Affiliate of Walter Steiger shoe store pays $9.3M to Howard Wasserman for 7-unit in Williamsburg

The Walter Steiger shoe affiliate WPA Realty, Inc. paid Howard Wasserman’s North 7 Acquisition LLC $9.3 million for 205 North 7th Street in Williamsburg. The deal closed on May 12, 2020, and was recorded on May 15, 2020. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing seven residential units. The property is 7,493 square feet. The parcel(s) have total development potential of 7,493 square feet.
The average sale price per square foot is $1,241.

The transfer lists the contract date as May 11, 2020, one of only a handful of properties to go into contract and close during the pandemic. The signatory for the transaction is Lee R. Robins, of the accountant firm Farkouh, Furman & Faccio. This appears to be a 1031 exchange, because on February 18, 2020, WPA Realty sold a commercial cooperative unit in 417 Park Avenue for $10.05 million as part of the $184 million sale to GDS Development Management and Klövern AB.

The last time the property sold was May 9, 2011, for $4,219,904.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 7 residential units on October 30, 2015.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link