Alan Laytner pays $2.3M for 3-family in Windsor Terrace

Alan Laytner through the entity 549 16th Street LLC paid $2.3 million for the three-unit 1-4 family building (C0) at 549 16th Street in Windsor Terrace, Brooklyn.
The deal closed on May 21, 2024 and was recorded on May 23, 2024. The property has 3,334 square feet of built space and 49 square feet of additional air rights for a total buildable of 3,373 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $697 and the price per buildable square foot is $689 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 signatories for the seller were Rene Babich and Joseph Babich. The signatory for Alan Laytner was Alan Laytner. The contract date was March 25, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Alan Laytner had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Rene Babich had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Rene Babich Dumas, head officer and Susanne Gennusa, officer. The business entity is Rene Babich Dumas And Susanne Gennusa As Trustees.

The property

The 1-4 family building with 3 residential units in Windsor Terrace has 3,334 square feet of built space and 49 square feet of additional air rights for a total buildable of 3,373 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 2,499 square feet. The zoning is R5B which allows for up to 1.35 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.7 million.

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.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of six of the nine commercial properties representing 82,068 square feet of the 141,528 square feet. The largest owner is Richard Barsky, followed by Greenbrook Partners and then Edmund Gallahue Trustee.
On the tax block, there was one new building construction project filed totaling 6,109 square feet. It is a five-unit, 6,109 square-foot residential (R-2) building submitted by Aleksandr Finkelshteyn and filed by Aleksandr Finkelshteyn with plans filed September 8, 2021 and permitted August 10, 2022.

The majority, or 68 percent of the 141,528 square feet of built space are elevator buildings, with walkup buildings next occupying 19 percent of the space.

Direct link to Acris document. link