Galil assumes control of Happy Living project in Prospect Heights

Galil Management through the entity 834 Pacific Owners LLC acquired a leasehold from Happy Living Development through the entity 834 Pacific Holdings LLC for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 113 residential units at N/A Pacific Street in Prospect Heights. The deal closed on March 5, 2021 and was recorded on March 15, 2021.
The property contains a total of 78,762 square feet of built space.
In addition to the assignment of the ground lease, the borrower signatories changed from Happy Living’s Levi Balkany to Galil’s Scott Katz.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.

There has been one new building permit application Those plans include a total of 113 residential units.

There have been 3 demolition projects filed over the past five years. The demolition included 7 residential units.

Direct link to Acris document. link
The signatory for the buyer was Scott Katz.