Double U Realty signs $72M construction loan with Lorimer Capital for retail, sport facility in Williamsburg
83 Wythe Avenue axonometric diagram (Credit - Jeremiah Zuidema architect via DOB)
Double U Realty through the entity 83 Wythe LLC as borrower signed a new construction loan with lender Lorimer Capital through the entity 83 Wythe Senior Investors, L.P. valued at $72 million for the retail and sports facility building (K2) at 83 Wythe Avenue in Williamsburg, Brooklyn.
On the lot, there is one active new building construction project, B01084172, for a 88,680 square-foot sports facility building. The project was submitted by Double U Development and filed by Michael Weitzman with plans filed August 6, 2024 and it has not been permitted yet.
The deal closed on April 15, 2026 and was recorded on May 6, 2026. The prior lender was G4 Capital Partners which held debt that had an original loan amount of $14.75 million. The loan price per planned development square foot is $812 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 owner bought the property on June 22, 2022, for $20 million. The signatory for Double U Realty was Michael Weitzman . The signatory for Lorimer Capital was Evan Bell .
83 Wythe Avenue
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | floor | comment | description | persons_permitted | occupancy_label | zoning_use | dwelling_units |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | acris | 05/07/2026 07:42 AM | acris | 05/07/2026 07:42 AM | Cellar | MECHANICAL ROOMS | Mechanical and/or electrical equipment room | 6 | Factory and Industrial | VI, VIII | |
| 2 | acris | 05/07/2026 07:42 AM | acris | 05/07/2026 07:42 AM | Cellar | FITNESS AND RECREATION SPORT CENTER | Recreation | 187 | Assembly | VIII | |
| 3 | acris | 05/07/2026 07:42 AM | acris | 05/07/2026 07:42 AM | Open Space | THREE (3) LOADING BERTHS, PARKING ENTRY | Parking Garage | 19 | Storage | VI, VIII | |
| 4 | acris | 05/07/2026 07:42 AM | acris | 05/07/2026 07:42 AM | 1 | RETAIL SPACE 1 (116 OCC), RETAIL SPACE 2 (66 OCC), RETAIL SPACE 3 (66 OCC), RETAILS SPACE 4 (158 OCC), RETAIL SPACE 5 (26 OCC) | Retail Sale | 432 | Mercantile | VI | |
| 5 | acris | 05/07/2026 07:42 AM | acris | 05/07/2026 07:42 AM | 1 | LOBBY | Recreation | 63 | Assembly | VIII | |
| 6 | acris | 05/07/2026 07:42 AM | acris | 05/07/2026 07:42 AM | 2 | PARKING; TOTAL OF ONE HUNDRED AND SIXTY-FOUR (164) AUTOMOBILE PARKING SPACES | Parking Garage | 87 | Storage | VI, VIII | |
| 7 | acris | 05/07/2026 07:42 AM | acris | 05/07/2026 07:42 AM | 2 | MECHANICAL AND PACKAGE ROOM, TOTAL OF TWENTY (20) BICYCLE PARKING SPACES | Storage of non combustible Materials | 7 | Storage | VI, VIII | |
| 8 | acris | 05/07/2026 07:42 AM | acris | 05/07/2026 07:42 AM | Roof Terrace - 2 | MECHANICAL TERRACE | Mechanical and/or electrical equipment room | 1 | Factory and Industrial | VI, VIII | |
| 9 | acris | 05/07/2026 07:42 AM | acris | 05/07/2026 07:42 AM | 3 | FITNESS AND RECREATION SPORT CENTER | Recreation | 317 | Assembly | VIII | |
| 10 | acris | 05/07/2026 07:42 AM | acris | 05/07/2026 07:42 AM | Roof Terrace - 3 | TERRACES | Recreation | 69 | Assembly | VIII | |
| floor | comment | description | persons_permitted | occupancy_label | zoning_use | dwelling_units |
Prior sales, articles and revenue
The 1,860-square-foot property generated revenue of $214,497 or $115 per square foot, according to the most recent income and expense figures.
The property
The retail building in Williamsburg has 1,860 square feet of built space and 42,948 square feet of additional air rights for a total buildable of 44,738 square feet according to a PincusCo analysis of city data. The parcel has frontage of 149 feet and is 157 feet deep with a total lot size of 22,369 square feet. The lot is irregular. The zoning is M1-2 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $1.3 million. Lorimer Capital on April 15, 2026 bought a loan with an original principal of $14.75 million from G4 Capital Partners signed by Robyn Sorid , secured by 83 Wythe Avenue, when owned by Double U Realty .
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 received $1,000 in ECB penalties and $1,000 in OATH penalties in the last year.
The neighborhood
In Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 6th highest sale turnover among other neighborhoods in the city with $2.2 billion in sales volume in the last two years. For development, Williamsburg is the most active neighborhood among other neighborhoods. It had 42 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of three of the three commercial properties representing 36,928 square feet of the 36,928 square feet. The two identified owners are Bldg Management and Double U Realty.
On the tax block, there was one new building construction project filed totaling 88,680 square feet. It is a 88,680 square-foot 69 building submitted by Double U Development and filed by Michael Weitzman with plans filed August 6, 2024 and it has not been permitted yet.
The majority, or 95 percent of the 36,928 square feet of built space are office buildings, with retail buildings next occupying 5 percent of the space.
The borrower
The PincusCo database currently indicates that Double U Realty owned at least 10 commercial properties with 59 residential units in New York City with 117,447 square feet and a PincusCo-determined asset value of $211.3 million. 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 51 percent of the 117,447 square feet of built space are mixed-use properties, with retail properties next occupying 24 percent of the space. The bulk, or 93 percent of the built space, is in Brooklyn, with Manhattan next at 6 percent of the space.
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