Active small rental buyer pays $11.3M to Urban View for four Brooklyn walkups

The entity Townhouse Rental II, L.L.C. paid $11.3 million to Urban View Development for four walkup buildings in Bedford-Stuyvesant and Bushwick that have a total of 27 units, in four separate transactions. Prior to this transaction, the buyer Townhouse Rental II, L.L.C. purchased 18 properties in 18 transactions for a total of $64 million and had not sold any properties over the past 24 months.

In the first, Townhouse Rental II, L.L.C. paid $3 million to Urban View Development Group through the entity Marion Street Properties LLC for seven-unit residential walkup building at 90 Marion Street in Bed Stuy, Brooklyn.
The deal closed on January 31, 2022 and was recorded on February 11, 2022.
The property has 5,568 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $547 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 August 29, 2013, for $390,000.
The signatory for Urban View Development Group was Nadav Hamo. The signatory for Townhouse Rental II, L.L.C. was Carter Martin.

The seller Urban View Development Group had not purchased any other properties and sold two properties in two transactions for a total of $7.5 million over the same time period.
(320592293)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 7 residential units on November 18, 2016. (320592293) Plans for a 7-unit, 5,398 square-foot R-2 were filed on November 6, 2013 and were permitted on May 28, 2015.
Nadav Hamo is the chairman of the board of directors of Urban View Development Group.
In Bed Stuy, the bulk, or 38 percent of the 92.5 million square feet of built space are 1-4 family buildings, with residential elevator buildings next occupying 20 percent of the space. In sales, Bed Stuy has 1.5 times the average sales volume among other neighborhoods with $417.3 million in sales volume in the last two years and is the 6th highest in Brooklyn. For development, Bed Stuy is the 8th most active neighborhood among other neighborhoods. It had 4.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space. There were nine pre-foreclosure suit filed among other residential walkup buildings in the past 12 months.
On the tax block, the majority, or 38 percent of the 178,405 square feet of built space are specialty buildings, with 1-4 family buildings next occupying 30 percent of the space.
The owners according to the Department of Housing Preservation and Development includes Nadav Hamo, head officer and Mendy Deutsch, agent. The business entity is Marion Street Properties Llc.
Within a 400-foot radius of 90 Marion Street, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Providence Care borrowed $9.3 million from Sterling National Bank secured by the 0-square-foot industrial (G7) on FULTON Street and 14 other properties on August 19, 2020.

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In the second, Townhouse Rental II, L.L.C. through the entity Townhouse Rental Ii, L.L.C paid $3 million to Urban View Development Group through the entity Lexington Street Properties LLC for eight-unit residential walkup building at 812 Lexington Avenue in Bed Stuy, Brooklyn.
The deal closed on January 31, 2022 and was recorded on February 11, 2022.
The property has 6,569 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $450 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 June 26, 2013, for $310,000.
The signatory for Urban View Development Group was Nadav Hamo. The signatory for Townhouse Rental II, L.L.C. was Carter Martin.
Prior to this transaction, the buyer Townhouse Rental II, L.L.C. purchased 18 properties in 18 transactions for a total of $64 million and had not sold any properties over the past 24 months.
The seller Urban View Development Group had not purchased any other properties and sold two properties in two transactions for a total of $7.5 million over the same time period.
The 6,569-square-foot property generated revenue of $111,542 or $17 per square foot, according to the most recent income and expense figures.

(320613378)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 8 residential units on May 26, 2016. (320613378) Plans for a 8-unit, 5,399 square-foot R-2 were filed on October 16, 2013 and were permitted on December 5, 2014.
In Bed Stuy, the bulk, or 38 percent of the 92.5 million square feet of built space are 1-4 family buildings, with residential elevator buildings next occupying 20 percent of the space. In sales, Bed Stuy has 1.5 times the average sales volume among other neighborhoods with $417.3 million in sales volume in the last two years and is the 6th highest in Brooklyn. For development, Bed Stuy is the 8th most active neighborhood among other neighborhoods. It had 4.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space. There were nine pre-foreclosure suit filed among other residential walkup buildings in the past 12 months.
On the tax block, the majority, or 38 percent of the 323,253 square feet of built space are residential elevator buildings, with 1-4 family buildings next occupying 35 percent of the space.

Direct link to Acris document. link

In the third, Townhouse Rental II, L.L.C. through the entity Townhouse Rental Ii, L.L.C paid $2.9 million to Urban View Development Group through the entity Jefferson Troutman 2012 LLC for six-unit residential walkup building at 39 Troutman Street in Bushwick, Brooklyn.
The deal closed on January 31, 2022 and was recorded on February 11, 2022.
The property has 5,104 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $562 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 May 23, 2012, for $250,000.
The signatory for Urban View Development Group was Nadav Hamo. The signatory for Townhouse Rental II, L.L.C. was Carter Martin.
Prior to this transaction, the buyer Townhouse Rental II, L.L.C. purchased 18 properties in 18 transactions for a total of $64 million and had not sold any properties over the past 24 months.
The seller Urban View Development Group had not purchased any other properties and sold two properties in two transactions for a total of $7.5 million over the same time period.
The 5,104-square-foot property generated revenue of $101,825 or $20 per square foot, according to the most recent income and expense figures.

