Cheskel Brach pays $10.5M to Abraham Brach for two commercial condo units in Williamsburg

Cheskel Brach through the entity Gerry Bartlett LLC paid $10.5 million to Abraham Brach through the entity 58 Gerry St LLC for commercial condominium units (CC) at 58 Gerry Street in Williamsburg, Brooklyn and (CC) at 25 Bartlett Street in Williamsburg, Brooklyn.
The deal closed on September 20, 2021 and was recorded on September 28, 2021.

The signatory for Abraham Brach was Jay Lichtman. The signatory for Cheskel Brach was Cheskel Brach.

Within a 400-foot radius of 25 Bartlett Street, Pincusco identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, two were in new building development. There were two new building permits. The most recent of these two items was a permit on February 16, 2021 for a 24,956-square-foot A-3 building with eight residential units at 77 Gerry St.
Of those six items, one was for major renovation including a certificate of occupancy change. It was an initial temporary certificate of occupancy issued on December 15, 2020 for the $2.8 million renovation of 29,141-square-foot B building with N/A residential units at 670 Flushing Avenue.
One of those six items was a sale which Cheskel Brach bought the 7,500-square-foot, two-unit office building (O2) on 33 Bartlett Street for $5.0 million from Abraham Brach on March 3, 2021.
Of those six items, two were loans above $5 million totaling $19.1 million. The most recent of the two was Sarah Gelb and Getzel Gelb which borrowed $8.1 million from Cross River Bank secured by the 2,208-square-foot, one-unit industrial (G9) on 55 Bartlett Street and two other properties on June 10, 2021.

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