Two80 Real Estate pays $7.5M to Bronstein Properties for 52-unit walkup in Washington Heights

Two80 Real Estate Ventures through the entity 624 West 176th Realty LLC paid $7.5 million to Bronstein Properties through the entity Heights 624 LLC for the 52-unit residential walkup building (C7) at 624 West 176th Street in Washington Heights, Manhattan. The expected use is cash flowing.
The deal closed on October 27, 2025 and was recorded on October 29, 2025. The property has 46,500 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $161 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 December 23, 2020, for $1.7 million. The signatory for Bronstein Properties was Barry Rudofsky . The signatory for Two80 Real Estate Ventures was Jesse Deutch . The contract date was August 1, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Two80 Real Estate Ventures purchased eight properties in eight transactions for a total of $44.5 million and sold one property in one transaction for a total of $2.7 million over the past 24 months.
The seller Bronstein Properties purchased three properties in two transactions for a total of $298.5 million and sold six properties in five transactions for a total of $318.3 million over the same time period. The 46,500-square-foot property generated revenue of $1 million or $23 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 52 residential units in Washington Heights has 46,500 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 99 feet and is 100 feet deep with a total lot size of 9,910 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 $3 million. The property has 44 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 13 housing violations 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 12 of the 21 commercial properties representing 487,150 square feet of the 671,986 square feet. The largest owner is Parkoff Organization, followed by Stellar Management and then Jose Betancourt.
There are no active new building construction projects on this tax block.

The majority, or 60 percent of the 671,986 square feet of built space are walkup buildings, with elevator buildings next occupying 34 percent of the space.

The seller

The PincusCo database currently indicates that Bronstein Properties owned at least 90 commercial properties with 4,647 residential units in New York City with 4,242,598 square feet and a city-determined market value of $466.7 million. (Market value is typically about 50% of actual value.) The portfolio has $495.8 million in debt, with top three lenders as New York Community Bank, Capital One, and Signature Bank respectively. Within the portfolio, the bulk, or 67 percent of the 4,242,598 square feet of built space are elevator properties, with walkup properties next occupying 33 percent of the space. The bulk, or 47 percent of the built space, is in Queens, with Manhattan next at 28 percent of the space.

The buyer

The PincusCo database currently indicates that Two80 Real Estate Ventures owned at least 21 commercial properties with 525 residential units in New York City with 431,886 square feet and a city-determined market value of $39 million. (Market value is typically about 50% of actual value.) The portfolio has $25.8 million in debt, with top three lenders as Dime Community Bank, Urban Standard Capital, and International Finance Bank respectively. Within the portfolio, the bulk, or 98 percent of the 431,886 square feet of built space are walkup properties, with M4 properties next occupying 2 percent of the space. They are all located in Manhattan.

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