Israel Twerski affiliate pays $6M for 31-unit rental in Williamsburg
Israel Twerski as signatory through the entity 186 Hooper LLC paid $6 million to Daniel Nathan Knoll and Yael Guttman through the entity Avery Gold 186 LLC for the 31-unit residential elevator building (D1) at 186 Hooper Street in Williamsburg, Brooklyn.
The deal closed on January 16, 2024 and was recorded on January 24, 2024. The property has 27,281 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $221 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 Daniel Nathan Knoll and Yael Guttman was Daniel Nathan Knoll and Yael Guttman. The signatory for Israel Twerski was Israel Twerski. The contract date was June 19, 2023.
Prior sales and revenue
Prior to this transaction, PincusCo has no record that the buyer Israel Twerski had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Daniel Nathan Knoll had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Morris Knoll, head officer and Jacob Weinberg, officer. The business entity is G K W Realty Co.
The property
The residential elevator building with 31 residential units in Williamsburg has 27,281 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 74 feet and is 100 feet deep with a total lot size of 7,400 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $4 million.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $3,750 in ECB penalties and $3,800 in OATH penalties in the last year.
Development
There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.
The block
On this tax block, PincusCo has identified the owners of five of the 10 commercial properties representing 100,076 square feet of the 125,181 square feet. The largest owner is Yehudith Mayer, followed by Knoll Family and then Harry Dreyfuss.
There are no active new building construction projects on this tax block.
The majority, or 45 percent of the 125,181 square feet of built space are elevator buildings, with walkup buildings next occupying 35 percent of the space.
The buyer
The PincusCo database currently indicates that Israel Twerski owned at least one commercial property with six residential units in New York City with 6,398 square feet and a city-determined market value of $843,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Brooklyn.
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