4-family in Carroll Gardens sells for $4.8M

The entity 294 Degraw L.L.C. paid $4.8 million to the Musarella family for the four-unit building (C3) at 294 Degraw Street in Carroll Gardens, Brooklyn.
The deal closed on February 12, 2025 and was recorded on March 3, 2025. The property has 2,850 square feet of built space and 2,150 square feet of additional air rights for a total buildable of 5,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,701 and the price per buildable square foot is $970 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Santo Musarella was Daniela Musarella-Kelley. The signatory for the buyer was an attorney, Matthew Goldgrub . The contract date was November 19, 2024.

Prior sales and revenue

The seller Santo Musarella had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Daniela Musarella-Kelley, head officer and Cecilio Paguay, site manager. The business entities are Triumph Property Group, Ltd. and Rev. Trust Agreement Of Santo Musarella. The 2,850-square-foot property generated revenue of $117,705 or $41 per square foot, according to the most recent income and expense figures.

The property

The 1-4 family building with 4 residential units in Carroll Gardens has 2,850 square feet of built space and 2,150 square feet of additional air rights for a total buildable of 5,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.4 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of one of the nine commercial properties representing 3,380 square feet of the 30,125 square feet. The identified owner is Noto & Noto Registered.
There are no active new building construction projects on this tax block.

The majority, or 89 percent of the 30,125 square feet of built space are mixed-use buildings, with industrial buildings next occupying 11 percent of the space.

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