Carlyle, Greenbrook pays $4.2M to Truestone for 8-unit walkup in Bedford Stuyvesant

Carlyle Group and Greenbrook Partners through the entity Townhouse Rental II, L.L.C. paid $4.2 million to Truestone through the entity 647 Dekalb Realty LLC for the eight-unit residential walkup building (C1) at 647 Dekalb Avenue in Bedford Stuyvesant, Brooklyn. The expected use is cash flowing.
The deal closed on December 30, 2025 and was recorded on January 9, 2026. The property has 5,660 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $750 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 seller bought the property on April 9, 2019, for $1.1 million. The signatory for Truestone was Sol Dayan . The signatory for Carlyle Group and Greenbrook Partners was Jennifer Lico . The contract date was April 9, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Carlyle Group purchased 79 properties in 76 transactions for a total of $943 million and sold 32 properties in three transactions for a total of $150 million over the past 24 months.
The seller Truestone 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 Raymond Dayan, head officer and Sol Dayan, site manager. The business entity is 647 Dekalb Realty Llc.

The property

The residential walkup building with 8 residential units in Bedford Stuyvesant has 5,660 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 18 feet and is 100 feet deep with a total lot size of 1,842 square feet. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.3 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 received $2,700 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on August 7, 2025. 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 eight of the 12 commercial properties representing 68,426 square feet of the 82,927 square feet. The largest owner is Impacct Housing Development Fund, followed by Jayde Okunubi and then Mike Silber.
On the tax block, there were two new building construction projects totaling 20,139 square feet. The largest is a 18-unit, 15,330 square-foot residential (R-2) building submitted by Issac Lebo with plans filed April 14, 2022 and permitted December 5, 2023. The second largest is a 37-unit, 4,809 square-foot residential (R-2) building submitted by Rona Reodica with plans filed May 1, 2020 and permitted September 12, 2023.

The majority, or 82 percent of the 82,927 square feet of built space are walkup buildings, with retail buildings next occupying 9 percent of the space.

The buyer

The PincusCo database currently indicates that Carlyle Group owned at least 396 commercial properties with 3,989 residential units in New York City with 4,246,313 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 4,246,313 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 388 commercial properties with 1,842 residential units in New York City with 1,671,437 square feet and a city-determined market value of $570.8 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 1,671,437 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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