Adam Semler pays $10.6M for mixed-use building in Williamsburg, bought $74M in 2 years

Adam J. Semler through the entity Or 233 S 1, LLC paid $10.6 million to Richard Solomon through the entity First Roebling Properties, LLC for six-unit mixed-use building (S9) at 233 South 1st Street in Williamsburg, Brooklyn.
The deal closed on November 5, 2021 and was recorded on November 30, 2021.
Semler has paid a total of $74 million in 13 transactions over the last two years.
The property has 14,016 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $756 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 Richard Solomon was Richard Solomon. The signatory for Adam J. Semler was Adam J. Semler.

The former owners according to the Department of Housing Preservation and Development included Richard Solomon, head officer and Kevin Pruitt, site manager.

Within a 400-foot radius of 233 South 1st Street, PincusCo identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, one was for major renovation including a certificate of occupancy change. It was a permit issued on June 23, 2021 for the $495,800 renovation of 4,958-square-foot R-2 building with five residential units at 163 Roebling St.
One of those four items was a sale which 295 Big Street LLC bought the 4,787-square-foot, four-unit mixed-use building (S9) on 295 Grand Street for $5.6 million from Bethany Yarrow on August 31, 2021.
Of those four items, two were loans above $5 million totaling $91.6 million. The most recent of the two was Metropolitan Realty Group which borrowed $74.5 million from Orix Real Estate Capital secured by the 16,400-square-foot, 15-unit rental (D9) on 198 South 1st Street and 11 other properties on March 30, 2021.

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