Giannis Antetokounmpo pays $14.1M for 28-unit rental in Prospect Lefferts Gardens

Giannis Antetokounmpo through the entity Original Lawrence 111 LLC paid $14.1 million to Seth Brown and Richard Ludwig through the entity 520 Parkside LLC for the 28-unit residential elevator building (D3) at 111 Clarkson Avenue in Prospect Lefferts Gardens, Brooklyn. The expected use is cash flowing.
The deal closed on November 18, 2025 and was recorded on December 8, 2025. The property has 26,902 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $524 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 $2.8 million. The signatory for Seth Brown and Richard Ludwig was Seth Brown and Richard Ludwig. The signatory for Giannis Antetokounmpo was Giannis Antetokounmpo. The contract date was October 3, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Giannis Antetokounmpo had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Seth Brown had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Seth Brown, head officer and Claire Jacobs, agent. The business entities are Maximus Property Management Services and 520 Parkside Llc. The 26,902-square-foot property generated revenue of $1 million or $39 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 28 residential units in Prospect Lefferts Gardens has 26,902 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 115 feet deep with a total lot size of 5,753 square feet. The lot is irregular. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The property has a 421A exemption that started in 2020 and expires in 2035. The city-designated market value for the property in 2022 is $5.1 million. The property has 28 rent regulated units according to city tax records from 2023.

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 $200 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on July 23, 2018. 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 14 of the 32 commercial properties representing 409,060 square feet of the 496,584 square feet. The largest owner is Seth Brown, followed by Yechiel Weinberger and then Astral Weeks.
On the tax block, there was one new building construction project filed totaling 3,613 square feet. It is a 34-unit, 3,613 square-foot residential (R-2) building submitted by Mohammod Bhuyain with plans filed June 8, 2022 and permitted March 11, 2024.

The majority, or 57 percent of the 496,584 square feet of built space are elevator buildings, with walkup buildings next occupying 33 percent of the space.

The seller

The PincusCo database currently indicates that Seth Brown owned at least two commercial properties with 50 residential units in New York City with 50,136 square feet and a city-determined market value of $10.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are elevator properties. They are all located in Brooklyn.

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