Investor pays $11.9M to William W. Koeppel in bankruptcy for rental in Bay Ridge

The entity 140 Brp, LLC with member Ernest Saasto as signatory, paid $11.9 million to William W. Koeppel, who filed for personal bankruptcy, for the 43-unit rental (D1) at 140 Bay Ridge Parkway in Bay Ridge, Brooklyn.
The deal closed on September 30, 2021 and was recorded on November 10, 2021.
The property has 37,000 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $321 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 William W. Koeppel was William W. Koeppel. The signatory for Ernest Saasto was Ernest Saasto.

The property was sold pursuant to a bankruptcy for the individual William W. Koeppel.
The former owners according to the Department of Housing Preservation and Development included William Koeppel, head officer and Jonathan Bakhash, agent. The business entities were Livingston Management Services Llc and Wwk 140 Bay Ridge, Llc.

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