Greenbrook, Carlyle pay $2.4M to Joseph Yaakovzadeh for 4-family in Ridgewood

Greenbrook Partners and Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $2.4 million to Joseph Yaakovzadeh through the entity Majestic Bricks LLC for the four-unit building (C3) at 506 Woodward Avenue in Ridgewood, Queens. The expected use is cash flowing.
The deal closed on September 18, 2025 and was recorded on September 24, 2025. The property has 2,750 square feet of built space and 2,493 square feet of additional air rights for a total buildable of 5,250 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $883 and the price per buildable square foot is $462 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 April 5, 2024, for $1.2 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 80 properties in 77 transactions for a total of $323.3 million and sold 24 properties in 24 transactions for a total of $142.3 million over the past 24 months.
The seller Joseph Yaakovzadeh had not purchased any other properties and sold nine properties in nine transactions for a total of $22.2 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Joseph Yaakovzadeh, head officer and Rabi Yaghoubzadeh, officer. The business entity is Majestic Bricks Llc.

The property

The 1-4 family building with 4 residential units in Ridgewood has 2,750 square feet of built space and 2,493 square feet of additional air rights for a total buildable of 5,250 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 105 feet deep with a total lot size of 2,625 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $708,000.

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 $325 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 eight commercial properties representing 14,250 square feet of the 35,750 square feet. The largest owner is Leszek Galej, followed by Salvatore Barone and then Anthony Dirusso.
There are no active new building construction projects on this tax block.

The majority, or 67 percent of the 35,750 square feet of built space are walkup buildings, with mixed-use buildings next occupying 33 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 345 commercial properties with 1,685 residential units in New York City with 1,530,691 square feet and a city-determined market value of $515 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 1,530,691 square feet of built space are walkup properties, with C0 properties next occupying 14 percent of the space. The bulk, or 96 percent of the built space, is in Brooklyn, with Queens next at 4 percent of the space.
The PincusCo database currently indicates that Carlyle Group owned at least 342 commercial properties with 3,876 residential units in New York City with 4,195,295 square feet and a city-determined market value of $988.5 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 4,195,295 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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