3-unit mixed-use rental in Greenpoint sells for $2.5M

Edward Radko through the entity 915 Manhattan, LLC paid $2.5 million to Jefferey J. Kibalo through the entity 915 Manhattan Ave, LLC for the three-unit mixed-use building (S3) at 915 Manhattan Avenue in Greenpoint, Brooklyn.
The deal closed on June 8, 2021 and was recorded on June 18, 2021.
The property has 4,704 square feet of built space and 1,596 square feet of additional air rights for a total buildable of 6,300 square feet according to PincusCo analysis of city data. The sale price per built square foot is $531 and the price per buildable square foot is $396 per the PincusCo analysis.
The signatory for Jefferey J. Kibalo was Jefferey J. Kibalo. The signatory for Edward Radko was Edward Radko.

The owner according to the Department of Housing Preservation and Development is Anna Kibalo, individual owner.
Within a 400-foot radius of 915 Manhattan Avenue, PincusCo identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, one was for a major renovation including a certificate of occupancy change. It was a permit applications filed on October 17, 2019 for the $804,000 renovation of a 9,318-square-foot residential building with seven residential units at 184 Kent Street.
Of those six items, two were sales above $5 million totaling $48.9 million. The most recent of the two was Salomon and Alberto Smeke’s Salt Equities which bought the 12,560-square-foot, 16-unit rental (C1) on 115 Greenpoint Avenue and two other properties for $29 million from Red Brick Properties on December 30, 2019.
Of those six items, three were loans above $5 million totaling $43.4 million. The most recent of the three was Cayuga Capital Management which borrowed $5 million from Hirshmark Capital secured by the 14,400-square-foot, one-unit mixed-use building (K2) on 144 Greenpoint Avenue on October 29, 2020.

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