Ascenterra Development pays $2.1M for 3-family in Carroll Gardens

Ascenterra Development through the entity 491 Court, LLC paid $2.1 million for the three-unit building (B1) at 491 Court Street in Carroll Gardens, Brooklyn. The expected use is cash flowing.
The deal closed on February 11, 2026 and was recorded on February 24, 2026. The property has 3,528 square feet of built space and 1,154 square feet of additional air rights for a total buildable of 4,680 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $595 and the price per buildable square foot is $448 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 February 8, 2021, for $1.9 million. The signatories for the sellers were Edward Paul Stelz, Laura Elizabeth Bracey, Haley Marie Falkenberry, and Christian Nicholas Francis Vitulli. The signatory for Ascenterra Development was Aran Scott . The contract date was July 14, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Ascenterra Development purchased two properties in two transactions for a total of $9.8 million and has no record it sold any properties over the past 24 months.
The seller Edward Paul Stelz 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 Edward Stelz, individual owner and Christian Vitulli, site manager.

The property

The 1-4 family building with 3 residential units in Carroll Gardens has 3,528 square feet of built space and 1,154 square feet of additional air rights for a total buildable of 4,680 square feet according to a PincusCo analysis of city data. The parcel has frontage of 19 feet and is 80 feet deep with a total lot size of 1,560 square feet. The zoning is R6A which allows for up to 3 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 for the past 24 months. In addition, according to city public data, the property has received $100 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

There are no active new building construction projects on this tax block.

All properties are mixed-use.

The buyer

The PincusCo database currently indicates that Ascenterra Development owned at least two commercial properties with nine residential units in New York City with 9,556 square feet and a city-determined market value of $3.9 million. (Market value is typically about 50% of actual value.) The portfolio has $5.2 million in debt, borrowed from Renovo Financial. Within the portfolio, the bulk, or 58 percent of the 9,556 square feet of built space are C3 properties, with walkup properties next occupying 42 percent of the space. They are all located in Brooklyn.

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