Christian Michel pays $3.9M to Witnick Real Estate for 8-unit walkup in Park Slope

Christian Michel through the entity 817 8th Avenue LLC paid $3.9 million to Witnick Real Estate Partners through the entity 817 8th Partners LLC for the eight-unit residential walkup building (C1) at 817 8th Avenue in Park Slope, Brooklyn. The expected use is cash flowing.
The deal closed on June 10, 2026 and was recorded on June 22, 2026. The property has 5,576 square feet of built space and 641 square feet of additional air rights for a total buildable of 6,210 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $703 and the price per buildable square foot is $631 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 seller bought the property on January 16, 2019, for $3.6 million. The signatory for Witnick Real Estate Partners was Ramiel Ben Yehuda . The signatory for Christian Michel was Christian Michel. The contract date was February 18, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Christian Michel had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Witnick Real Estate Partners purchased 15 properties in eight transactions for a total of $94.6 million and sold three properties in three transactions for a total of $72.5 million over the same time period. The former owner according to the Department of Housing Preservation and Development is Ramiel Benyehuda , head officer. The business entity is 817 8th Partners, Llc. The 5,576-square-foot property generated revenue of $264,860 or $48 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 8 residential units in Park Slope has 5,576 square feet of built space and 641 square feet of additional air rights for a total buildable of 6,210 square feet according to a PincusCo analysis of city data. The parcel has frontage of 23 feet and is 90 feet deep with a total lot size of 2,070 square feet. The zoning is R7B which allows for up to 3 times floor area ratio (FAR) for residential. The property is in the Park Slope Historic District Extension. The city-designated market value for the property in 2022 is $2.5 million. The property has 4 rent regulated units according to city tax records from 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. 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 $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of five of the seven commercial properties representing 43,674 square feet of the 64,010 square feet. The largest owner is Sugar Hill Capital Partners , followed by Laura Hobgood and then Timothy Myers.
There are no active new building construction projects on this tax block.

The majority, or 58 percent of the 64,010 square feet of built space are walkup buildings, with elevator buildings next occupying 32 percent of the space.

The seller

The PincusCo database currently indicates that Witnick Real Estate Partners owned at least 43 commercial properties with 867 residential units in New York City with 644,142 square feet and a PincusCo-determined asset value of $378.6 million. The portfolio has $160.9 million in debt, with top three lenders as Dime Community Bank , Webster Bank, and Arbor Realty Trust respectively. Within the portfolio, the bulk, or 55 percent of the 644,142 square feet of built space are walkup properties, with elevator properties next occupying 43 percent of the space. The bulk, or 46 percent of the built space, is in Manhattan, with Brooklyn next at 32 percent of the space.

The buyer

The PincusCo database currently indicates that Christian Michel owned at least one commercial property with six residential units in New York City with 4,236 square feet and a PincusCo-determined asset value of $2.2 million. The portfolio consists of at least a single walkup property.

Direct link to Acris document. link