Staring down foreclosure, investment group asks $16M for Greenwich Village townhouses

New York /
Apr.April 10, 2013 03:00 PM

The owners of two federal-style townhouses in Greenwich Village are aiming to escape a foreclosure proceeding by listing the properties for $15.9 million, The Real Deal has learned. The sellers of 133 and 135 West 13th Street are an investment group represented by Corcoran Group broker Daren Herzberg; the lender, Village Realty Holdings, brought a foreclosure case against the properties in 2011.

Village Realty claims the LLC that owns the homes owes a total balance of more than $8 million. The sale would satisfy those claims.

The lender petitioned a New York State Supreme Court judge more than two years ago to issue a judgment against the property, citing three separate mortgages it held on the two buildings. The judge issued the order in November 2011 and the property was transferred to a court-appointed receiver shortly after.

The property is listed as a co-exclusive by Herzberg, Julie Pham and Brian Babst of Corcoran, as well as James Nelson of Massey Knakal Realty Services.

The two buildings were constructed in 1890, according to the listings, and have a combined 9,600 square feet of interior space. They also come with access to a 2,000-square-foot private garden and could be combined to form a single-family home.

The investment group acquired the properties in 2008 for a combined $9.2 million, public records show. They paid $3.7 million for 133 West 13th Street and $5.5 million for 135 West 13th Street.

An attorney for Village Realty did not immediately respond to a request for comment. Herzberg declined to comment on behalf of the investment group.

The broker is no stranger to the Village. He found himself in financial difficulties last year at a development project he spearheaded nearby with business partner and relative Denny Herzberg at 150 West 15th Street. SFR Venture, the lender on the townhouse project, filed to foreclose on the property, citing an unpaid loan balance of more than $8.5 million.

Herzberg failed to Sell The 15th Street building both as separate apartment units and later as a single-family home. The property has been on and off the market since 2009; it is also asking $15.9 million.


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