RoundSquare Dev pays $8.8M to Gabriel Nussbaum for 6-unit walkup in West Village

RoundSquare Development through the entity 105 Th LLC paid $8.8 million to Gabriel Nussbaum through the entity Fenja LLC for the six-unit residential walkup building at 105 Bank Street in West Village, Manhattan.
The deal closed on February 7, 2022 and was recorded on February 16, 2022.
The property has 4,320 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $2,037 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 September 23, 2005, for $650,000.
The signatory for Gabriel Nussbaum was Gabriel Nussbaum. The signatory for RoundSquare Development was Robert Kaliner.
Prior to this transaction, the buyer RoundSquare Development had not purchased any other properties and sold three properties in three transactions for a total of $27.7 million over the past 24 months.
The seller Gabriel Nussbaum had not purchased any other properties and had not sold any properties over the same time period.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
Robert Kaliner is the founder of RoundSquare Development.
In West Village, the bulk, or 35 percent of the 15.7 million square feet of built space are residential elevator buildings, with residential walkup buildings next occupying 18 percent of the space. In sales, West Village has 2.5 times the average sales volume among other neighborhoods with $690.5 million in sales volume in the last two years and is the 16th highest in Manhattan. For development, West Village has had very little major development activity relative to other neighborhoods.It had 152,386 square feet of commercial and multi-family construction under development in the last two years, which represents 0.97 percent of the neighborhood’s built space.
On the tax block, the majority, or 50 percent of the 215,872 square feet of built space are residential elevator buildings, with 1-4 family buildings next occupying 25 percent of the space.
The former owners according to the Department of Housing Preservation and Development included Gabriel Nussbaum, head officer and Charline Spektor, officer. The business entity was Fenja Llc.
Within a 400-foot radius of 105 Bank Street, PincusCo identified 10 commercial real estate items of interests occurred over the past 24 months.
Of those 10 items, five were sales above $5 million totaling $104.2 million. The most recent of the five was Ceiba Trust which bought one condo unit in the 3,537-square-foot, nine-unit condo building (R1) on 607 Hudson Street for $16.2 million from Nancy C. Crown on December 30, 2021.
Of those 10 items, five were loans above $5 million totaling $78.8 million. The most recent of the five was RoundSquare Development which borrowed $12.5 million from Maxim Capital Group secured by the 4,190-square-foot, three-unit three-family building (C0) on 107 Bank Street on November 18, 2021.

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