Steven Gautier-Winther pays $2.2M for 5-unit walkup in NoHo

Steven Gautier-Winther through the entity 52 Bndo LLC paid $2.2 million to Joseph Bachman through the entity 52 Bond Street LLC for the five-unit residential walkup building (C2) at 52 Bond Street in NoHo, Manhattan. This is the second recent transaction between the parties. Previously, Bachman sold 332 Bowery to Gautier-Winther for $8.8 million. The tax lots 52 Bond Street and 332 Bowery Street are adjacent, sharing a common 25-foot stretch on the interior of the block.
The new deal closed on July 20, 2023 and was recorded on August 1, 2023. The property has 3,750 square feet of built space and 4,371 square feet of additional air rights for a total buildable of 8,125 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $600 and the price per buildable square foot is $276 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 Joseph Bachman was Joseph Bachman. The signatory for Steven Gautier-Winther was Steven Gautier-Winther. The contract date was March 22, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Steven Gautier-Winther purchased two properties in two transactions for a total of $18 million and has no record it sold any properties over the past 24 months.
The seller Joseph Bachman had not purchased any other properties and sold one property in one transaction for a total of $8.8 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Joseph Bachman, head officer and Susan Gaynes, officer. The business entity is 52 Bond Street Llc.

The property

The residential walkup building with 5 residential units in NoHo has 3,750 square feet of built space and 4,371 square feet of additional air rights for a total buildable of 8,125 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 75 feet deep with a total lot size of 1,625 square feet. The lot is irregular. The zoning is M1-5/R7X which allows for up to 5 times floor area ratio (FAR) for manufacturing and up to 5 times FAR for residential with inclusionary housing. The property is in the NoHo Historic District Extension. The city-designated market value for the property in 2022 is $4.2 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 received $600 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 seven of the 23 commercial properties representing 120,255 square feet of the 336,595 square feet. The largest owner is Steven Gautier-Winther, followed by Portfolio6 Llc and then Leslie J. Garfield & Co. Inc..
There are no active new building construction projects on this tax block.

The majority, or 48 percent of the 336,595 square feet of built space are office buildings, with mixed-use buildings next occupying 23 percent of the space.

The seller

The PincusCo database currently indicates that Joseph Bachman owned at least one commercial property with five residential units in New York City with 3,750 square feet and a city-determined market value of $4.2 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Manhattan.

The buyer

The PincusCo database currently indicates that Steven Gautier-Winther owned at least two commercial properties with 11 residential units in New York City with 14,531 square feet and a city-determined market value of $12.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 50 percent of the 14,531 square feet of built space are mixed-use properties, with elevator properties next occupying 50 percent of the space. They are all located in Manhattan.

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