East Williamsburg dev site with 10 units planned sells for $4.6M

Marzena Wawrzaszek through the entity 165 Woodpoint Road LLC paid $4.6 million to John Ricci through the entity Jlor Holdings LLC for the industrial building (E1) at 165 Woodpoint Road in East Williamsburg, Brooklyn. The expected use is new development.

On the lot, there is one active major alteration construction project, B01224916, for a 10-unit, residential (R-2) building. The project was submitted by Chris Cielepak and filed by Chris Cielepak with plans filed June 6, 2025 and it has not been permitted yet.
The deal closed on August 14, 2025 and was recorded on August 21, 2025. The property has 6,825 square feet of built space and 4,348 square feet of additional air rights for a total buildable of 11,150 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $673 and the price per buildable square foot is $412 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 John Ricci was David Levine . The signatory for Marzena Wawrzaszek was Marzena Wawrzaszek. The contract date was October 11, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Marzena Wawrzaszek had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller John Ricci had not purchased any other properties and had not sold any properties over the same time period. The 6,825-square-foot property generated revenue of $151,922 or $22 per square foot, according to the most recent income and expense figures.

The property

The industrial building in East Williamsburg has 6,825 square feet of built space and 4,348 square feet of additional air rights for a total buildable of 11,150 square feet according to a PincusCo analysis of city data. The parcel has frontage of 83 feet and is 78 feet deep with a total lot size of 5,575 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $828,000.

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.

The neighborhood

In East Williamsburg, The majority, or 62 percent of the 17.1 million square feet of commercial built space are industrial buildings, with walkup buildings next occupying 11 percent of the space. In sales, East Williamsburg has 1.5 times the average sales volume among other neighborhoods with $418.1 million in sales volume in the last two years and is the 17th highest in Brooklyn. For development, East Williamsburg has 1.3 times the average amount of major developments relative to other neighborhoods and is the 10th highest in Brooklyn. It had 1.8 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 eight of the 11 commercial properties representing 53,157 square feet of the 70,393 square feet. The largest owner is Salvatore Gargano, followed by Shloma Stuhl and then Manjula Mukhopadhyay.
There are no active new building construction projects on this tax block.

The majority, or 90 percent of the 70,393 square feet of built space are walkup buildings, with industrial buildings next occupying 10 percent of the space.

Direct link to Acris document. link