Adriel Bolour signs $5.2M construction loan with Derby Copeland for 6-unit resi conversion in Greenpoint

Adriel Bolour through the entity Bsd 726 Manhattan LLC as borrower signed a new construction loan with lender Derby Copeland Capital through the entity Dcc Remmcf Originator, LLC valued at $5.2 million for six-unit residential conversion project at 726 Manhattan Avenue in Greenpoint, Brooklyn.

Adriel Bolour submitted a major alteration application for the conversion of the single-story commercial (COM) building at 726 Manhattan Avenue in Greenpoint, Brooklyn with no residential units to an six-story building with six residential units. The plan was filed with the New York City Department of Buildings on November 10, 2025 under job number B01278224. It call for the increase in size of the building from a one-story building with no dwelling units to a one-story building with 6 dwelling units. The project is described in the filing as: note: respectfully requesting to assign to same plan examiner as alt co #b00992781-i1 since its similar scope/same applicant/same owner/same filing rep. application filed for vertical & horizontal addition &interior renovations to existing brick building.
The deal closed on March 25, 2026 and was recorded on May 8, 2026. The property has 1,450 square feet of built space and 6,050 square feet of additional air rights for a total buildable of 7,500 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $3,551 and the price per buildable square foot is $686 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 owner bought the property on March 25, 2026, for $2.9 million. The signatory for Adriel Bolour was Adriel Bolour.

Prior sales, articles and revenue

The 1,450-square-foot property generated revenue of $54,019 or $37 per square foot, according to the most recent income and expense figures.

The property

The retail building in Greenpoint has 1,450 square feet of built space and 6,050 square feet of additional air rights for a total buildable of 7,500 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is C4-3A which allows for up to 3 times floor area ratio (FAR) for commercial and up to 3 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $230,000.

Transaction Participants

Nicholas T. Donovan at Donovan LLP participated in the transaction on behalf of the lender.

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.

The neighborhood

In Greenpoint, The bulk, or 29 percent of the 23.8 million square feet of commercial built space are walkup buildings, with industrial buildings next occupying 26 percent of the space. In sales, Greenpoint has 2.7 times the average sales volume among other neighborhoods with $927 million in sales volume in the last two years and is the 4th highest in Brooklyn. For development, Greenpoint has 2 times the average amount of major developments relative to other neighborhoods and is the 4th highest in Brooklyn. It had 3.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 13 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 15 of the 29 commercial properties representing 85,649 square feet of the 155,440 square feet. The largest owner is Ezra Mashaal, followed by Richard Musial and then Yolanda Zieba Czajkowski.
There are no active new building construction projects on this tax block.

The majority, or 63 percent of the 155,440 square feet of built space are mixed-use buildings, with walkup buildings next occupying 22 percent of the space.

The borrower

The PincusCo database currently indicates that Adriel Bolour owned at least one commercial property in New York City with 1,450 square feet and a PincusCo-determined asset value of $6.8 million. The portfolio consists of at least a single retail property.

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