Greenbrook Partners pays $7.7M to Joel Schwartz for 8-unit rental in Greenpoint

Greenbrook Partners through the entity Greenbrook THR Owner Ii, L.L.C. paid $7.7 million to Joel Schwartz through the entity Guernsey Estate LLC for eight-unit rental (C1) at 88 Guernsey Street in Greenpoint, Brooklyn.
The deal closed on September 13, 2021 and was recorded on October 1, 2021.
The property has 4,126 square feet of built space and 875 square feet of additional air rights for a total buildable of 5,000 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,877 and the price per buildable square foot is $1,549 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 July 3, 2014, for $2.3 million.
The signatory for Joel Schwartz was Joel Schwartz.
(320942566)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 8 residential units on January 12, 2017.
The former owner according to the Department of Housing Preservation and Development was Charles Schwartz, head officer. The business entity is Guernsey Estate Llc.

Within a 400-foot radius of 88 Guernsey Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
They were all for building rehabilitation or alteration that require a change to the certificate of occupancy. They were one permit applications with a total initial cost of $500,000 and one permit with a total initial cost of $572,185. The most recent of these two items was the permit on July 20, 2020 for a 8,680-square-foot A-2 building with no residential units at 46 Norman Avenue.

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