Greenbrook, Carlyle pay $2.4M to Joseph Yaakovzadeh for 3-family in Bushwick

Greenbrook Partners and Carlyle Group through the entity Townhouse Rental Ii, L.L.C. paid $2.4 million to Joseph Yaakovzadeh through the entity Gates Stones And Bricks LLC for the three-unit 1-4 family building (C0) at 1116 Gates Avenue in Bushwick, Brooklyn. The expected use is cash flowing.
The deal closed on October 10, 2025 and was recorded on October 14, 2025. The property has 3,300 square feet of built space and 1,560 square feet of additional air rights for a total buildable of 4,860 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $733 and the price per buildable square foot is $497 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 February 15, 2023, for $1.1 million. The signatory for Joseph Yaakovzadeh was Babak Pourtavoosi . The signatory for Greenbrook Partners and Carlyle Group was Jennifer Lico . The contract date was June 23, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Greenbrook Partners purchased 73 properties in 73 transactions for a total of $299.5 million and sold 23 properties in 23 transactions for a total of $133.7 million over the past 24 months.
The seller Joseph Yaakovzadeh had not purchased any other properties and sold 10 properties in 10 transactions for a total of $24.6 million over the same time period.

The property

The 1-4 family building with 3 residential units in Bushwick has 3,300 square feet of built space and 1,560 square feet of additional air rights for a total buildable of 4,860 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 100 feet deep with a total lot size of 2,000 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.4 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 received $600 in OATH penalties 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 three of the six commercial properties representing 13,135 square feet of the 51,702 square feet. The two identified owners are Greenbrook Partners and Abe Friedman.
There are no active new building construction projects on this tax block.

The majority, or 68 percent of the 51,702 square feet of built space are walkup buildings, with specialty buildings next occupying 32 percent of the space.

The seller

The PincusCo database currently indicates that Joseph Yaakovzadeh owned at least 22 commercial properties with 107 residential units in New York City with 98,998 square feet and a city-determined market value of $19.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 51 percent of the 98,998 square feet of built space are mixed-use properties, with walkup properties next occupying 46 percent of the space. The bulk, or 91 percent of the built space, is in Brooklyn, with Bronx next at 9 percent of the space.

The buyer

The PincusCo database currently indicates that Greenbrook Partners owned at least 346 commercial properties with 1,689 residential units in New York City with 1,533,441 square feet and a city-determined market value of $515.5 million. (Market value is typically about 50% of actual value.) The portfolio has $360.5 million in debt, with top three lenders as Invesco Real Estate, Rialto Capital Management, and MP Real Estate Capital respectively. Within the portfolio, the bulk, or 47 percent of the 1,533,441 square feet of built space are walkup properties, with C0 properties next occupying 14 percent of the space. The bulk, or 95 percent of the built space, is in Brooklyn, with Queens next at 5 percent of the space.
The PincusCo database currently indicates that Carlyle Group owned at least 343 commercial properties with 3,880 residential units in New York City with 4,198,045 square feet and a city-determined market value of $989 million. (Market value is typically about 50% of actual value.) The portfolio has $932.9 million in debt, with top three lenders as Invesco, PGIM Real Estate, and Prudential Financial respectively. Within the portfolio, the bulk, or 38 percent of the 4,198,045 square feet of built space are elevator properties, with industrial properties next occupying 28 percent of the space. The bulk, or 49 percent of the built space, is in Brooklyn, with Queens next at 30 percent of the space.

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