Charter school pays $19M to David Dweck, Flatiron Real Estate, for school building in Williamsburg

An affiliate of Unity Preparatory Charter School of Brooklyn through the entity 584 Driggs FONB, LLC paid $19.12 million to a partnership including David Dweck and Flatiron Real Estate Investors, through the entities Duke 186 N 6 LLC, Ancona 186N6 LLC (and others) for the three—story, 17,638-square-foot school building at 584 Driggs Avenue in Williamsburg, Brooklyn.
The deal closed on July 31, 2023 and was recorded on August 8, 2023. The contract date was March 22, 2023.
The signatories for the tenant-in-common entities were David Dweck, Steven Ancona, Alan Mahana, Michael Marino III and Kenneth Hart. The signatory for the buyer was Jacob Elghanayan.

The sellers owned in a TIC structure, with Duke Equities owning 16.667%, Ancona with 16.667%, Mahana at 16,667%, MJM 584 at 30% and KH Owner at 20%.
The school’s grade 9-12 campus was already located in the building through a lease.
Kenneth Hart is co-founder of Veracity Partners. Dweck and partners including Flatiron Real Estate Investors paid Boricua College $31.1 million in 2018 for 584 Driggs Avenue and 186 North 6th Street. In August 2018 they signed a 35-year lease with the school. In 2020 the school converted 584 Driggs into two commercial condo units, both leased to the school. One is for 5,313 on the lower level, and the other unit is for floors 1, 2 and 3 totaling 12.325 square feet. Most of the first floor is open space with a view to the lower level.

The partners kept 186 North 6th, which they refinanced in April 2022 with a $37 million loan from Valley National Bank.

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