Aran Scott pays $2.5M for three-family in South Slope

Aran Scott through the entity 359 13th LLC paid $2.5 million to Barbara Z. Michaels for three-unit building (C0) at 359 13th Street in South Slope, Brooklyn.
The deal closed on March 6, 2023 and was recorded on March 20, 2023. The property has 2,440 square feet of built space and 2,550 square feet of additional air rights for a total buildable of 5,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,024 and the price per buildable square foot is $500 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 signatory for Barbara Z. Michaels was Barbara Z. Michaels. The signatory for Aran Scott was Aran Scott.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Aran Scott purchased three properties in three transactions for a total of $10.7 million and has no record he sold any properties over the past 24 months.
The seller Barbara Z. Michaels 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 Czeslawa Betleja, individual owner and Barbara Betleja, Michaels, site manager.

The property

The 359 13th Street parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 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 $2.2 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property since September of 2020. 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 $5 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of six of the 20 commercial properties representing 33,440 square feet of the 104,243 square feet. The largest owner is Susan R. Miller, followed by Jonathan Holman and then Greenbrook Partners.
On the tax block, there were three new building construction projects totaling 9,468 square feet. The largest is a three-unit, 4,958-square-foot R-2 building developed by Susan Miller with plans filed September 21, 2015 and it has not been permitted yet.The second largest is a four-unit, 4,510-square-foot R-2 building developed by Artem Golynkin with plans filed September 8, 2020 and it has not been permitted yet.

The majority, or 83 percent of the 104,243 square feet of built space are walkup buildings, with mixed-use buildings next occupying 17 percent of the space.

The buyer

The PincusCo database currently indicates that Aran Scott owned at least three commercial properties in New York City with 14,630 square feet and a city-determined market value of $6.2 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are C3 properties. They are all located in Brooklyn.

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