116 MacDougal Street
116 & 118 Macdougal Street represents a well-located Greenwich Village mixed-use acquisition at $707/SF, which is broadly in line with current market comps for the submarket and asset class, suggesting fair but not distressed pricing. The buyer, Alfred Sabetfard of Sabet Group, brings a credible track record of $104M+ in NYC transactions, which reduces execution risk and supports borrower confidence. The Greenwich Village corridor along Macdougal Street benefits from strong retail foot traffic, proximity to NYU, and persistent residential demand, providing durable income diversification across the mixed-use stack. No distress indicators, liens, litigation, or foreclosure flags are present, and the clean title profile supports a straightforward underwriting path. The primary risks are interest rate sensitivity on the financing structure and the inherent rent regulation exposure common to Manhattan mixed-use buildings of this vintage.
Deal Stats
Parties
Seller / Landlord
Lewis M. Barnabel appears to be a private individual or small private investor disposing of a long-held Manhattan mixed-use asset; limited public profile suggests this is a legacy hold rather than an institutional seller, which is consistent with the Greenwich Village submarket's ownership composition.
Buyer / Tenant
Alfred Sabetfard of Sabet Group is an active NYC mixed-use and multifamily investor with a documented transaction volume of approximately $104.1M across 7 deals, indicating a seasoned mid-market operator with a focused New York City acquisition strategy. The Sabet Group has demonstrated consistent activity in Manhattan and outer borough mixed-use assets, suggesting familiarity with regulatory and operational complexities of NYC real estate.
Score Analysis
What this score means
A Grade B score indicates this deal qualifies for financing at up to 70% LTV, subject to full underwriting. Most deals at this level proceed to a term sheet within 2 business days.
Why this score
Buyer Credibility & Track Record
Alfred Sabetfard's $104.1M transaction volume across 7 deals demonstrates operational expertise and reduces execution risk on a complex mixed-use asset.
Pricing Valuation
At $707/SF, pricing aligns with current Greenwich Village comps but offers no significant discount, limiting upside on repositioning or value-add strategies.
Rent Regulation Exposure
Vintage Manhattan mixed-use buildings typically carry rent-stabilized residential units, limiting income growth and creating regulatory compliance complexity.
Location & Income Diversification
Prime Greenwich Village corridor with strong retail foot traffic, NYU proximity, and mixed-use stack provides durable income across residential and commercial tenants.
Seller Profile
Private individual seller suggests a legacy hold with potentially limited negotiating leverage, though clean title indicates straightforward transaction execution.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Obtain Detailed Rent Roll & Lease Expiry Schedule
Clarify rent-stabilized vs. market-rate split, lease maturity dates, and tenant creditworthiness to quantify regulatory drag and identify lease-up opportunities.
Specify Financing Structure & Interest Rate Lock
Confirming fixed-rate debt terms and LTV would mitigate interest rate sensitivity risk flagged in narrative and improve underwriting confidence.
Validate Retail Tenant Quality & Durability
Document retail tenant names, sales productivity, and lease terms to substantiate the strong foot-traffic narrative and assess downside risk in economic softening.
