Gemini Rosemont pays $18M for long-owned manufacturing property in Williamsburg

Los Angeles-based Gemini Rosemont through the entity 171 North First Street LLC paid Barbara Minihan and Stanislaw Rys’s Kevsta Inc. $18.2 million for 171 North 1st Street in Williamsburg. The deal closed on March 6, 2020, and was recorded on March 11, 2020. The transaction consists of 1 parcel, including the tax class light manufacturing building (F5). The property is 13,860 square feet. The parcel(s) have total development potential of 41,594 square feet.
The average sale price per square foot is $438.

The sellers had owned the parcel since 1995.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link