Brian Donnelley, CEO of KAWS pays $17M to Jack Sitt’s Colt Equities for property in Williamsburg

Brian Donnelley, CEO of KAWS through the entity New Fiction LLC paid Jack Sitt’s Colt Equities’s Colt 93 North 9th Street LLC $17.0 million for 93 North 9th Street in Williamsburg. The deal closed on November 13, 2019, and was recorded on November 20, 2019. The transaction consists of 1 parcel, including the tax class 1-story office building (O1). The property is 10,200 square feet. The parcel(s) have total development potential of 20,000 square feet.
The average sale price per square foot is $850.
The estimated cap rate is 1.0%
The last time the property sold was January 9, 2015, for $8,350,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $166,050.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link