Jane Capital pays $2.8M to Moses Grunfeld for 8-unit walkup in Bushwick

Jane Capital through the entity Starr 131 LLC paid $2.8 million to Moses Grunfeld through the entity 131 Starr LLC for the eight-unit residential walkup building (C1) at 131 Starr Street in Bushwick, Brooklyn. The expected use is cash flowing.
The deal closed on June 5, 2025 and was recorded on June 26, 2025. The property has 7,800 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $352 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 seller bought the property on April 2, 2009, for $800,000. The signatory for Moses Grunfeld was Moses Grunfeld. The signatory for Jane Capital was Laurent Wendum . The contract date was April 29, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Jane Capital purchased one property in one transaction for a total of $1.5 million and has no record it sold any properties over the past 24 months.
The seller Moses Grunfeld had not purchased any other properties and sold one property in one transaction for a total of $1.9 million over the same time period. The former owner according to the Department of Housing Preservation and Development is Chain Greenfield, head officer. The business entity is 131 Starr Llc.

The property

The residential walkup building with 8 residential units in Bushwick has 7,800 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 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 $1.6 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 28 housing violations and $4,990 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 31 of the 47 commercial properties representing 191,198 square feet of the 274,951 square feet. The largest owner is Riseboro Community Partnership, followed by Zee Spira and then Cayuga Capital Management.
On the tax block, there was one new building construction project filed totaling 5,373 square feet. It is a eight-unit, 5,373 square-foot residential (R-2) building submitted by Barak Ben and filed by Barak Ben with plans filed December 16, 2024 and it has not been permitted yet.

The majority, or 88 percent of the 274,951 square feet of built space are walkup buildings, with mixed-use buildings next occupying 8 percent of the space.

The seller

The PincusCo database currently indicates that Moses Grunfeld owned at least two commercial properties with 12 residential units in New York City with 9,750 square feet and a city-determined market value of $1.6 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Brooklyn.

The buyer

The PincusCo database currently indicates that Jane Capital owned at least four commercial properties with 33 residential units in New York City with 31,497 square feet and a city-determined market value of $5.7 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. The bulk, or 74 percent of the built space, is in Brooklyn, with Queens next at 26 percent of the space.

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