Double U Realty pays $6.3M for retail in Greenpoint

Double U Realty through the entity 896 Manhattan Ave LLC paid $6.3 million to Moshe Pasman and Sean Pasman through the entity 894-896 Manhattan Avenue Inc. for the retail building (O5) at 894-896 Manhattan Avenue in Greenpoint, Brooklyn. The expected use is cash flowing.
The deal closed on January 15, 2026 and was recorded on February 13, 2026. The property has 12,288 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $512 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 Moshe Pasman and Sean Pasman was Sean Pasman. The signatory for Double U Realty was Michael Weitzman . The contract date was September 22, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Double U Realty purchased four properties in four transactions for a total of $31.2 million and sold three properties in two transactions for a total of $72.4 million over the past 24 months.
The seller Moshe Pasman had not purchased any other properties and had not sold any properties over the same time period. The 12,288-square-foot property generated revenue of $603,800 or $49 per square foot, according to the most recent income and expense figures.

The property

The retail building in Greenpoint has 12,288 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 48 feet and is 93 feet deep with a total lot size of 3,685 square feet. The lot is irregular. The zoning is C4-3A which allows for up to 3 times floor area ratio (FAR) for commercial and up to 3 times FAR for residential with inclusionary housing. The property is in the Greenpoint Historic District. The city-designated market value for the property in 2022 is $2.9 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 neighborhood

In Greenpoint, The bulk, or 29 percent of the 23.8 million square feet of commercial built space are walkup buildings, with industrial buildings next occupying 26 percent of the space. In sales, Greenpoint has 2.9 times the average sales volume among other neighborhoods with $938.5 million in sales volume in the last two years and is the 4th highest in Brooklyn. For development, Greenpoint has 2 times the average amount of major developments relative to other neighborhoods and is the 3rd highest in Brooklyn. It had 3.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 13 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 18 of the 27 commercial properties representing 95,522 square feet of the 145,654 square feet. The largest owner is Steve Goldman, followed by Peak Capital Advisors and then Marian Okuniewski.
There are no active new building construction projects on this tax block.

The majority, or 77 percent of the 145,654 square feet of built space are mixed-use buildings, with retail buildings next occupying 20 percent of the space.

The buyer

The PincusCo database currently indicates that Double U Realty owned at least eight commercial properties with 59 residential units in New York City with 97,603 square feet and a city-determined market value of $21.1 million. (Market value is typically about 50% of actual value.) The portfolio has $184.8 million in debt, with top three lenders as Lorimer Capital, Citibank, and S3 Capital respectively. Within the portfolio, the bulk, or 62 percent of the 97,603 square feet of built space are mixed-use properties, with retail properties next occupying 17 percent of the space. They are all located in Brooklyn.

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