Tahari Capital, partners, pay $5M for 10-unit rental in East Harlem

Tahari Capital led a group of investors through the entity 105 Gol LLC (and other entities) that paid $5 million to Steven T. Haskell, Sean O’Sullivan, and Christopher T. Menziuso through the entity 347 East 105th Street LLC for the 10-unit residential elevator building (D1) at 347 East 105th Street in East Harlem, Manhattan.
The deal closed on June 26, 2023 and was recorded on July 7, 2023. The property has 8,206 square feet of built space and 1,891 square feet of additional air rights for a total buildable of 10,088 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $609 and the price per buildable square foot is $495 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 November 8, 2013, for $1.7 million. The signatory for Steven T. Haskell, Sean O’Sullivan, and Christopher T. Menziuso was Sheldon Glassman. The signatory for Tahari Capital and partners was Jeremey Tarahi.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Tahari Capital had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Steven T. Haskell had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Jennifer Osullivan, head officer. The business entity is 347 East105th St Llc.

The property

The residential elevator building with 10 residential units in East Harlem has 8,206 square feet of built space and 1,891 square feet of additional air rights for a total buildable of 10,088 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 2,522 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1 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 one DOB violation and $100 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on October 20, 2017. 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 28 commercial properties representing 231,341 square feet of the 354,844 square feet. The largest owner is Sassouni Management, followed by Marc Salih and then Hope Community.
On the tax block, there was one new building construction project filed totaling 20,160 square feet. It is a 22-unit, 20,160 square-foot residential (R-2) building submitted by Salih Marc with plans filed December 7, 2016 and permitted August 8, 2017.

The majority, or 38 percent of the 354,844 square feet of built space are walkup buildings, with elevator buildings next occupying 36 percent of the space.

Correction: A prior version of this post misspelled Jeremey Tahari’s first name.

Direct link to Acris document. link