Investor Samuel Strulovitch claims $7.25M contract for Brooklyn portfolio
1355 60th Street (Credit - Google)
Investor Samuel Strulovitch alleges he has a contract to purchase nine Brooklyn properties from respondent for $7.25 million, but that the seller through an intermediary, required an additional written agreement, which Strulovitch did not initially sign, but later agreed to, according to the complaint.
Strulovitch states he remains ready and willing to buy the properties at the $7.25 million price. “Defendants unilaterally set an arbitrary deadline for compliance with their demand. (December 26, 2022)… On Monday December 26, 2022, Plaintiff sent to Defendants a signed contract with additional terms they requested,” but that was rejected by the respondents, according to the complaint.
The properties are 1355 60th Street, 1357 60th Street, 5902 New Utrecht Avenue, 5904 New Utrecht Avenue, 5906 New Utrecht Avenue, 5908 New Utrecht Avenue, 5910 New Utrecht Avenue, 5912 New Utrecht Avenue and 5614 New Utrecht Avenue. The properties are owned by Jack Montag.
One example property is 1355 60th Street, an industrial building with two residential units in Borough Park has 5,890 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 32 feet and is 158 feet deep with a total lot size of 4,994 square feet. The lot is irregular. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $397,000.
Direct link to the property’s ACRIS page and link to DOB NOW portal.