William Gottlieb Real Estate signs $35M refi with Webster Bank for nine properties in Manhattan

William Gottlieb Real Estate through the entity 115 Perry Street, LLC as borrower signed a refi loan with lender Webster Bank through the entity Webster Bank National Association valued at $35 million for nine properties with 120 residential units including the 25-unit residential walkup building (C7) at 117-119 Perry Street in West Village, Manhattan, 22-unit residential elevator building (D8) at 581 Hudson Street in West Village, Manhattan, and 18-unit residential walkup building (C7) at 322-324 West 11th Street in West Village, Manhattan.
The deal closed on March 30, 2026 and was recorded on April 9, 2026. The prior lender was Webster Bank which held debt that had an original loan amount of $23 million.The nine properties have 99,075 square feet of built space and 11,881 square feet of additional air rights according to a PincusCo analysis of city data. The loan price per built square foot is $353 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 signatory for William Gottlieb Real Estate was Neil Bender . The signatory for Webster Bank was Nelson Ornelas .

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 117-119 Perry Street.

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Pavel Krivchikov, head officer and Julio Hernandez, officer. The business entity is 117 Perry Street Property, Llc. Out of the nine properties, five with a total of 99,075 square feet of built space generated revenue of $5.4 million per year.

The property

The residential walkup building at 119 Perry Street with 25 residential units in West Village has frontage of 56 feet and is 85 feet deep with a total lot size of 3,150 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. The property has 7 rent regulated units according to city tax records from 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $312 in ECB penalties and $5,852 in OATH penalties in the last year.

Development

For the tax lot buildings, one out of the nine buildings received a initial certificate of occupancy in the last ten years. 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 the tax block of 117-119 Perry Street, PincusCo has identified the owners of 16 of the 21 commercial properties representing 180,829 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 borrower

The PincusCo database currently indicates that william gottlieb real estate owned at least 92 commercial properties with 552 residential units in New York City with 1,009,617 square feet and a city-determined market value of $481.2 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 1,009,617 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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