Crown Investments pays $3.2M for 4-family in Park Slope

The Homapour family’s Crown Investments through the entity Crown 347, LLC paid $3.2 million to Stephen G. Lande through the entity 347 Sixth Avenue LLC for the four-unit building (C3) at 347 6th Avenue in Park Slope, Brooklyn.
The deal closed on September 26, 2023 and was recorded on October 2, 2023. The property has 4,345 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $736 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 Stephen G. Lande was Russell S. Lande. The signatory for Crown Investments was Jeffrey Homapour. The contract date was August 4, 2023. Justin Homapour is with Crown Investments.

Prior sales and revenue

The former owners according to the Department of Housing Preservation and Development includes Russell Lande, head officer and Steve Henry, site manager. The business entity is 347 Sixth Avenue Llc.

The property

The 1-4 family building with 4 residential units in Park Slope has 4,345 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 19 feet and is 77 feet deep with a total lot size of 1,539 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.1 million.

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 two of the five commercial properties representing 13,520 square feet of the 34,460 square feet. The two identified owners are Lillian Anello and Greenbrook Partners.
There are no active new building construction projects on this tax block.

The majority, or 73 percent of the 34,460 square feet of built space are mixed-use buildings, with walkup buildings next occupying 27 percent of the space.

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