Realya Buys Greenwich Village Portfolio for $24M
By Isabelle Durso April 7, 2025 5:20 pm
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Real estate investment firm Realya has acquired a five-building portfolio of residential and retail properties in Greenwich Village, Commercial Observer has learned.
Israel-based Realya purchased the string of adjacent properties stretching from 387 to 401 Avenue of the Americas from real estate firm Walter & Samuels for $24.3 million, according to seller broker KSR.
The purchase of the portfolio, which comprises 25,517 square feet, comes with buildable rights of up to roughly 40,000 square feet, KSR said.
“The buyer recognized the unique opportunity to acquire nearly a full block of retail frontage in a prime submarket in Greenwich Village with potential future development rights,” KSR’s Albert Sultan, who brokered the deal for the seller, said in a statement. “With retail experiencing a renaissance, we expect to see a lot more transactions of this nature in the coming months.”
Spokespeople for Realya and Walter & Samuels did not immediately respond to requests for comment.
Walter & Samuels bought the buildings on the block between Waverly Place and West Eighth Street in 1976 for an undocumented amount, property records show.
The portfolio, which has more than 150 feet of frontage along Avenue of the Americas, was 85 percent occupied at the time of the new deal’s closing, KSR said.
Current retail tenants on the block include All Seasons Spa, Pilates studio Club Pilates, gym Orangetheory Fitness, Citi Bank and dentist Village Dental Medicine.
It’s unclear what Realya’s exact plans are for the property, but the deal represents an “exciting” development project for the new owner, according to Douglas Elliman’s Sahar Ziv, who brokered the deal for the buyer.
“This five-building assemblage represents one of the last remaining development sites in the heart of Greenwich Village, a true and rare gem,” Ziv said in a statement. “The new owner is excited about the future possibilities that this property offers, and we are very proud to be a part of this historical transaction.”
Isabelle Durso can be reached at idurso@commercialobserver.com.
