Salvation Church of God pays $20.6M to Vona Capital Group for likely dev site in Mill Basin

Salvation Church of God through the entity Salvation Church Of God, Inc. paid $20.6 million to Vona Capital Group through the entity Strickland Realty Group, LLC for the property (G1) at 6065 Strickland Avenue and the property (G6) at 6075 Strickland Avenue in Mill Basin, Brooklyn.
The deal closed on January 14, 2026 and was recorded on January 26, 2026. The two properties have 2,400 square feet of built space and 56,120 square feet of additional air rights for a total buildable of 58,172 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $8,572 and the price per buildable square foot is $353 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 Vona Capital Group was Joseph S. Vona . The signatory for Salvation Church of God was Malory Laurent . The contract date was June 12, 2024.

Crain’s reported on this transaction yesterday.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Salvation Church of God had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Vona Capital Group had not purchased any other properties and sold one property in one transaction for a total of $3.4 million over the same time period.

The property

The property in Mill Basin has 2,400 square feet of built space and 56,120 square feet of additional air rights for a total buildable of 58,172 square feet according to a PincusCo analysis of city data. The parcel has frontage of 305 feet and is 520 feet deep with a total lot size of 102,559 square feet. The lot is irregular. The zoning is R3-1 which allows for up to 0.5 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $7.5 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $1,250 in ECB penalties in the last year.

Development

For the tax lot buildings, one out of the two buildings received a initial certificate of occupancy in the last ten years. 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 the tax block of 6065 Strickland Avenue, PincusCo has identified the owners of 13 of the 40 commercial properties representing 2,874,246 square feet of the 3,082,194 square feet. The largest owner is Macy’S Inc., followed by Target Corporation and then Brookfield Properties.
On the tax block, there were two new building construction projects totaling 113,901 square feet. The largest is a 103,179 square-foot educational (E) building submitted by Paul Grosman with plans filed September 18, 2015 and permitted July 31, 2018. The second largest is a 10,722 square-foot assembly (A-2) building submitted by Anthony Williams with plans filed October 26, 2018 and it has not been permitted yet.

The majority, or 78 percent of the 3.1 million square feet of built space are mixed-use buildings, with specialty buildings next occupying 8 percent of the space.

The seller

The PincusCo database currently indicates that Vona Capital Group owned at least three commercial properties in New York City with 79,891 square feet and a city-determined market value of $10.9 million. (Market value is typically about 50% of actual value.) The portfolio has $26.2 million in debt, borrowed from Bank of America. Within the portfolio, the bulk, or 73 percent of the 79,891 square feet of built space are industrial properties, with office properties next occupying 27 percent of the space. They are all located in Brooklyn.

The buyer

The PincusCo database currently indicates that Salvation Church Of God owned at least one commercial property in New York City with 13,585 square feet and a city-determined market value of $1.4 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single P2 property. It is located in Brooklyn.

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