David Friedman files plans to create 29 residential units in Greenpoint loft building

David Friedman submitted a major alteration application to create 29 residential units in an existing 45,000-square-foot commercial (COM) building at 95 Dobbin Street in Greenpoint, Brooklyn. The plan was filed with the New York City Department of Buildings on November 30, 2023 under job number B00949044. It call for a rehab of the two-story building. The project is described in the filing as: conversion of existing manufacturing into mixed-use residential and commercial building. Interior renovation to include removal of existing partitions and finishes and construction of new partitions and finishes [as well as] mechanical, heating and ventilation as per plans.

Moses Lieberman as member of Dobbins St. LLC, the entity that owns the property, borrowed $2 million on August 23, 2023, from lender Lancewood Capital. A company with a similar name, Dobbin St Associates LLC, filed two actions in state court related to allegations of a tenant not paying rent.

Earlier this year, the brokerage firm Kalmon Dolgin listed the building for sale, asking $21.5 million, saying it has 29 residential loft units.

The property

The industrial building in Greenpoint has 45,000 square feet of built space according to a PincusCo analysis of city data. The parcel has two buildings with frontage of 370 feet and is 200 feet deep with a total lot size of 29,552 square feet. The lot is irregular. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $2.8 million.

Prior sales and revenue

The 45,000-square-foot property generated revenue of $481,244 or $11 per square foot, according to the most recent income and expense figures.

Violations and lawsuits

According to city public data, the property has received $2,400 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Greenpoint, The bulk, or 29 percent of the 23.7 million square feet of commercial built space are walkup buildings, with industrial buildings next occupying 25 percent of the space. In sales, Greenpoint has near average sales volume among other neighborhoods with $636.8 million in sales volume in the last two years and is the 9th highest in Brooklyn. For development, Greenpoint has near average amount of major developments among other neighborhoods and is the 8th highest in Brooklyn. It had 2.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of five of the 14 commercial properties representing 38,125 square feet of the 166,461 square feet. The largest owner is Avery Singer, followed by Chana Teitelbaum and then Khalida Khan. There are no active new building construction projects on this tax block.

The surrounding

Within a 400-foot radius of 175 Banker Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months. One of those two items was a sale which Avery Singer bought the 10,500-square-foot, one-unit industrial (E1) on 233 Banker Street for $8.1 million from Ingraham Realty Properties on November 22, 2022. One of those two items was a loan which Avery Singer borrowed $7 million from Wenlei Song secured by the 10,500-square-foot, one-unit industrial (E1) on 233 Banker Street on November 22, 2022.

Direct link to the property’s ACRIS page and link to DOB NOW portal.