Carlyle, Greenbrook pay $7.1M to RYCO, Alchemy for 5-unit rental in Cobble Hill

Carlyle Group and Greenbrook Partners through the entity Townhouse Rental II, L.L.C. paid $7.1 million to RYCO Capital and Alchemy Ventures through the entity Keystone 115 Pacific Street LLC for the five-unit mixed-use building (S3) at 115 Pacific Street in Cobble Hill, Brooklyn. The expected use is cash flowing.
The deal closed on December 19, 2025 and was recorded on December 29, 2025. The property has 5,720 square feet of built space.
The seller bought the property on August 26, 2022, for $3.8 million. The signatory for RYCO Capital was James D. Ryan III . The signatory for Carlyle Group and Greenbrook Partners was Jennifer Lico . The contract date was August 11, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Carlyle Group purchased 78 properties in 75 transactions for a total of $936 million and sold 32 properties in three transactions for a total of $150 million over the past 24 months.
The seller RYCO Capital purchased 11 properties in nine transactions for a total of $161.3 million and sold five properties in four transactions for a total of $57.9 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Shane Rajcooar, head officer and Gustavo Ruiz, site manager. The business entity is Keystone 115 Pacific Street Llc.

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 neighborhood

In Cobble Hill, The bulk, or 31 percent of the 1.9 million square feet of commercial built space are walkup buildings, with specialty buildings next occupying 30 percent of the space. In sales, Cobble Hill has near average sales volume among other neighborhoods with $301.7 million in sales volume in the last two years and is the 25th highest in Brooklyn. For development, Cobble Hill has had very little major development activity relative to other neighborhoods.It had 11,948 square feet of commercial and multi-family construction under development in the last two years, which represents 0.63 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of seven of the 18 commercial properties representing 36,770 square feet of the 99,107 square feet. The largest owner is Alchemy Ventures, followed by Peak Capital Advisors and then Frank Valvo Living Trust.
There are no active new building construction projects on this tax block.

The majority, or 76 percent of the 99,107 square feet of built space are mixed-use buildings, with walkup buildings next occupying 24 percent of the space.

The seller

The PincusCo database currently indicates that RYCO Capital owned at least 20 commercial properties with 275 residential units in New York City with 267,417 square feet and a city-determined market value of $140.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 49 percent of the 267,417 square feet of built space are walkup properties, with mixed-use properties next occupying 26 percent of the space. The bulk, or 96 percent of the built space, is in Manhattan, with Brooklyn next at 4 percent of the space.

The buyer

The PincusCo database currently indicates that Carlyle Group owned at least 395 commercial properties with 3,986 residential units in New York City with 4,242,793 square feet and a city-determined market value of $1 billion. (Market value is typically about 50% of actual value.) The portfolio has $872.9 million in debt, with top three lenders as Invesco, PGIM Real Estate, and Prudential Financial respectively. Within the portfolio, the bulk, or 34 percent of the 4,242,793 square feet of built space are elevator properties, with industrial properties next occupying 28 percent of the space. The bulk, or 50 percent of the built space, is in Brooklyn, with Queens next at 30 percent of the space.
The PincusCo database currently indicates that Greenbrook Partners owned at least 387 commercial properties with 1,839 residential units in New York City with 1,667,917 square feet and a city-determined market value of $569.4 million. (Market value is typically about 50% of actual value.) The portfolio has $365 million in debt, with top three lenders as Invesco Real Estate, Rialto Capital Management, and MP Real Estate Capital respectively. Within the portfolio, the bulk, or 47 percent of the 1,667,917 square feet of built space are walkup properties, with C0 properties next occupying 14 percent of the space. The bulk, or 95 percent of the built space, is in Brooklyn, with Queens next at 5 percent of the space.

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