(310054981)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 6 residential units on November 25, 2013. (310054981) Plans for a 6-unit, 0 square-foot J-2 were filed on November 20, 2007 and were permitted on December 18, 2012.
In Bushwick, the bulk, or 32 percent of the 51.4 million square feet of built space are 1-4 family buildings, with residential walkup buildings next occupying 29 percent of the space. In sales, Bushwick has 3.3 times the average sales volume among other neighborhoods with $910.2 million in sales volume in the last two years and is the 3rd highest in Brooklyn. For development, Bushwick has 1.2 times the average amount of major developments relative to other neighborhoods and is the 18th highest in Brooklyn. It had 1.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space. There were 11 pre-foreclosure suit filed among other residential walkup buildings in the past 12 months.
On the tax block, the majority, or 61 percent of the 242,764 square feet of built space are residential walkup buildings, with 1-4 family buildings next occupying 23 percent of the space.
The owners according to the Department of Housing Preservation and Development includes Nadav Hamo, head officer and Ortal Assis, officer. The business entity is Jefferson Troutman 2012 Llc.
Within a 400-foot radius of 39 Troutman Street, Pincusco identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, one was in new building development. It was a new building permit application filed on May 5, 2020 for a 29,095-square-foot R-2 building with 46 residential units at 21 Charles Place.
Of those five items, four were loans above $5 million totaling $95.1 million. The most recent of the four was Wildenstein & Co. which borrowed $30 million from JPMorgan Chase secured by the 91,366-square-foot, 99-unit rental (D1) on 626 Bushwick Avenue on March 31, 2021.

Direct link to Acris document. link

In the fourth, Townhouse Rental II, L.L.C. through the entity Townhouse Rental Ii, L.L.C paid $2.5 million to Urban View Development Group through the entity Jefferson Troutman 2012 LLC for six-unit residential walkup building at 56 Jefferson Street in Bushwick, Brooklyn.
The deal closed on January 31, 2022 and was recorded on February 11, 2022.
The property has 5,104 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $484 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 May 23, 2012, for $250,000.
The signatory for Urban View Development Group was Nadav Hamo. The signatory for Townhouse Rental II, L.L.C. was Carter Martin.
Prior to this transaction, the buyer Townhouse Rental II, L.L.C. purchased 18 properties in 18 transactions for a total of $64 million and had not sold any properties over the past 24 months.
The seller Urban View Development Group had not purchased any other properties and sold two properties in two transactions for a total of $7.5 million over the same time period.
The 5,104-square-foot property generated revenue of $101,825 or $20 per square foot, according to the most recent income and expense figures.

(310152839)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 6 residential units on December 17, 2013. (310152839) Plans for a 6-unit, 3,488 square-foot J-2 were filed on June 4, 2008 and were permitted on December 7, 2012.
In Bushwick, the bulk, or 32 percent of the 51.4 million square feet of built space are 1-4 family buildings, with residential walkup buildings next occupying 29 percent of the space. In sales, Bushwick has 3.3 times the average sales volume among other neighborhoods with $910.2 million in sales volume in the last two years and is the 3rd highest in Brooklyn. For development, Bushwick has 1.2 times the average amount of major developments relative to other neighborhoods and is the 18th highest in Brooklyn. It had 1.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space. There were 11 pre-foreclosure suit filed among other residential walkup buildings in the past 12 months.
On the tax block, the majority, or 61 percent of the 242,764 square feet of built space are residential walkup buildings, with 1-4 family buildings next occupying 23 percent of the space.
The owners according to the Department of Housing Preservation and Development includes Nadav Hamo, head officer and Ortal Assis, officer. The business entity is Jefferson Troutman 2012 Llc.
Within a 400-foot radius of 56 Jefferson Street, Pincusco identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, two were for major renovation including a certificate of occupancy change. They were one permit applications with a total initial cost of $299,963 and one permit with a total initial cost of $461,000. The most recent of these two items was the filing on January 27, 2022 for a 62,761-square-foot R-2 building with 64 residential units at 600 Bushwick Avenue.
Of those six items, four were loans above $5 million totaling $95.1 million. The most recent of the four was Wildenstein & Co. which borrowed $30 million from JPMorgan Chase secured by the 91,366-square-foot, 99-unit rental (D1) on 626 Bushwick Avenue on March 31, 2021.

Direct link to Acris document. link