Chaim Yosef Abramson pays $3.8M for 4-family in Carroll Gardens

Chaim Yosef Abramson through the entity 238 Degraw Partners 2 LLC paid $3.8 million to Monica Girgenti for four-family building (C3) at 238 Degraw Street in Carroll Gardens, Brooklyn. This building is in the popular tax classes 2a and 2b.
The deal closed on January 11, 2023 and was recorded on January 27, 2023.The property has 1,900 square feet of built space and 3,100 square feet of additional air rights for a total buildable of 5,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $2,001 and the price per buildable square foot is $760 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 Monica Girgenti was Monica Girgenti. The signatory for Chaim Yosef Abramson was Chaim Yosef Abramson.

Prior sales and revenue

Prior to this transaction, Pincusco has records that the buyer Chaim Yosef Abramson purchased one properties in one transactions for a total of $2.6 million and has no record it sold any properties over the past 24 months.
The seller Monica Girgenti had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Nickolas Varipapa, individual owner.

The property

The 238 Degraw Street parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 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 $1.4 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

On this tax block, PincusCo has identified the owners of two of the 13 commercial properties representing 9,400 square feet of the 72,200 square feet. The two identified owners are Nasser Munassar and ELH Mgmt..
there are no active new building construction projects on this tax block.

the majority, or 89 percent of the 72,200 square feet of built space are walkup buildings, with mixed-use buildings next occupying 11 percent of the space.

The buyer

The PincusCo database currently indicates that Chaim Yosef Abramson owned at least one commercial property in New York City with 3,000 square feet and a city-determined market value of $2.8 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single C0 property. It is located in Brooklyn.

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