Greenbrook Partners pays $4.1M for 6-unit mixed-use in Park Slope

Greenbrook Partners through the entity 291 7th Avenue Owner LLC paid $4.1 million for the six-unit mixed-use building (S5) at 291 Seventh Avenue in Park Slope, Brooklyn. The expected use is cash flowing.
The deal closed on July 17, 2025 and was recorded on July 30, 2025. The property has 4,720 square feet of built space and 31 square feet of additional air rights for a total buildable of 4,752 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $868 and the price per buildable square foot is $862 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 signatory for the seller Marianna Delfino was Marianna Delfino. The signatory for Greenbrook Partners was Gregory Fournier . The contract date was May 12, 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 $330.7 million and sold 23 properties in 23 transactions for a total of $138.1 million over the past 24 months.
The seller Marianna Delfino 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 Marianna Delfino, head officer and Jaimie Delfino, shareholder. The business entity is Marianna Delfino Llc. The 4,720-square-foot property generated revenue of $210,606 or $45 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 6 residential units in Park Slope has 4,720 square feet of built space and 31 square feet of additional air rights for a total buildable of 4,752 square feet according to a PincusCo analysis of city data. The parcel has frontage of 19 feet and is 80 feet deep with a total lot size of 1,584 square feet. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The property is in the Park Slope Historic District Extension. The city-designated market value for the property in 2022 is $2.5 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 neighborhood

In Park Slope, The bulk, or 36 percent of the 9.8 million square feet of commercial built space are walkup buildings, with mixed-use buildings next occupying 26 percent of the space. In sales, Park Slope has 2.8 times the average sales volume among other neighborhoods with $759.2 million in sales volume in the last two years and is the 6th highest in Brooklyn. For development, Park Slope has had very little major development activity relative to other neighborhoods.It had 1 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of two of the nine commercial properties representing 18,331 square feet of the 50,383 square feet. The two identified owners are Meadow Partners and Joseph Volpicelli Living Trust.
There are no active new building construction projects on this tax block.

The majority, or 73 percent of the 50,383 square feet of built space are mixed-use buildings, with walkup buildings next occupying 27 percent of the space.

The buyer

The PincusCo database currently indicates that Greenbrook Partners owned at least 334 commercial properties with 1,655 residential units in New York City with 1,512,855 square feet and a city-determined market value of $497.8 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 50 percent of the 1,512,855 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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