Abraham Herzog pays $2.5M 7-unit rental in East New York

Abraham Herzog through the entity Thg 101 LLC paid $2.5 million to Shea Sigal, Solomon Wertzberger, and Mirel Sigal through the entity S & S Miller Holdings, LLC for a seven-unit rental at 275 Miller Avenue in East New York, Brooklyn.
The deal closed on November 22, 2021 and was recorded on December 16, 2021.
The property has 5,320 square feet of built space and 1,450 square feet of additional air rights for a total buildable of 6,750 square feet according to PincusCo analysis of city data. The sale price per built square foot is $469 and the price per buildable square foot is $370 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 Shea Sigal, Solomon Wertzberger, and Mirel Sigal was Shea Sigal. The signatory for Abraham Herzog was Abraham Herzog.
(321400462)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 7 residential units on September 3, 2021.
Solomon Wertzberger and Mirel Sigal have signed on previous mortgages for the property.

Within a 400-foot radius of 275 Miller Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was for major renovation including a certificate of occupancy change. It was a permit issued on May 21, 2021 for the $4.2 million renovation of 27,865-square-foot R-1 building with 11 residential units at 486 Liberty Avenue.
One of those two items was a loan which Maxim Properties borrowed $9.9 million from Liberty Lenders secured by the 15,750-square-foot, one-unit development site (M1) on 486 Liberty Avenue on May 11, 2021.

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