William Gottlieb RE pays $5.1M in West Village, owns adjacent buildings
555 Hudson Street (Credit - Cyclomedia)
William Gottlieb Real Estate, led by Neil Bender, through the entity 555 Hudson Street, LLC paid $5.1 million to Susan Spehar through the entity Spehar, Susan for the two-unit mixed-use building (S2) at 555 Hudson Street in West Village, Manhattan. The expected use is cash flowing.
The deal closed on December 18, 2025 and was recorded on December 23, 2025. The property has 1,920 square feet of built space and 1,652 square feet of additional air rights for a total buildable of 3,574 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $2,656 and the price per buildable square foot is $1,426 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 30, 2009, for $3.3 million. The signatory for Susan Spehar was Steven J. Goldstein . The signatory for William Gottlieb Real Estate was Michael Quinn . The contract date was November 16, 2025. William Gottlieb Real Estate owns multiple properties on the tax block, including the two adjacent buildings, 557 Hudson Street and 551 Hudson Street, as well as 113 Perry Street, next door to 551 Hudson.
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Prior sales, articles and revenue
Prior to this transaction, PincusCo has no record that the buyer William Gottlieb Real Estate had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Susan Spehar had not purchased any other properties and had not sold any properties over the same time period.
The property
The mixed-use building with 2 residential units in West Village has 1,920 square feet of built space and 1,652 square feet of additional air rights for a total buildable of 3,574 square feet according to a PincusCo analysis of city data. The parcel has frontage of 16 feet and is 67 feet deep with a total lot size of 1,039 square feet. The lot is irregular. The zoning is C1-6 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 3.44 times FAR for residential. The property is in the Greenwich Village Historic District. The city-designated market value for the property in 2022 is $6.6 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 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 West Village, The bulk, or 31 percent of the 10.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 27 percent of the space. In sales, West Village has 2.8 times the average sales volume among other neighborhoods with $828 million in sales volume in the last two years and is the 13th highest in Manhattan. For development, West Village has had very little major development activity relative to other neighborhoods.It had 767,777 square feet of commercial and multi-family construction under development in the last two years, which represents 7 percent of the neighborhood’s built space. There were two pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.
The block
On this tax block, PincusCo has identified the owners of 15 of the 21 commercial properties representing 178,909 square feet of the 212,251 square feet. The largest owner is William Gottlieb Real Estate, followed by Croman Real Estate and then Alf Naman Real Estate.
On the tax block, there were two new building construction projects totaling 56,565 square feet. The largest is a six-unit, 28,691 square-foot residential (R-2) building submitted by Kevin Young with plans filed September 30, 2016 and it has not been permitted yet. The second largest is a one-unit, 27,874 square-foot residential (R-2) building submitted by Kevin Young with plans filed August 26, 2016 and permitted January 9, 2019.
The majority, or 47 percent of the 212,251 square feet of built space are walkup buildings, with industrial buildings next occupying 34 percent of the space.
The buyer
The PincusCo database currently indicates that William Gottlieb Real Estate owned at least 92 commercial properties with 550 residential units in New York City with 1,010,061 square feet and a city-determined market value of $476.9 million. (Market value is typically about 50% of actual value.) The portfolio has $387.7 million in debt, with top three lenders as Deutsche Pfandbriefbank, Bank OZK, and Sterling National Bank respectively. Within the portfolio, the bulk, or 32 percent of the 1,010,061 square feet of built space are walkup properties, with office properties next occupying 26 percent of the space. They are all located in Manhattan.
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