All Year Management hotel site sold for $3M plus $9M in debt

The entity J Stewart Realty LLC paid All Year Management’s Flushing Stewart LLC $3 million and it paid $9 million for debt secured by the property to acquire 25 Stewart Avenue in East Williamsburg, Brooklyn. The deal closed on December 24, 2020 and was recorded on December 31, 2020. The transaction consists of 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1). There are permitted plans for a 140-key hotel with 94,313-square-foot building that were filed in 2015.

The entity J. Stewart Realty has an address at a downtown Manhattan law firm of Jeffrey Zwick.

All Year bought the site on March 12, 2019, for $14,300,000.

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