Greenbrook pays $39.7M to Raj Associates for 10 buildings, another $50M in contract

Greenbrook Partners recorded the $39.7 million purchase from Raj Associates of a 10-building portfolio with 84 units on Friday, and a source said there is another $50 million sale between the parties in contract. The 10 buildings closed in 10 separate transactions.

The acquisition was financed by Greenbrook assuming loans totaling $24 million which were assigned by various lenders to entities affiliated and managed by FS Investments and Rialto Capital Management.

There are five other buildings expected to close for an additional $50 million, according to the source. The buildings are 102 Albemarle Road in Kensington, 924 Metropolitan Avenue in East Williamsburg, 71 and 73 Pineapple Street in Brooklyn Heights and 700 Sackett Street in Park Slope.

In the first of the closings, Greenbrook Partners through the entity 269 Henry St, LLC paid Raj Associates’s 269 Henry Associates, LLC $6.9 million for 269 Henry Street in Brooklyn Heights. The deal closed on December 30, 2020 and was recorded on January 15, 2021. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 18 residential units. The property is 9,000 square feet.
The sale price per unit is $384,000. The signatory for the buyer was Gregory Fournier, for the seller was Deepak Raj.

The contract date was December 17, 2020. The last time the property sold was May 31, 2005 for $3,550,000. Deepak Raj leads Raj Associates.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

Direct link to Acris document. link

In the second, Greenbrook Partners through the entity 75 Pineapple St, LLC paid Raj Associates’s 75 Pineapple, LLC $5.7 million for 75 Pineapple Street in Brooklyn Heights. The deal closed on December 30, 2020 and was recorded on January 15, 2021. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 20 residential units. The property is 7,322 square feet.
The sale price per unit is $284,094.

The last time the property sold was February 12, 2007 for $7,400,000.
Direct link to Acris document. link

In the third, Greenbrook Partners through the entity 534 Bergen St, LLC paid Raj Associates’s 534 Bergen Street LLC $4.0 million for 534 Bergen Street in Prospect Heights. The deal closed on December 30, 2020 and was recorded on January 15, 2021. The transaction consists of 1 parcel, including the tax class multifamily, five to six families (C2) and containing 6 residential units. The property is 5,826 square feet.
The average sale price per square foot is $680.

The last time the property sold was November 1, 2016 for $3,000,000.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

Direct link to Acris document. link

In the fourth, Greenbrook Partners through the entity 171 15 St, LLC paid Raj Associates’s 171 15Th LLC $3.9 million for 171 15th Street in Park Slope. The deal closed on December 30, 2020 and was recorded on January 15, 2021. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 8 residential units. The property is 6,264 square feet.
The average sale price per square foot is $615.

The last time the property sold was June 8, 2012 for $1,520,000.
Direct link to Acris document. link

In the fifth, Greenbrook Partners through the entity 287 Henry St, LLC paid Raj Associates’s 287 Henry Street Associates, LLC $3.6 million for 287 Henry Street in Brooklyn Heights. The deal closed on December 30, 2020 and was recorded on January 15, 2021. The transaction consists of 1 parcel, including the tax class multifamily, five to six families (C2) and containing 5 residential units.
The average sale price per square foot is $768.

Direct link to Acris document. link

In the sixth, Greenbrook Partners through the entity 1263 Broadway Bk, LLC paid Raj Associates’s 1263 Broadway Associates LLC $3.6 million for 1263 Broadway in Bushwick. The deal closed on December 30, 2020 and was recorded on January 15, 2021. The transaction consists of 1 parcel, including the tax class primarily five to six family with store or office (S5) and containing 6 residential units.
The average sale price per square foot is $403.

The last time the property sold was November 6, 2015 for $3,650,000.
Direct link to Acris document. link

In the seventh, Greenbrook Partners through the entity 309 Henry St, LLC paid Raj Associates’s 309 Henry Street Associates LLC $3.5 million for 309 Henry Street in Brooklyn Heights. The deal closed on December 30, 2020 and was recorded on January 15, 2021. The transaction consists of 1 parcel, including the tax class primarily three family with store or office (S3) and containing 3 residential units. The property is 4,600 square feet.
The average sale price per square foot is $768.

The last time the property sold was January 6, 2006 for $1,750,000.
Direct link to Acris document. link

In the eighth, Greenbrook Partners through the entity 149 4 Ave, LLC paid Raj Associates’s 149 4Th Ave LLC $3.5 million for 149 4th Avenue in Park Slope. The deal closed on December 30, 2020 and was recorded on January 15, 2021. The transaction consists of 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 8 residential units. The property is 5,940 square feet.
The average sale price per square foot is $593.

The last time the property sold was August 3, 2012 for $2,120,000.
Direct link to Acris document. link

In the ninth, Greenbrook Partners through the entity 142 4 Ave, LLC paid Raj Associates’s 142 4Th Ave LLC $2.6 million for 142 4th Avenue in Gowanus. The deal closed on December 30, 2020 and was recorded on January 15, 2021. The transaction consists of 1 parcel, including the tax class four families (C3) and containing 4 residential units. The property is 4,356 square feet.
The average sale price per square foot is $593.

The last time the property sold was August 14, 2013 for $1,450,000.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

Direct link to Acris document. link

In the tenth, Greenbrook Partners through the entity 1260 Broadway Bk, LLC paid Raj Associates’s 1260 Broadway Owners LLC $2.4 million for 1260 Broadway in Bedford-Stuyvesant. The deal closed on December 30, 2020 and was recorded on January 15, 2021. The transaction consists of 1 parcel, including the tax class multifamily, five to six families (C2) and containing 6 residential units. The property is 6,000 square feet.
The average sale price per square foot is $403.

The last time the property sold was July 22, 2015 for $2,200,000.
Direct link to Acris document. link