Sun Frontier pays $9.4M to Serota Ventures for 20-unit walkup in East Village

Sun Frontier Fudousan Co. through the entity 139 East 13 LLC paid $9.4 million to Serota Ventures and Alchemy Ventures through the entity 139 East 13 Owner LLC for the 20-unit residential walkup building (C4) at 139 East 13th Street in East Village, Manhattan. The expected use is cash flowing.
The deal closed on August 1, 2025 and was recorded on August 11, 2025. The property has 10,947 square feet of built space and 4,100 square feet of additional air rights for a total buildable of 15,050 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $858 and the price per buildable square foot is $624 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 June 27, 2023, for $6.9 million. The signatory for Serota Ventures was Stephen Serota . The signatory for Sun Frontier Fudousan Co. was Michael A. Mulia . The contract date was March 27, 2025.

Serota Ventures is a relatively new company that Stephen and Jonathan Serota founded in December 2023. They are members of the Serota real estate family. Members of that family own the larger and older Serota Properties.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Sun Frontier Fudousan Co. purchased one property in one transaction for a total of $13.5 million and has no record it sold any properties over the past 24 months.
The former owners according to the Department of Housing Preservation and Development includes Alexander Horn, head officer and Marco Deutelmoser, site manager. The business entity is 139 East 13th Owner Llc.

The property

The residential walkup building with 20 residential units in East Village has 10,947 square feet of built space and 4,100 square feet of additional air rights for a total buildable of 15,050 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is C6-2A which allows for up to 6 times floor area ratio (FAR) for commercial and up to 6.02 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.9 million. The property has 7 rent regulated units according to city tax records from 2023.

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 seven housing violations and $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 10 of the 12 commercial properties representing 1,209,062 square feet of the 1,222,437 square feet. The largest owner is New York University, followed by Bldg Management and then Ral Development Services.
On the tax block, there was one new building construction project filed totaling 207,785 square feet. It is a 207,785 square-foot business (B) building submitted by NYC Economic Development Corporation and filed by Rory Melvin with plans filed November 15, 2018 and permitted August 12, 2019.

The majority, or 54 percent of the 1.2 million square feet of built space are hotel buildings, with elevator buildings next occupying 24 percent of the space.

The buyer

The PincusCo database currently indicates that Sun Frontier Fudousan Co. owned at least one commercial property with 18 residential units in New York City with 13,152 square feet and a city-determined market value of $6.1 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.

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