Buyer pays $3.3M for 4-family in Prospect Heights, prior owner filed dissolution suit

UPDATED 6:20 p.m., February 10, 2025: The entity Domus Brooklynis, LLC paid $3.3 million to Sherry E. Carr, Paula Bowen, and Alicia Smith through the entity Alan Drezin, As Referee for the four-unit building (C3) at 283 Sterling Place in Prospect Heights, Brooklyn.
The deal closed on February 2, 2023 and was recorded on February 9, 2023. The property has 3,271 square feet of built space and 1,965 square feet of additional air rights for a total buildable of 5,240 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,008 and the price per buildable square foot is $629 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 Sherry E. Carr, Paula Bowen, and Alicia Smith was Alan Drezin. A former owner of the property filed a petition in April 2021 seeking dissolution of the corporation that owned the building and a sale of the assets. This sale is the result of that court filing, 507917/2021.  Alan Drezin acted as the referee in the court-directed sale.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Sherry E. Carr 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 Paula Bowen, head officer and Sherry Carr, officer. The business entity is 283 Sterling Place Llc.

The property

The 283 Sterling Place parcel has frontage of 20 feet and is 131 feet deep with a total lot size of 2,620 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The property is in the Prospect Heights Historic District. The city-designated market value for the property in 2022 is $1.2 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property since September of 2020. 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 $5 million on this tax lot.

The block

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

all properties are walkup.

UPDATED: The name of an individual was redacted for privacy reasons. 

Direct link to Acris document. link