Clipper Equity pays $26M for industrial in Crown Heights
Clipper Equity through the entity Dean Owner LLC paid $26 million to Harry Daskal through the entity 1050 Pacific LLC for industrial (G7) at 1050 Pacific Street in Crown Heights, Brooklyn.
The deal closed on December 22, 2021 and was recorded on January 4, 2022.
The property has 0 square feet of built space and 92,796 square feet of additional air rights for a total buildable of 92,796 square feet according to PincusCo analysis of city data. The sale price per buildable square foot is $280 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 Harry Daskal was Harry Daskal. The signatory for Clipper Equity was David Bistricer.
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.
David Bistricer is the founder and principal of Clipper Equity. A two-building, mixed-use complex was at one point planned for the property.
Within a 400-foot radius of 1050 Pacific Street, PincusCo identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, one was in new building development. It was a new building permit application filed on August 27, 2020 for a 29,310-square-foot R-2 building with 42 residential units at 643 Classon Avenue.
Of those six items, one was for major renovation including a certificate of occupancy change. It was a permit issued on August 17, 2021 for the $1.7 million renovation of 26,606-square-foot B building with no residential units at 964 Dean Street.
One of those six items was a sale which Prospect Affordable Package LLC bought the 6,500-square-foot, eight-unit rental (C1) on 1063 Pacific Street and 13 other properties for $22.1 million from All Year Management on July 27, 2021.
Of those six items, three were loans above $5 million totaling $45 million. The most recent of the three was Black Spruce Management which borrowed $21 million from Sterling National Bank secured by the 6,500-square-foot, eight-unit rental (C1) on 1063 Pacific Street and 13 other properties on November 12, 2021.
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