Greenbrook, Carlyle pay $6.6M to Partners Path for 7-unit walkup in Greenpoint

Greenbrook Partners and Carlyle Group through the entity Townhouse Rental II, L.L.C. paid $6.6 million to Partners Path through the entity 76 Franklin Owner LLC for the seven-unit residential walkup building (C7) at 76 Franklin Street in Greenpoint, Brooklyn. The expected use is cash flowing.
The deal closed on September 5, 2025 and was recorded on September 11, 2025. The property has 6,500 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,021 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 May 19, 2016, for $5.5 million. The signatory for Partners Path was Benjamin Brash . The signatory for Greenbrook Partners and Carlyle Group was Jennifer Lico . The contract date was October 17, 2024.

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 $325.8 million and sold 23 properties in 23 transactions for a total of $136.9 million over the past 24 months.
The seller Partners Path purchased five properties in five transactions for a total of $12.9 million and sold two properties in two transactions for a total of $9.4 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Alex Lebowitz, head officer and Ethan Bloomberg, agent. The business entities are 76 Franklin Owner Llc and 76 Franklin Owner Llc.

The property

The residential walkup building with 7 residential units in Greenpoint has 6,500 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 28 feet and is 44 feet deep with a total lot size of 1,291 square feet. The lot is irregular. 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 $3.9 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 $130 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on December 10, 2013. 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 four commercial properties representing 16,475 square feet of the 18,635 square feet. The largest owner is Jon Shepanzyk, followed by Alex Lebowitz and then Anthony Chester Krakowski.
There are no active new building construction projects on this tax block.

The majority, or 88 percent of the 18,635 square feet of built space are walkup buildings, with mixed-use buildings next occupying 12 percent of the space.

The seller

The PincusCo database currently indicates that Partners Path owned at least 13 commercial properties with 79 residential units in New York City with 68,290 square feet and a city-determined market value of $14 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 75 percent of the 68,290 square feet of built space are walkup properties, with mixed-use properties next occupying 25 percent of the space. The bulk, or 70 percent of the built space, is in Brooklyn, with Queens next at 30 percent of the space.

The buyer

The PincusCo database currently indicates that Greenbrook Partners owned at least 342 commercial properties with 1,677 residential units in New York City with 1,521,723 square feet and a city-determined market value of $509.9 million. (Market value is typically about 50% of actual value.) The portfolio has $358 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 1,521,723 square feet of built space are walkup properties, with C0 properties next occupying 13 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 340 commercial properties with 3,866 residential units in New York City with 4,185,945 square feet and a city-determined market value of $984.8 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 4,185,945 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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