Sun Frontier pays $12.5M for 15-unit walkup in Nolita

Sun Frontier Fudousan Co. through the entity 17 Prince St LLC paid $12.5 million to Israel Cohen and Moshe Heltzer through the entity 17 Prince LLC for the 15-unit residential walkup building (C7) at 17 Prince Street in Nolita, Manhattan. The expected use is cash flowing.
The deal closed on January 16, 2026 and was recorded on January 30, 2026. The property has 8,652 square feet of built space and 1,047 square feet of additional air rights for a total buildable of 9,704 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,444 and the price per buildable square foot is $1,288 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 Israel Cohen and Moshe Heltzer was Moshe Heltzer. The signatory for Sun Frontier Fudousan Co. was Michael Mulia . The contract date was October 24, 2025. Traded NY reported on the sale previously but did not identify the buyer.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Sun Frontier Fudousan Co. purchased five properties in five transactions for a total of $49.4 million and sold one property in one transaction for a total of $20.4 million over the past 24 months.
The seller Israel Cohen 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 Israel Cohen, head officer and Hanan Ofer, officer. The business entity is 17 Prince Llc. The 8,652-square-foot property generated revenue of $930,929 or $108 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 15 residential units in Nolita has 8,652 square feet of built space and 1,047 square feet of additional air rights for a total buildable of 9,704 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 80 feet deep with a total lot size of 1,612 square feet. The zoning is C6-2 which allows for up to 6 times floor area ratio (FAR) for commercial and up to 6.02 times FAR for residential. The city-designated market value for the property in 2022 is $5.6 million. The property has 6 rent regulated units according to city tax records from 2024.

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 $100 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 11 of the 25 commercial properties representing 222,955 square feet of the 321,209 square feet. The largest owner is Mark D. Kalimian, followed by Croman Real Estate and then William Gottlieb Real Estate.
There are no active new building construction projects on this tax block.

The majority, or 61 percent of the 321,209 square feet of built space are walkup buildings, with elevator buildings next occupying 32 percent of the space.

The seller

The PincusCo database currently indicates that Israel Cohen owned at least two commercial properties with 87 residential units in New York City with 94,314 square feet and a city-determined market value of $4.9 million. (Market value is typically about 50% of actual value.) The portfolio has $6 million in debt, borrowed from New York Community Bank. Within the portfolio, the bulk, or 69 percent of the 94,314 square feet of built space are elevator properties, with walkup properties next occupying 31 percent of the space. They are all located in Bronx.

The buyer

The PincusCo database currently indicates that Sun Frontier Fudousan Co. owned at least four commercial properties with 39 residential units in New York City with 35,381 square feet and a city-determined market value of $13.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 87 percent of the 35,381 square feet of built space are walkup properties, with C3 properties next occupying 13 percent of the space. They are all located in Manhattan.

Direct link to Acris document. link

[mapbox_for_business addresses=”17 Prince Street new york ny 10012″]