Jacob Fulop pays $4.2M for 9-unit walkup in Williamsburg
754 Grand Street (Credit - Google)
Jacob Fulop through the entity Grand Lofts NYC LLC paid $4.2 million to Candido P. Fernandez through the entity Pambar Realty LLC for the nine-unit residential walkup building (C4) at 754 Grand Street in Williamsburg, Brooklyn. The contract was signed February 2020.
The deal closed on July 31, 2023 and was recorded on August 15, 2023.
The seller bought the property on December 9, 2014, for $4.3 million.
Prior sales and revenue
The current owners according to the Department of Housing Preservation and Development include Jacob Fulop, head officer and David Salamon, site manager. The business entity is Grand Lofts Ny Llc.
The property
The parcel has frontage of 24 feet and is 100 feet deep with a total lot size of 2,433 square feet. The zoning is C4-4A which allows for up to 4 times floor area ratio (FAR) for commercial and up to 4 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.7 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 one DOB violation in the last year.
Development
On the lot, there was one active major alteration construction project for a nine-unit, 9,361 square-foot R-2 building. The project was submitted by Candido Fernandez with plans filed November 9, 2017.
The block
On this tax block, PincusCo has identified the owners of 11 of the 19 commercial properties representing 104,401 square feet of the 149,967 square feet. The largest owner is Ahmed Doumah, followed by Aron Gumbu and then Emmanuel Ku.
On the tax block, there was one new building construction project filed totaling 10,504 square feet. It is a 10-unit, 10,504 square-foot residential (R-2) building submitted by Jeffrey Siegel with plans filed March 25, 2013 and permitted January 5, 2016.
The majority, or 43 percent of the 149,967 square feet of built space are walkup buildings, with elevator buildings next occupying 34 percent of the space.
Direct link to Acris document. link