Jacob Zicherman files plans to convert 3-unit to 10-unit in Buswick

Jacob Zicherman submitted a major alteration application for a conversion of three-unit, 4,327 square-foot residential (R-2) building at 294 Schaefer Street in Bushwick, Brooklyn to a 10-unit building. The plan was filed with the New York City Department of Buildings on December 1, 2022 under job number B08041320. It calls for the increase in size of the building from a two-story building with three dwelling units to a four-story building with 10 dwelling units. The project is described in the filing as: proposed vertical extension on existing two-story building, proposing four-story plus penthouse residential building (with a) total of 10 apartments.

The property

The existing property with three residential units in Bushwick has 4,440 square feet of built space and 3,799 square feet of additional air rights for a total buildable of 8,242 square feet according to a PincusCo analysis of city data. The parcel has two buildings with frontage of 33 feet and is 100 feet deep with a total lot size of 3,392 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 $1.7 million.

Violations and lawsuits

According to city public data, the property has received $100 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Bushwick, The bulk, or 44 percent of the 33.4 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 18 percent of the space. In sales, Bushwick has near average sales volume among other neighborhoods with $1 billion in sales volume in the last two years and is the 3rd highest in Brooklyn. For development, Bushwick has near average amount of major developments among other neighborhoods and is the 12th highest in Brooklyn. It had 1.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of five of the 18 commercial properties representing 24,738 square feet of the 78,546 square feet. The largest owner is Moshe Deutsch, followed by David Behin and then Yolanda Baez. There are no active new building construction projects on this tax block.

The owner

The owners according to the Department of Housing Preservation and Development includes Eligio Marini, individual owner and Nancy Marini, agent.

The surrounding

This is the first commercial real estate event of interest identified within the 400-foot radius of 294 Schaefer Street in the past 24 months.

Direct link to the property’s ACRIS page and link to DOB NOW portal.