Israel Weiss pays $2.3M for 4-unit walkup in Williamsburg

Israel Weiss through the entity 139 S 8th St LLC paid $2.3 million to Aron Taub through the entity Nora Nj LLC for the four-unit building (C3) at 139 South 8th Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on July 29, 2024 and was recorded on August 20, 2024. The property has 6,494 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $354 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 Aron Taub was Aron Taub. The signatory for Israel Weiss was Israel Weiss. The contract date was February 1, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Israel Weiss had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Aron Taub had not purchased any other properties and had not sold any properties over the same time period.

The property

The building with 4 residential units in Williamsburg has 6,494 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 22 feet and is 101 feet deep with a total lot size of 2,287 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 $802,000.

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 $1,250 in ECB penalties and $1,250 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 three of the nine commercial properties representing 31,849 square feet of the 101,186 square feet. The two identified owners are Anthony Gurino and Vittorio Antonini.
There are no active new building construction projects on this tax block.

The majority, or 45 percent of the 101,186 square feet of built space are mixed-use buildings, with elevator buildings next occupying 25 percent of the space.

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