Jacob Fulop pays $20M for 20-unit walkup in Greenpoint

Jacob Fulop through the entity Greenpoint Lofts Nyc LLC paid $20 million to Diego Salazar through the entity 233 Franklin Street Realty Corp. for the 20-unit residential walkup building (C1) at 233 Franklin Street in Greenpoint, Brooklyn.
The deal closed on November 17, 2025 and was recorded on November 24, 2025. The property has 27,309 square feet of built space and 21,200 square feet of additional air rights for a total buildable of 48,600 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $732 and the price per buildable square foot is $411 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 Diego Salazar was Diego Salazar. The signatory for Jacob Fulop was Jacob Fulop. The contract date was June 11, 2025.

Recent activity for Jacob Fulop:

• Jacob Fulop filed plans for new building for 51,699 sqft in Borough Park, Brooklyn, on November 03, 2025.

• Jacob Fulop borrowed $2.5 million from S3 Capital for 726 Franklin Avenue on September 18, 2025.

• Steve Bailey sold 726 Franklin Avenue for $3.1 million to Jacob Fulop on September 18, 2025.

• Richard Pogostin sold 703 East 6 Street for $3.5 million to Jacob Fulop on August 28, 2025.

• Michael Tong 2 sold 1254A Bedford Avenue for $4 million to Jacob Fulop on August 04, 2025.

• Jacob Fulop filed plans for new building for 76,269 sqft in Bedford Stuyvesant, Brooklyn, on June 12, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Jacob Fulop purchased eight properties in eight transactions for a total of $29.4 million and sold two properties in two transactions for a total of $12.5 million over the past 24 months.
The seller Diego Salazar 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 Diego Salazar, head officer and William Demos, officer. The business entity is 233 Franklin Street Realty Corp. The 27,309-square-foot property generated revenue of $1 million or $37 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 20 residential units in Greenpoint has 27,309 square feet of built space and 21,200 square feet of additional air rights for a total buildable of 48,600 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 200 feet deep with a total lot size of 20,000 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 $5 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 three housing violations and $650 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 four of the five commercial properties representing 28,559 square feet of the 28,559 square feet. The largest owner is Brandon Wechsler, followed by Park Tower Group and then Brookfield Properties.
On the tax block, there was one new building construction project filed totaling 365,651 square feet. It is a 378-unit, 365,651 square-foot residential (R-2) building submitted by Park Tower Group and filed by Guy Morton with plans filed October 26, 2021 and permitted March 27, 2023.

The majority, or 96 percent of the 28,559 square feet of built space are walkup buildings, with specialty buildings next occupying 4 percent of the space.

The buyer

The PincusCo database currently indicates that Jacob Fulop owned at least 33 commercial properties with 257 residential units in New York City with 271,921 square feet and a city-determined market value of $50.2 million. (Market value is typically about 50% of actual value.) The portfolio has $169.5 million in debt, with top three lenders as Bank of Montreal, Bank of Princeton, and Bank Leumi respectively. Within the portfolio, the bulk, or 35 percent of the 271,921 square feet of built space are walkup properties, with industrial properties next occupying 26 percent of the space. The bulk, or 91 percent of the built space, is in Brooklyn, with Manhattan next at 9 percent of the space.

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