Accelerate Investment Partners pays $3.4M to Vona Capital for industrial in Canarsie

Accelerate Investment Partners through the entity Aio Remsen, LLC paid $3.4 million to Vona Capital Group through the entity Foster Remsen Realty, LLC for the industrial building (G2) at 965 Remsen Avenue in Canarsie, Brooklyn. The expected use is ground up development.
The deal closed on April 10, 2025 and was recorded on April 15, 2025. The property has 2,660 square feet of built space and 9,360 square feet of additional air rights for a total buildable of 12,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,259 and the price per buildable square foot is $279 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 seller bought the property on July 18, 2022, for $2.5 million. The signatory for Vona Capital Group was Agostino Vona . The signatory for Accelerate Investment Partners was Tyler Levy . The contract date was May 10, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Accelerate Investment Partners purchased one property in one transaction for a total of $4.3 million 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 had not sold any properties over the same time period.

The property

The industrial building in Canarsie has 2,660 square feet of built space and 9,360 square feet of additional air rights for a total buildable of 12,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 120 feet deep with a total lot size of 12,000 square feet. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $1.5 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 neighborhood

In Canarsie, The bulk, or 28 percent of the 11.7 million square feet of commercial built space are elevator buildings, with industrial buildings next occupying 25 percent of the space. In sales, Canarsie has the 39th highest sale turnover among other neighborhoods in Brooklyn with $69.3 million in sales volume in the last two years. For development, Canarsie has had very little major development activity relative to other neighborhoods.It had 127,513 square feet of commercial and multi-family construction under development in the last two years, which represents 1 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of five of the 14 commercial properties representing 107,660 square feet of the 135,104 square feet. The largest owner is Jacob Brauner, followed by Solomon Fried and then Agostino Vona.
There are no active new building construction projects on this tax block.

The majority, or 92 percent of the 135,104 square feet of built space are industrial buildings, with mixed-use buildings next occupying 5 percent of the space.

The buyer

The PincusCo database currently indicates that Accelerate Investment Partners owned at least one commercial property in New York City and a city-determined market value of $584,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single industrial property.

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