Seastone Capital pays $1.3M to Bijan Nassi for 18-unit walkup in Washington Heights

Seastone Capital through the entity 2006-2008 Amsterdam Avenue LLC paid $1.3 million to Bijan Nassi through the entity 2006 Amsterdam Realty Associates LLC for the 18-unit residential walkup building (C7) at 2006 Amsterdam Avenue in Washington Heights, Manhattan. The expected use is cash flowing.
The deal closed on September 16, 2025 and was recorded on October 1, 2025. The property has 16,672 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $77 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 October 6, 2010, for $2.2 million. The signatory for Bijan Nassi was Bijan Nassi. The signatory for Seastone Capital was Adam Goodstein . The contract date was August 21, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Seastone Capital purchased two properties in two transactions for a total of $8.6 million and has no record it sold any properties over the past 24 months.
The seller Bijan Nassi 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 Bijan Nassi, head officer and Ibar Beingolea, site manager. The business entity is 2006 Amsterdam Realty Associates Llc. The 16,672-square-foot property generated revenue of $430,129 or $26 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 18 residential units in Washington Heights has 16,672 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 79 feet deep with a total lot size of 3,992 square feet. The zoning is R7-2 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.3 million. Northeast Bank on June 5, 2023 bought a loan with an original principal of from signed by Bijan Nassi, secured by 2006 Amsterdam Avenue, when owned by Bijan Nassi. The property has 18 rent regulated units according to city tax records from 2022.

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 received $2,560 in OATH penalties 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 16 of the 21 commercial properties representing 367,013 square feet of the 415,445 square feet. The largest owner is City Of New York, followed by Mdg Design + Construction and then George Huang.
On the tax block, there were two new building construction projects totaling 33,418 square feet. The largest is a 36-unit, 29,437 square-foot residential (R-2) building submitted by Heritage Real Estate Partners and filed by Jeremy Markowitz with plans filed June 15, 2015 and permitted February 12, 2016. The second largest is a four-unit, 3,981 square-foot residential (R-3) building submitted by Joseph Atarien with plans filed February 28, 2025 and it has not been permitted yet.

The majority, or 49 percent of the 415,445 square feet of built space are walkup buildings, with specialty buildings next occupying 26 percent of the space.

The seller

The PincusCo database currently indicates that Bijan Nassi owned at least nine commercial properties with 129 residential units in New York City with 243,642 square feet and a city-determined market value of $53.6 million. (Market value is typically about 50% of actual value.) The portfolio has $58.8 million in debt, with top three lenders as Northeast Bank, T30 Capital, and Avant Capital respectively. Within the portfolio, the bulk, or 52 percent of the 243,642 square feet of built space are office properties, with elevator properties next occupying 40 percent of the space. They are all located in Manhattan.

The buyer

The PincusCo database currently indicates that Seastone Capital owned at least two commercial properties with 81 residential units in New York City with 77,476 square feet and a city-determined market value of $4.3 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. The bulk, or 73 percent of the built space, is in Manhattan, with Bronx next at 27 percent of the space.

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