Homeless agency pays $6.1M for parking lot in East New York

The homeless services nonprofit Lantern Community Services through the entity Euclid Glenmore Housing Development Fund Corp paid William Stein’s 404 Pine LLC $6.1 million for 435 Euclid Avenue in East New York. The deal closed on January 27, 2021 and was recorded on March 2, 2021. The transaction consists of 1 parcel, including the tax class unlicensed parking lot (G7).

The last time the property sold was March 23, 2006 for $1,500,000.
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.

There has been one new building permit application. Those plans include a total of 135 residential units.

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The signatory for the buyer or lender was Daniel Kent