Greenbrook Partners pays $3.3M for residential walkup in Williamsburg

Greenbrook Partners through the entity 233 S 3 St, LLC paid $3.3 million to the entity Lucila C 233 LLC for the eight-unit residential walkup building (C7) at 233 South 3rd Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on July 1, 2025 and was recorded on July 17, 2025. The property has 5,285 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $629 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 December 5, 2022, for $3.2 million. The signatory for Greenbrook Partners was Gregory P. Fournier . The contract date was April 14, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Greenbrook Partners purchased 81 properties in 78 transactions for a total of $330 million and sold 23 properties in 23 transactions for a total of $135.5 million over the past 24 months.
The seller Harout Nalbandian 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 Juan Ramos, head officer and Israel Rosario, officer. The business entities are Los Sures Management Co. Inc and Southside United Hdfc.

The property

The residential walkup building with 8 residential units in Williamsburg has 5,285 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 76 feet deep with a total lot size of 1,554 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 $1.6 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 not received any significant violations 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 nine of the 13 commercial properties representing 163,831 square feet of the 199,027 square feet. The largest owner is Metropolitan Realty Group, followed by All Year Management and then Elizabeth Markowitz.
On the tax block, there were three new building construction projects totaling 22,466 square feet. The largest is a eight-unit, 9,058 square-foot residential (R-2) building submitted by Jordan Preston with plans filed July 17, 2017 and it has not been permitted yet. The second largest is a eight-unit, 9,008 square-foot residential (R-2) building submitted by Jordan Preston with plans filed May 5, 2017 and it has not been permitted yet.

The majority, or 78 percent of the 199,027 square feet of built space are walkup buildings, with elevator buildings next occupying 11 percent of the space.

The seller

The PincusCo database currently indicates that Harout Nalbandian owned at least one commercial property with eight residential units in New York City with 5,285 square feet and a city-determined market value of $2 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Brooklyn.

The buyer

The PincusCo database currently indicates that Greenbrook Partners owned at least 332 commercial properties with 1,641 residential units in New York City with 1,502,770 square feet and a city-determined market value of $494 million. (Market value is typically about 50% of actual value.) The portfolio has $354.7 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 50 percent of the 1,502,770 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.

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