Derby Copeland Capital pays $3.1M for mixed-use building in Cobble Hill

Derby Copeland Capital through the entity Derby 494 LLC paid $3.1 million to Rosalia Bonsignore through the entity 494 Henry Street, LLC for three-unit mixed-use building (S3) at 494 Henry Street in Cobble Hill, Brooklyn.
The deal closed on May 3, 2021 and was recorded on July 6, 2021.
The property has 4,000 square feet of built space and 0 square feet of additional air rights for a total buildable of 3,960 square feet according to PincusCo analysis of city data. The sale price per built square foot is $775 per the PincusCo analysis.
The signatory for Rosalia Bonsignore was Rosalia Bonsignore. The signatory for Derby Copeland Capital was Jonathan Scibilia.
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.
The former owners according to the Department of Housing Preservation and Development included Dominick Tutrone, head officer and Rosalia Bonsignore, officer. The business entity was 494 Henry Street Llc.
Within a 400-foot radius of 494 Henry Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, one was for major renovation including a certificate of occupancy change. It was a permit issued on August 22, 2019 for the $900,000 renovation of 4,886-square-foot R-3 building with one residential unit at 226 Degraw Street.
Of those three items, two were loans above $5 million totaling $16.6 million. The most recent of the two was Rey Grabato II which borrowed $5.5 million from LendingOne, LLC secured by the 3,750-square-foot, four-unit four-family building (C3) on 506 Henry Street on February 4, 2021.

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