Argentina-based Urbana Partners pays $24.2M to Tryline for 4 rentals in East Williamsburg

Buenos Aires-based Urbana Partners paid $24.2 million to Tryline Capital Management for three residential walkups and one elevator building in East Williamsburg, Brooklyn, in two separate transactions.

In the first, Urbana Partners through the entity Ewp 64-68 Maspeth LLC paid $12.2 million to Tryline Capital Management through the entity 64 Tryline LLC for the eight-unit residential walkup building (C1) at 64 Maspeth Avenue in East Williamsburg, Brooklyn, eight-unit residential walkup building (C1) at 66 Maspeth Avenue in East Williamsburg, Brooklyn, and eight-unit residential walkup building (C1) at 68 Maspeth Avenue in East Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on June 26, 2025 and was recorded on July 11, 2025. The three properties have 22,500 square feet of built space for a total buildable of 22,500 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $543 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 64, 66, 68 Maspeth Avenue on January 27, 2022, for $15.7 million.

In the second, Urbana Partners through the entity Ewp 65 Maspeth LLC paid $12 million to Tryline Capital Management through the entity 65 Tryline LLC for the 21-unit residential elevator building (D7) at 65 Maspeth Avenue in East Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on June 26, 2025 and was recorded on July 11, 2025. The property has 28,430 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $421 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 65 Maspeth Avenue on January 27, 2022, for $15.4 million.

The signatory for Tryline Capital Management was Jaryn Horner. The signatory for Urbana Partners was Frederico Wilensky. The contract date was February 27, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Urbana Partners had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Tryline Capital Management 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 Jaryn Horner, head officer and William Harsh, officer. The business entities are Lisa Management, Inc and 64 Tryline Llc. The three properties with a total of 22,500 square feet of built space generated revenue of $639,900 per year or $28 per square foot. The sale price per square foot was $543.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received one housing violation and $950 in OATH penalties 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 the tax block of 64 Maspeth Avenue, PincusCo has identified the owners of nine of the 17 commercial properties representing 75,585 square feet of the 96,780 square feet. The largest owner is Tryline Capital Management, followed by Cheskel Wieder and then Flatiron Real Estate Advisors.

The majority, or 68 percent of the 96,780 square feet of built space are walkup buildings, with elevator buildings next occupying 24 percent of the space.

The seller

The PincusCo database currently indicates that Tryline Capital Management owned at least five commercial properties with 66 residential units in New York City with 64,430 square feet and a city-determined market value of $12.4 million. (Market value is typically about 50% of actual value.) The portfolio has $16.5 million in debt, borrowed from Societe Generale. Within the portfolio, the bulk, or 65 percent of the 64,430 square feet of built space are elevator properties, with walkup properties next occupying 35 percent of the space. They are all located in Brooklyn.

Direct link to Acris document. 64 Maspeth Avenue, 66 Maspeth Avenue, and 68 Maspeth Avenue
Direct link to Acris document. 65 Maspeth Avenue