Joel Schwartz pays $6M to Gerald Wetzel for warehouse property in Greenpoint

Joel Schwartz through the entity 494 Manhattan LLC paid Gerald Wetzel’s Wetzel, Gerald $6.3 million for 494 Manhattan Avenue in Greenpoint. The deal closed on January 29, 2020, and was recorded on February 5, 2020. The transaction consists of 1 parcel, including the tax class miscellaneous warehouse (E9). The property is 7,108 square feet. The parcel(s) have total development potential of 19,391 square feet.
The average sale price per square foot is $322.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link