Bushwack Capital pays $3M for 3-family in Carroll Gardens

Bushwack Capital through the entity Samasen LLC paid $3 million through an estate sale for the three-unit building (C0) at 357 Degraw Street in Carroll Gardens, Brooklyn. The expected use is cash flowing.
The deal closed on February 27, 2026 and was recorded on March 2, 2026. The property has 2,720 square feet of built space and 787 square feet of additional air rights for a total buildable of 3,500 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,101 and the price per buildable square foot is $855 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 the late Irene Fallon was Elizabeth Fallon. The signatory for Bushwack Capital was Stephen Siminou . The contract date was September 22, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Bushwack Capital had purchased any other properties and sold one property in one transaction for a total of $3.8 million over the past 24 months.
The estate of Irene Fallon 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 Irene Fallon, joint owner and James Fallon, joint owner.

The property

The 1-4 family building with 3 residential units in Carroll Gardens has 2,720 square feet of built space and 787 square feet of additional air rights for a total buildable of 3,500 square feet according to a PincusCo analysis of city data. The parcel has frontage of 17 feet and is 100 feet deep with a total lot size of 1,750 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $3.1 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 not received any significant violations 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 this tax block, PincusCo has identified the owners of six of the 15 commercial properties representing 11,841 square feet of the 34,985 square feet. The largest owner is Ahmed Alsoora, followed by Gian Luca Brignone and then Nicholas Kotsonis.
On the tax block, there was one new building construction project filed totaling 7,299 square feet. It is a six-unit, 7,299 square-foot residential (R-2) building submitted by Jack Basile and filed by Jack Basile with plans filed December 10, 2025 and it has not been permitted yet.

The majority, or 79 percent of the 34,985 square feet of built space are mixed-use buildings, with walkup buildings next occupying 21 percent of the space.

The buyer

The PincusCo database currently indicates that Bushwack Capital owned at least nine commercial properties with 32 residential units in New York City with 363,465 square feet and a city-determined market value of $44.7 million. (Market value is typically about 50% of actual value.) The portfolio has $31.1 million in debt, borrowed from Citibank and United Nations Federal Credit Union. Within the portfolio, the bulk, or 44 percent of the 363,465 square feet of built space are hotel properties, with industrial properties next occupying 29 percent of the space. The bulk, or 92 percent of the built space, is in Brooklyn, with Manhattan next at 8 percent of the space.

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