Brooklyn Preschool of Science through the entity Arcr78, LLC paid $5.2 million to Vega Properties through the entity Vega 12, LLC for a commercial condominium at 78 Amity Street in Cobble Hill, Brooklyn.
The deal closed on July 18, 2022 and was recorded on August 8, 2022. The condo has 6,241 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $830 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 Vega Properties was Allen Schifino. The signatory for Brooklyn Preschool of Science was Carmelo Piazza and Karen Piazza. Brooklyn Preschool of Science is a preschool. This is the 6,241-square-foot community facility unit on the first floor.
Prior sales and revenue
Prior to this transaction, Pincusco has no record that the buyer Brooklyn Preschool of Science had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Vega Properties had not purchased any other properties and had not sold any properties over the same time period.
The 78 Amity Street commercial condo has a total lot size of 6,241 square feet. The city-designated market value for the property in 2022 is $2.6 million.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the properties since September of 2020. In addition, according to city public data, the properties have not received any significant violations in the last year.
There are no active new building construction projects or major alteration projects with initial costs more than $5 million on this tax lot.
On the tax block of 78 Amity Street, PincusCo has identified the owners of two of the 10 commercial properties representing 7,524 square feet of the 41,116 square feet. The two identified owners are Timothy Myers and Brian Elgart.
There are no active new building construction projects on this tax block.
The majority, or 52 percent of the 41,116 square feet of built space are walkup buildings, with specialty buildings next occupying 27 percent of the space.
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