Albert Dayan pays $2.3M for 3-unit mixed-use in Williamsburg

Albert Dayan through the entity 105 Roebling Aretz LLC paid $2.3 million for the three-unit mixed-use building (S3) at 105 Roebling Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on October 8, 2024 and was recorded on December 11, 2024. The property has 2,625 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $876 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 sellers were Rosaria A. Miceli, Vicenza Giordano, and Lanella Mekovich. The signatory for Albert Dayan was Albert Dayan. The contract date was July 18, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Albert Dayan purchased five properties in five transactions for a total of $13.7 million and has no record it sold any properties over the past 24 months.
The seller Rosaria A. Miceli had not purchased any other properties and had not sold any properties over the same time period.

The property

The mixed-use building with 3 residential units in Williamsburg has 2,625 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 50 feet deep with a total lot size of 1,250 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.2 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 neighborhood

In Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 5th highest sale turnover among other neighborhoods in the city with $2 billion in sales volume in the last two years. For development, Williamsburg is the 10th most active neighborhood among other neighborhoods. It had 4.7 million square feet of commercial and multi-family construction under development in the last two years, which represents 9 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 10 of the 16 commercial properties representing 93,232 square feet of the 111,757 square feet. The largest owner is Double U Realty, followed by Manjula Mukahopadhyay and then Jesse Chan.
There are no active new building construction projects on this tax block.

The majority, or 51 percent of the 111,757 square feet of built space are walkup buildings, with elevator buildings next occupying 38 percent of the space.

The buyer

The PincusCo database currently indicates that Albert Dayan owned at least five commercial properties with 10 residential units in New York City with 16,635 square feet and a city-determined market value of $10.6 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are mixed-use properties. They are all located in Brooklyn.

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