540 Driggs Avenue

Owner: Corner Street Capital

Acquired: September 19, 2022, $8.9 million

Debt: September 19, 2022, $54 million

Built: 1910

Renovated: 2017

SF: 5,441

Dwelling units: 7

No. of buildings: 1

Class: Over Six Families Without Stores (C1)

Floors: 4

Transactions:

• Corner Street Capital borrowed $54 million from Customers Bank for 540 Driggs Avenue, 58 Palmetto Street, 209 Montrose Avenue, 725 Metropolitan Avenue, 183 Ainslie Street, and others, Williamsburg, Brooklyn on September 19, 2022.

• Joel Schwartz sold 540 Driggs Avenue, Williamsburg, Brooklyn for $8.9 million to Corner Street Capital on September 19, 2022.

• Joel Schwartz borrowed $6.4 million from Customers Bank for 540 Driggs Avenue, Williamsburg, Brooklyn on January 03, 2022.

Development:

• Jerome Zwick filed plans for alteration in Williamsburg, Brooklyn, on April 15, 2024.

• Zelman Pollak filed plans for alteration in Williamsburg, Brooklyn, on November 07, 2018.

• Charles Schwartz filed plans for alteration in Williamsburg, Brooklyn, on February 07, 2020.

• Charles Schwartz filed plans for alteration in Williamsburg, Brooklyn, on October 10, 2019.

• Charles Schwartz filed plans for alteration in Williamsburg, Brooklyn, on December 01, 2020.

Violations:

According to city public data, the properties have received $2,450 in OATH penalties in the last year.