Conway Capital pays $8M for rental in South Slope

Conway Capital through the entity 423 16th Street Cc Owner LLC paid $8. million to Richard Giancola, Gregory Giancola, and Robert Giancola for 16-unit rental (C1) at 423 16th Street in South Slope, Brooklyn.
The deal closed on November 30, 2021 and was recorded on December 9, 2021.
The property has 11,668 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $685 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 Richard Giancola, Gregory Giancola, and Robert Giancola was Richard Giancola, Gregory Giancola, and Robert Giancola. The signatory for Conway Capital was Abe Cohen.

Abe Cohen is a member of the US Real Estate & Acquisitions team at Conway Capital.
The former owners according to the Department of Housing Preservation and Development included Richard Giancola, individual owner and Cecilo Paguny, site manager.

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