Ziyi Liang pays $5M for 4-unit walkup in Upper West Side

Ziyi Liang paid $5 million to the entity 152 West 73rd Street, LLC for the four-unit property (C5) at 152 West 73rd Street in Upper West Side, Manhattan.
The deal closed on October 20, 2023 and was recorded on November 1, 2023. The property has 4,792 square feet of built space and 3,370 square feet of additional air rights for a total buildable of 8,172 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,032 and the price per buildable square foot is $605 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 the seller was Kevin M. Cahill. The signatory for Ziyi Liang was Ziyi Liang. The contract date was September 8, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Ziyi Liang had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Kevin Cahill had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Kevin Cahill, head officer. The business entity is 152 W 73 Rd St Llc.

The property

The property with 4 residential units in Upper West Side has 4,792 square feet of built space and 3,370 square feet of additional air rights for a total buildable of 8,172 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 102 feet deep with a total lot size of 2,043 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The property is in the Upper West Side / Central Park West Historic District. The city-designated market value for the property in 2022 is $3 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 received one DOB violation 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 22 of the 45 commercial properties representing 485,482 square feet of the 676,339 square feet. The largest owner is Vincent Young, followed by Terrence Smart and then Solil Management.
There are no active new building construction projects on this tax block.

The majority, or 52 percent of the 676,339 square feet of built space are elevator buildings, with walkup buildings next occupying 30 percent of the space.

The seller

The PincusCo database currently indicates that Kevin Cahill owned at least one commercial property with four residential units in New York City with 4,792 square feet and a city-determined market value of $3 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Manhattan.

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