Beitel Group pays $9M for commercial property in Mott Haven, four times 2007 price

Beitel Group through the entity 261 Grand Concourse LLC paid Brona McGirl and Nora O’Donoghue’s NOBR 261 LLC $9 million for 261 Grand Concourse in Mott Haven. The deal closed on August 13, 2020, and was recorded on August 25, 2020. The transaction consists of 1 parcel, including the tax class semi-fireproof manufacturing building (F4). The property is 20,480 square feet. The parcel(s) have total development potential of 61,653 square feet.
The average sale price per square foot is $146. The last sale price for the building from 2007 was $2 million.

The contract date was February 19, 2020. Binyamin Beitel was the signatory for the Beitel Group, a single-family office based in Brooklyn which used to operate under the name Besyata Investment Group.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on July 17, 2013.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $10,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Binyamin Beitel