village has 3,168 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 18 feet and is 71 feet deep with a total lot size of 1,278 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $6.2 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 15 of the 31 commercial properties representing 239,956 square feet of the 366,765 square feet. The largest owner is William Gottlieb Real Estate, followed by Viking Management and then Superior Management.
There are no active new building construction projects on this tax block.

The majority, or 41 percent of the 366,765 square feet of built space are elevator buildings, with walkup buildings next occupying 33 percent of the space.

The buyer

The PincusCo database currently indicates that Beechwood Organization owned at least three commercial properties with 216 residential units in New York City with 272,201 square feet and a city-determined market value of $86.4 million. (Market value is typically about 50% of actual value.) The portfolio has $41 million in debt, borrowed from Capital One. Within the portfolio, the bulk, or 98 percent of the 272,201 square feet of built space are elevator properties, with mixed-use properties next occupying 2 percent of the space. The bulk, or 98 percent of the built space, is in Queens, with Manhattan next at 2 percent of the space.

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