Fort Greene 2-unit townhouse sells for $5.3M

The entity 168 Lafayette Ave LLC paid $5.3 million to Nathan Rose through the entity 168 Lafayette LLC for the two-unit building (B3) at 168 Lafayette Avenue in Fort Greene, Brooklyn.
The deal closed on February 2, 2024 and was recorded on February 20, 2024. The property has 4,734 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,112 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 seller bought the property on September 23, 2013, for $3.2 million. The signatory for Nathan Rose was Nathan Rose. The signatory for the buyer entity registered with the law firm Murphy Matatof was attorney Michael Murphy. The contract date was November 30, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Nathan Rose had not purchased any other properties and sold three properties in three transactions for a total of $19.8 million over the same time period.

The property

The 1-4 family building with 2 residential units in Fort Greene has 4,734 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 83 feet deep with a total lot size of 1,687 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The property is in the Fort Greene Historic District. The city-designated market value for the property in 2022 is $4.8 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 block

On this tax block, PincusCo has identified the owners of one of the seven commercial properties representing 3,440 square feet of the 7,382 square feet. The identified owner is Johanna Francis.
On the tax block, there were 10 new building construction projects totaling 41,234 square feet. The largest is a two-unit, 5,192 square-foot residential (R-3) building submitted by Afshin Dilmanian with plans filed May 28, 2021 and it has not been permitted yet. The second largest is a two-unit, 5,128 square-foot residential (R-3) building submitted by Afshin Dilmanian with plans filed May 28, 2021 and it has not been permitted yet.

The majority, or 93 percent of the 7,382 square feet of built space are walkup buildings, with industrial buildings next occupying 7 percent of the space.

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