Chestnut Holdings pays $10.9M to Warren Cohen for rental in East Flatbush

Chestnut Holdings through the entity 3413 LLC paid $10.9 million to Warren Cohen through the entity College Apartments L.L.C. for the 65-unit rental (D1) at 3413 Avenue H in East Flatbush, Brooklyn.
Chestnut has recorded at least 24 purchase transactions totaling $157 million since 2020, according to PincusCo figures. There have been at least 12 commercial property sales over the past two years in East Flatbush totaling $94 million, not including this sale.
The deal closed on November 18, 2021 and was recorded on December 7, 2021.
The property has 66,000 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $165 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 Warren Cohen was Warren Cohen. The signatory for Chestnut Holdings was Ben Rieder.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $232,210.
The former owners according to the Department of Housing Preservation and Development included Steven Cohen, head officer and Halil Ljesnjanin, officer. The business entity is College Apartments Llc.

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