Center Street Capital pays $4.4M for 24-unit walkup in Greenpoint

Center Street Capital through the entity 158 Green Street LLC paid $4.4 million to Edgar Casablanca through the entity 158 Green, Inc. for the 24-unit residential walkup building (C7) at 158 Green Street in Greenpoint, Brooklyn. The expected use is cash flowing.
The deal closed on November 6, 2025 and was recorded on November 25, 2025. The property has 19,750 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $224 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 30, 2013, for $1.8 million. The signatory for Edgar Casablanca was Anthony Simari . The signatory for Center Street Capital was Eric Orlofsky . The contract date was April 28, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Center Street Capital purchased two properties in two transactions for a total of $5.4 million and has no record it sold any properties over the past 24 months.
The seller Edgar Casablanca had not purchased any other properties and sold one property in one transaction for a total of $2.3 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Edgar Casablanca, head officer and Jose Villatoro, site manager. The business entity is 158 Green Inc. The 19,750-square-foot property generated revenue of $706,854 or $36 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 24 residential units in Greenpoint has 19,750 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 88 feet deep with a total lot size of 4,429 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $3.8 million. The property has 24 rent regulated units according to city tax records from 2023.

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 $5,380 in OATH penalties 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 18 of the 25 commercial properties representing 315,633 square feet of the 345,431 square feet. The largest owner is World Wide Group, followed by Joseph Torres and then Casablanca Management.
There are no active new building construction projects on this tax block.

The majority, or 50 percent of the 345,431 square feet of built space are elevator buildings, with walkup buildings next occupying 27 percent of the space.

The buyer

The PincusCo database currently indicates that Center Street Capital owned at least 15 commercial properties with 128 residential units in New York City with 107,146 square feet and a city-determined market value of $21.7 million. (Market value is typically about 50% of actual value.) The portfolio has $9.2 million in debt, borrowed from Signature Bank and Arion Fund. Within the portfolio, the bulk, or 83 percent of the 107,146 square feet of built space are walkup properties, with elevator properties next occupying 11 percent of the space. They are all located in Brooklyn.

Direct link to Acris document. link