Adam Semler pays $7.85M to Athineos Enterprises for rentals in Brooklyn Heights

Adam Semler paid $7.85 million to Athineos Enterprises for two rental buildings in Brooklyn Heights in two separate transactions.

In the first, Adam Semler through the entity Or 274 Henry, LLC paid $4 million to Athineos Enterprises through the entity 274 Henry Associates, Inc. for eight-unit rental (C1) at 274 Henry Street in Brooklyn Heights, Brooklyn.
The deal closed on June 22, 2021 and was recorded on July 7, 2021.
The property has 6,000 square feet of built space and 0 square feet of additional air rights for a total buildable of 5,506 square feet according to PincusCo analysis of city data. The sale price per built square foot is $666 per the PincusCo analysis.
The signatory for Athineos Enterprises was Peter Athineos, Christopher Athineos, and Michele Pressman. The signatory for Adam Semler was Adam Semler.

The former owners according to the Department of Housing Preservation and Development included Peter Athineos, head officer and Christopher Athineos, officer. The business entity was 274 Henry Assocs Inc.
Within a 400-foot radius of 274 Henry Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
One of those three items was a sale which Greenbrook Partners bought the 9,000-square-foot, 18-unit rental (C1) on 269 Henry Street for $6.9 million from Raj Associates on January 15, 2021.
Of those three items, two were loans above $5 million totaling $37.4 million. The most recent of the two was Jack Kornblum which borrowed $6.3 million from New York Community Bank secured by the 12,024-square-foot, 25-unit rental (C1) on 20 Sidney Place on January 27, 2021.

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In the second transaction, Adam Semler through the entity Or 90 State, LLC paid $3.9 million to Athineos Enterprises through the entity 90 State Street Associates, Inc. for 14-unit rental (C1) at 90 State Street in Brooklyn Heights, Brooklyn.
The deal closed on June 22, 2021 and was recorded on July 7, 2021.
The property has 9,504 square feet of built space and 0 square feet of additional air rights for a total buildable of 8,748 square feet according to PincusCo analysis of city data. The sale price per built square foot is $405 per the PincusCo analysis.
The signatory for Athineos Enterprises was Peter Athineos, Christopher Athineos, and Michele Pressman. The signatory for Adam Semler was Adam Semler.

The former owners according to the Department of Housing Preservation and Development included Christopher Athineos, head officer and Peter Athineos, officer. The business entity was 90 State St Associates Incorporated.
Within a 400-foot radius of 90 State 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 July 29, 2020 for the $678,683 renovation of 4,390-square-foot R-3 building with two residential units at 115 Atlantic Avenue.
Of those four items, three were loans above $5 million totaling $61.9 million. The most recent of the three was Greenbrook Partners which borrowed $31.1 million from FS Investments and Rialto Capital Management secured by the 5,940-square-foot, five-unit rental (C2) on 287 Henry Street and nine other properties on January 26, 2021.

Direct link to Acris document. link