Westside Market pays $32.5M to TPG Angelo Gordon, Premier for UWS retail

The Zoitas family’s Westside Market NYC through the entity Westside 2250 Broadway, LLC paid $32.5 million to TPG Angelo Gordon and Premier Equities through the entity AG-Premier 2250 Broadway Owner, L.L.C. for the retail condo at 2250 Broadway in Upper West Side, Manhattan. The expected use is owner occupied.
The deal closed on May 5, 2025 and was recorded on May 13, 2025. The property has 34,353 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $946 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 September 22, 2022, for $27 million. The signatory for TPG Angelo Gordon and Premier Equities was Doug Profenius . The signatory for Westside Market NYC was John Zoitas . The contract date was January 17, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Westside Market NYC had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller TPG Angelo Gordon had not purchased any other properties and sold one property in one transaction for a total of $1.4 million over the same time period.

The property

The retail condo in Upper West Side has 34,353 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 34,353 square feet. The city-designated market value for the property in 2022 is $16.1 million. The most recent loan totaled $17.6 million and was provided by Metropolitan Commercial Bank on September 22, 2022.

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 not received any significant 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 neighborhood

In Upper West Side, The majority, or 59 percent of the 52.9 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 23 percent of the space. In sales, Upper West Side has 3.9 times the average sales volume among other neighborhoods with $1.1 billion in sales volume in the last two years and is the 9th highest in Manhattan. For development, Upper West Side has 2.4 times the average amount of major developments relative to other neighborhoods and is the 12th highest in Manhattan. It had 2.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 18 of the 21 commercial properties representing 556,404 square feet of the 642,527 square feet. The largest owner is Zucker Organization, followed by Massood Cohen and then Zuzu Aghrav.
On the tax block, there was one new building construction project filed totaling 95,137 square feet. It is a 28-unit, 95,137 square-foot residential (R-2) building submitted by Alchemy Properties and filed by Kenneth Horn with plans filed April 12, 2016 and permitted May 22, 2017.

The majority, or 73 percent of the 642,527 square feet of built space are elevator buildings, with walkup buildings next occupying 19 percent of the space.

The seller

The PincusCo database currently indicates that Premier Equities owned at least nine commercial properties with 60 residential units in New York City with 97,689 square feet and a city-determined market value of $46.1 million. (Market value is typically about 50% of actual value.) The portfolio has $142.3 million in debt, with top three lenders as Signature Bank, Acadia Realty Trust, and Metropolitan Commercial Bank respectively. Within the portfolio, the bulk, or 34 percent of the 97,689 square feet of built space are mixed-use properties, with walkup properties next occupying 23 percent of the space. The bulk, or 75 percent of the built space, is in Manhattan, with Queens next at 25 percent of the space.

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