2069 Towers LLC pays $8.2M for residential elevator in Bensonhurst
2069 85th Street (Credit - Google)
UPDATED: The entity 2069 Towers LLC paid $8.2 million to Daniel Rosenthal and Tomas Rosenthal through the entity Rose Realty 1, LLC for 48-unit residential elevator building (D1) at 2069 85th Street in Bensonhurst, Brooklyn.
The deal closed on July 18, 2022 and was recorded on July 26, 2022. The property has 48,000 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $170 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 Daniel Rosenthal and Tomas Rosenthal was Daniel Rosenthal.
The off-market sale was brokered by Steven Vegh of Westwood Realty Associates.
Prior sales and revenue
The seller Daniel Rosenthal had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Daniel Rosenthal, head officer and Tomas Rosenthal, officer. The business entity is Rose Realty 1, Llc. The 48,000-square-foot property generated revenue of $724,306 or $15 per square foot, according to the most recent income and expense figures.
The property
The 2069 85th Street parcel has frontage of 60 feet and is 140 feet deep with a total lot size of 8,400 square feet. The lot is irregular. The zoning is R5 which allows for up to 1.25 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.4 million.
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Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property since September of 2020. In addition, according to city public data, the property has received seven housing violations and $100 in OATH penalties in the last year.
Development
There are no active new building construction projects or major alteration projects with initial costs more than $5 million on this tax lot.
The block
On this tax block, PincusCo has identified the owners of two of the seven commercial properties representing 100,440 square feet of the 230,640 square feet. The two identified owners are Frieda Schwartz and Joseph Pietanza. There are no active new building construction projects on this tax block.
The majority, or 60 percent of the 230,640 square feet of built space are elevator buildings, with walkup buildings next occupying 40 percent of the space.
Clarification: The story was updated to reflect the broker. The buyer information was redacted.
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