Chestnut Holdings pays $10.6M to Knoll family for rental in Williamsburg

Chestnut Holdings of New York through the entity 390 Hooper LLC paid $10.6 million to the Knoll family through the entity Lusia Realty Corp. for the 46-unit rental (C1) at 390 Hooper Street in Williamsburg, Brooklyn.
The deal closed on December 8, 2021 and was recorded on December 30, 2021.
The property has 38,505 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $273 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 the Knoll family was Morris Joseph Knoll. The signatory for Chestnut Holdings of New York was Jonathan Wiener.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
The owners according to the Department of Housing Preservation and Development included Morris Knoll, head officer and Yosefa Knoll, officer. The business entity is Manz Realty.
Within a 400-foot radius of 390 Hooper St, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was for major renovation including a certificate of occupancy change. It was a permit issued on August 21, 2020 for the $1.5 million renovation of a 6,052-square-foot R-2 building with nine residential units at 379 South 1st Street.
One of those two items was a loan which Abraham Grunhut borrowed $5.3 million from Signature Bank secured by the 7,500-square-foot, five-unit rental (C2) on 381 South 3rd Street on June 11, 2021.

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