Building Equity Management doesn’t appear to be ready to tip its hand, but its latest acquisition is further proof that it has something in the works in Nolita.
Michael Vinocur’s firm bought the four-story retail building at 236 Bowery for $45 million. This deal was first reported in TRD’s daily transaction digest.
The seller was a limited liability company controlled by Anton Mayer, the Commercial Observer reported.
The property has long been occupied by Bari Restaurant & Pizzeria Equipment. The family company sports bright signage on the facade and is credited for helping to turn New York City into the world’s pizza mecca.
Nearly 1 in 10 storefronts in Noho and Nolita are vacant, according to an analysis last year by The Real Deal. Out of 553 properties in Noho and Nolita, 51 were vacant at the time of the study — 9.2 percent.
Employees of Bari could not comment on the sale, but it’s not the first slice of the company’s pie headed the way of Building Equity; in October 2024, a limited liability company linked to the retailer sold two properties adjacent to 236 Bowery to Building Equity for $15 million. In recent years, Building Equity also acquired 3 Essex Street and 19 Prince Street, according to the New York Business Journal.
The company did not return a request for comment from the publication.
Building Equity Management is a boutique firm with mixed-use, multifamily, co-op and condominium assets in its purview, according to the company website. The firm manages more than 125 properties, mostly in Manhattan and Brooklyn.
In 2023, the company bought a 25-unit walkup building in Soho from Kushner Companies for $12 million. The six-story building at 156 Sullivan Street has a gross floor area of just under 16,000 square feet. Two of the building’s three ground-floor retail spaces were leased to Brigadeiro Bakery and a nail salon.
— Holden Walter-Warner
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