Alexandra Levy pays $10M to Phillip Miller for retail in Williamsburg

Alexandra Levy through the entity 703 Myrtle LLC paid $10 million to Phillip Miller through the entity Bedford North 1 LLC for the retail building (O5) at 276 Bedford Avenue in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on June 30, 2025 and was recorded on July 9, 2025. The property has 7,899 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,265 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 seller bought the property on May 15, 2020, for $4.2 million. The signatory for Phillip Miller was Phillip Miller. The signatory for Alexandra Levy was Alexandra Levy. The contract date was April 7, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Alexandra Levy had purchased any other properties and sold one property in one transaction for a total of $10.8 million over the past 24 months.
The seller Phillip Miller purchased one property in one transaction for a total of $2.4 million and sold one property in one transaction for a total of $2.2 million over the same time period. The 7,899-square-foot property generated revenue of $351,111 or $44 per square foot, according to the most recent income and expense figures.

The property

The retail building in Williamsburg has 7,899 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 83 feet and is 35 feet deep with a total lot size of 2,736 square feet. The lot is irregular. 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 $274,000.

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 received $250 in OATH penalties in the last year.

Development

On the lot, there is one active new building construction project, B00480477, for a 5,430 square-foot B building. The project was submitted by Philip Miller with plans filed March 23, 2021 and permitted January 12, 2022.

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 4th highest sale turnover among other neighborhoods in the city with $1.9 billion in sales volume in the last two years. For development, Williamsburg is the most active neighborhood among other neighborhoods. It had 41.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of five of the 21 commercial properties representing 23,828 square feet of the 105,938 square feet. The largest owner is Manjula Mukhopadhyay, followed by Mordehy Haber and then Felix Shepeluk.
On the tax block, there was one new building construction project filed totaling 5,430 square feet. It is a 5,430 square-foot business (B) building submitted by Philip Miller with plans filed March 23, 2021 and permitted January 12, 2022.

The majority, or 51 percent of the 105,938 square feet of built space are mixed-use buildings, with walkup buildings next occupying 49 percent of the space.

The seller

The PincusCo database currently indicates that Phillip Miller owned at least 18 commercial properties with 105 residential units in New York City with 86,516 square feet and a city-determined market value of $19.7 million. (Market value is typically about 50% of actual value.) The portfolio has $25.3 million in debt, borrowed from Ponce Bank and Signature Bank. Within the portfolio, the bulk, or 86 percent of the 86,516 square feet of built space are walkup properties, with elevator properties next occupying 9 percent of the space. They are all located in Brooklyn.

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