Vinbaytel, Druzhinsky pay $18M to Schaffer family for commercial property in Flatiron

Gary Vinbaytel’s Vinbaytel Property Development and Dennis Druzhinsky through the entity MN W18W17 LLC paid the Schaffer family’s 17-18 Management Company L.L.C. $17.6 million for 21 West 17th Street, 16 West 18th Street in Flatiron. The deal closed on January 29, 2020, and was recorded on March 3, 2020. The transaction consists of 2 parcels, including the tax class two-story or store and office (K2). The parcel(s) have total development potential of 31,440 square feet.

Vinbaytel has built several projects in NYC.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There has been one new building permit application totaling 22,358 square feet. Those plans include a total of 12 residential or hotel units.
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