Greenbrook Partners pays $3.1M to Sugar Hill for 8-unit walkup in Carroll Gardens

Greenbrook Partners through the entity 5 4 Pl, LLC paid $3.1 million to Sugar Hill Capital Partners through the entity 5 4th Place Residences, LLC for the eight-unit residential walkup building at 5 4th Place in Carroll Gardens, Brooklyn.
The deal closed on February 2, 2022 and was recorded on February 23, 2022.
The property has 5,300 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $584 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 June 18, 2015, for $2.9 million.
The signatory for Sugar Hill Capital Partners was Margaret Grossman. The signatory for Greenbrook Partners was Gregory Fournier.
Prior to this transaction, the buyer Greenbrook Partners purchased 58 properties in 58 transactions for a total of $243.3 million and sold four properties in four transactions for a total of $26 million over the past 24 months.
The seller Sugar Hill Capital Partners had not purchased any other properties and sold two properties in two transactions for a total of $7.6 million over the same time period.

Greg Fournier is Managing Principal of Greenbrook Partners.
In Carroll Gardens, the majority, or 53 percent of the 9 million square feet of built space are 1-4 family buildings, with residential walkup buildings next occupying 18 percent of the space. In sales, Carroll Gardens has had very little sales volume relative to other neighborhoods with $90.2 million in sales volume in the last two years. For development, Carroll Gardens has had very little major development activity relative to other neighborhoods. It had 43,794 square feet of commercial and multi-family construction under development in the last two years, which represents 0.48 percent of the neighborhood’s built space.
On the tax block, the majority, or 76 percent of the 161,049 square feet of built space are 1-4 family buildings, with residential walkup buildings next occupying 17 percent of the space.
The owners according to the Department of Housing Preservation and Development includes David Schorr, head officer and Doron Yaghoubi, agent. The business entities are Trihill Management Llc and 5 4th Place Residences, Llc.
FALSE

Direct link to Acris document. link