A MANHATTAN APARTMENT INVESTOR BOUGHT THE FAICCO'S BUILDING. THE STORE'S FUTURE RESTS ON ONE SENTENCE.

Faicco's Italian Specialties has sold sausage at 260 Bleecker Street, between Leroy and Morton, for more than seventy years. You still take a number, step up to the glass and wait while somebody weighs out hot links or wraps an Italian Special in paper. In October the building over that counter changed hands. The New York Real Estate Journal reported the sale on October 19: $5.925 million, off-market, from an estate whose family, the journal said, founded Faicco's and has run it since 1900. Crain's New York Business named the buyer three days earlier as SL Property Group. The store is open. What the sale leaves on Bleecker is a simple question about what the new owner paid for, and the record answers most of it.

Eduardo Faicco raised livestock and learned to butcher in Sorrento before he came to New York in 1896. In 1900 he opened a pork store on Elizabeth Street. It later moved to 152 Thompson Street, near Houston, and then to Bleecker, which Foods of NY dates to the 1940s under his son Joseph. Joseph opened a larger Faicco's in Dyker Heights in 1943, and that store is still run by the Brooklyn side of the family. Eddie Faicco took over the Bleecker counter in 1996, WestView News reported in 2015, with his daughter helping on weekends. NYREJ described the business this month as run by the fourth generation.

The case hasn't changed much. Sweet and hot pork links, thin and thick. Pinwheels with cheese and parsley. Sausage with broccoli rabe, with fennel, with sweet pepper. Dried sausage cut up as a snack. Sopressata that Robert Sietsema called "every bit as good as anything you can get in Italy, perhaps better." Trays from family recipes: lasagna, baked ziti, eggplant parm, rice balls. And the Italian Special, prosciutto, capicola, sopressata and mozzarella with roasted peppers, oil and vinegar on a sesame loaf. There's sawdust on the floor. It's the kind of counter people bring their kids to so the kids will bring theirs.

The detail that explains how Faicco's lasted is in the WestView piece: the store reached its current address in the late 1940s or early 1950s, when the family bought the building. A shop that owns its own walls doesn't sit across a table from a stranger every ten years asking what the rent will be. On Bleecker, where storefronts turn over, that's the difference between a business with a lease and a business with a landlord who is also your uncle, your father, or you.

The building went up in 1910, according to city data on PropertyShark: four stories on a lot about 24 feet wide and 75 deep, block 586, lot 66, one store and three apartments, 5,295 square feet. City records show three deeds on the property recorded in February 2002; the names are redacted on the public listing we checked, so we can't say who moved the title to whom. In October an estate sold it. NYREJ ties that estate to the founding family. Whose estate it is, and what the people working the counter had to say about selling, is not on the record.

Rodney Nassimian, director of investment sales at Highcap Group, brokered the deal. There was no public listing. The price works out to $1,119 a square foot for a four-story walk-up with street-level retail and three free-market apartments. Free-market matters here: those apartments aren't rent-stabilized, so their rents reset to whatever the market will pay each time a lease turns over.

Nassimian's description of the plan, as NYREJ printed it, is two clauses. The new owner intends to "preserve the historic street-level retail for the community" while "unlocking potential on the upper floor residential units." Read the second clause slowly. The upside the buyer is paying for sits upstairs, in three apartments a value investor can renovate and re-rent. The first clause is the only public word anyone has given about the store, and it came from the broker, about "street-level retail," without Faicco's name in it.

Do the rough math the way a buyer does. One store and three apartments now have to carry a $5.925 million price, plus whatever the apartment work costs. The rents the estate collected aren't public, so nobody outside the deal knows how far apart those two numbers are. The broker's phrase for closing that gap is "unlocking potential," and he put it upstairs.

SL Property Group was founded by Sean Lefkovits, who co-founded Davean Holdings before it. The firm works out of 515 Madison Avenue. On its own site it describes value-add, opportunistic and core-plus investing in New York City multifamily properties, in Manhattan and Brooklyn, with deals found on and off the market and more than $600 million in transactions behind the team. Value-add, in plain terms: buy a building, improve the apartments, raise what they bring in, and the building is worth more whether you keep it or sell it.

The deal record on PincusCo shows the pace. Since late 2025 the firm has bought 265 West 85th Street for $3.5 million, 430 Amsterdam Avenue for $7.8 million, and two more buildings for $7.4 million and $9 million, mostly with loans from the same lender. In the same stretch it sold 85 Dean Street for $7.8 million, 181 Court Street for $6.8 million and 231 Sullivan Street, a few blocks east of Faicco's, for $7.1 million. Under the Davean name, Lefkovits bought 235 Sullivan Street in 2021, and Davean and Meadow Partners sold Village apartments for $50 million in 2023. PincusCo puts his current city portfolio at five properties and 50 apartments.

Nothing in that record speaks to how the firm treats a ground-floor tenant. What the record shows is a business built around apartments. The store came with the building. The plan, in the broker's words, is upstairs.

Here's what was said about the store's lease: nothing. NYREJ printed no lease terms. Nobody has said whether Faicco's has a written lease, what it pays, or how many years it has left. While the family owned the building and ran the store, that question stayed inside the family. Now it sits between a fourth-generation pork store and an investor whose business is the floors above it.

New York gives that store no backstop. No law in this city caps a commercial rent or guarantees a renewal. A shop's protection is its lease, and when a building sells, the lease goes with it to the new owner. If there's a long one, Faicco's is fine for its length. If there's a short one, or none, the counter's future is whatever the next conversation says.

There are three things to watch from the sidewalk. The deed, which will land in the city's property records under block 586, lot 66, with the buyer's entity and the price on it. Any Department of Buildings filing for work on the apartments, which would show how big the plan is. And any word from the Faicco family at the counter, who haven't said anything publicly about the sale.

The new owner can settle this in a sentence of its own. A building bought to make three apartments worth more doesn't need the sausage counter gone, and keeping a 126-year-old store is good for the block and good for the building. If that's the plan, put a long lease on paper and say so out loud. Until then, everything Bleecker Street knows about Faicco's future comes from one line in a broker's press note. The sausage has been made the same way since 1900. What changed in October is who gets to set the rent.

SOURCING

Photos via Pexels, used to illustrate. None were taken at Faicco's or 260 Bleecker Street.