Greenbrook Partners pays $7.8M for three rentals in Brooklyn, Queens

Greenbrook Partners paid $7.8 million for three rental buildings in Brooklyn and Queens to two separate sellers in three separate transactions.

In the largest, Greenbrook Partners through the entity Greenbrook THR Owner II, L.L.C. paid $3.2 million to Nir Sapir through the entity 25 Van Buren LLC for the six-unit rental (C2) at 25 Van Buren Street in Bedford-Stuyvesant, Brooklyn.
The deal closed on August 17, 2021 and was recorded on September 9, 2021.
The property has 4,572 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $705 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 8/17/21, for $3.2 million.
The signatory for Nir Sapir was Rosemary Hayden. The signatory for Greenbrook Partners was Frederic LeCao.
(320513271)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 6 residential units on July 17, 2014. (320513271) Plans for a 6-unit, 4,572 square-foot R-2 were filed on December 11, 2012 and were permitted on May 21, 2013.
There was a condominium project filed with the address 25 Van Buren Street and the name 25 Van Buren Street Condominium on May 19, 2014. The principals of the sponsor, 25 Van Buren Llc, was Nir Sapir. link
The former owners according to the Department of Housing Preservation and Development included Nir Sapir, head officer and Keren Zohar, site manager. The business entity was 25 Van Buren Llc.

Direct link to Acris document. link

In the second transaction, Greenbrook Partners through the entity Greenbrook THR Owner II, L.L.C. paid $2.3 million to Jacob Fulop through the entity 1863 Linden Street LLC for four-unit four-family building (C3) at 18-63 Linden Street in Ridgewood, Queens.
The deal closed on August 31, 2021 and was recorded on September 9, 2021.
The property has 3,900 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $586 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 8/31/21, for $2.3 million.
The signatory for Jacob Fulop was Jacob Fulop. The signatory for Greenbrook Partners was Frederic LeCao.

The former owners according to the Department of Housing Preservation and Development included Jacob Fulop, head officer and David Solaman, site manager. The business entity was 1863 Linden Street Llc.

Direct link to Acris document. link

In the third, Greenbrook Partners through the entity Greenbrook THR Owner II, L.L.C. paid $2.3 million to Jacob Fulop through the entity Norman Plaza LLC for four-unit four-family building (C3) at 16-36 Norman Street in Ridgewood, Queens.
The deal closed on August 31, 2021 and was recorded on September 9, 2021.
The property has 2,550 square feet of built space and 825 square feet of additional air rights for a total buildable of 3,375 square feet according to PincusCo analysis of city data. The sale price per built square foot is $897 and the price per buildable square foot is $677 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 8/31/21, for $2.3 million.
The signatory for Jacob Fulop was Jacob Fulop. The signatory for Greenbrook Partners was Frederic LeCao.

The former owners according to the Department of Housing Preservation and Development included Jacob Fulop, head officer and David Solaman, agent. The business entities are Norman Plaza Llc and Norman Plaza Llc.

Within a 400-foot radius of 16-36 Norman Street, Pincusco identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, three were in new building development. There were three new building permits. The most recent of these three items was a permit on May 1, 2020 for a 39,054-square-foot R-1 building with 125 residential units at 1616 Summerfield Street.
Of those five items, two were loans above $5 million totaling $12.6 million. The most recent of the two was Urban View Development Group which borrowed $6.6 million from Goldman Sachs Bank Usa secured by the 20,000-square-foot development site (V0) on 1671 Summerfield Street on October 16, 2020.

Direct link to Acris document. link