---
title: "Midwood Pays $41M for West Village Retail Swath at 403 Avenue of the Americas"
url: https://burnaze.com/article/3828752e-9264-453a-9917-0a1ba7a60ef7
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/06/midwood-403-avenue-of-the-americas-sale/
author: "Edavis"
category: "Mexican"
industry: "Restaurants"
segment: "Mexican"
published: 2026-06-12T16:58:52.000Z
modified: 2026-10-31T13:16:48.601Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/06/John-Usdan-403-6th-Ave-credit-Propertyshark.jpg?quality=80&w=1200
---

# Midwood Pays $41M for West Village Retail Swath at 403 Avenue of the Americas

**TL;DR:** Midwood Investment & Development acquired a large commercial parcel in Manhattan's West Village for $41 million. The property, located at 403 Avenue of the Americas, was purchased from Millsmith, a limited liability company with family ties to Samco Properties.

*By Edavis, originally published in Commercial Observer on 2026-06-12. [Read the original](https://commercialobserver.com/2026/06/midwood-403-avenue-of-the-americas-sale/).*

## Story

A large commercial parcel in the heart of Manhattan’s West Village has changed hands for $41 million.

The retail property at **403 Avenue of the Americas** was acquired in cash by **John Usdan**’s **Midwood Investment & Development**, according to city records made public Friday. The one-story retail buildings sit at the corner of Greenwich Avenue, running toward Christopher Street. The property also includes adjacent **405 Avenue of the Americas** and **1 Greenwich Avenue**.

The family-owned Midwood purchased the collection of storefronts from longtime owner **Millsmith**, a limited liability company with family ties to real estate firm **Samco Properties**. **Joshua Smith**, a partner at **Milsmith Real Estate Advisory Services** and general counsel at Samco, signed the deed for the seller, records show.

Current retail tenants at the West Village property two blocks northwest of **Washington Square Park** include Italian restaurant **Olio E Più**, florist **Casey’s Flower Studio**, fast-food chain **Chipotle Mexican Grill** and optometrist **Cohen’s Fashion Optical**.

It is unclear whether Midwood or Millsmith worked with an outside brokerage in the transaction.

Millsmith, through the entity **405 Sixth**, acquired the commercial plot in 2007.

Midwood’s new acquisition was split between two entities holding the title as tenants-in-common. **One Greenwich Retail ECU**, with a 51 percent stake, was signed for by Usdan, while **Snapdragon Owner** was co-signed by managers **Claus Zellner**, **Jonathan Spice** and **Philip Dean**.

The family-owned Midwood operates a national portfolio of development, office, retail and residential properties across several U.S. markets. The retail acquisition adds to their West Village footprint, which includes the 159-unit **Candela Tower** at **56 Seventh Avenue**, acquired from **BlackRock** for $102 million in 2022. The firm more recently landed a $200 million construction loan for a 21-story, 276-unit multifamily project at **200 Douglass Street** in Brooklyn’s Gowanus neighborhood.

A spokesperson for Midwood did not immediately respond to requests for comment. Smith declined to comment.

Keywords: 1 Greenwich Avenue, 403 Avenue of the Americas, 405 Avenue of the Americas, John Usdan, Joshua Smith, Midwood Investment & Development, Millsmith, Milsmith Real Estate Advisory Services, One Greenwich Retail ECU, Samco Properties, Snapdragon Owner

## Entities

- Real Estate (sector)
- Commercial Observer (publication)
- Chipotle Mexican Grill (company)
- commercial real estate (topic)
- BlackRock (company)
- property acquisition (topic)
- retail property (topic)
- Midwood Investment & Development (company)
- John Usdan (person)
- Millsmith (company)
- Joshua Smith (person)
- Samco Properties (company)

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Originally reported by Edavis, Commercial Observer (https://commercialobserver.com/2026/06/midwood-403-avenue-of-the-americas-sale/). Summarized by Burnaze (https://burnaze.com/article/3828752e-9264-453a-9917-0a1ba7a60ef7).