Joel Schwartz pays $7.4M for mixed-use in Park Slope

Joel Schwartz through the entity 63 4th Ave Brooklyn LLC paid $7.4 million to James McGown through the entity 6365 Fourth Avenue Corp. for two-unit mixed-use building (K4) at 63 4th Avenue in Park Slope, Brooklyn and four-unit mixed-use building (S4) at 65 4th Avenue in Park Slope, Brooklyn.
The deal closed on June 3, 2021 and was recorded on June 17, 2021.
The two properties have 8,819 square feet of built space and 12,197 square feet of additional air rights for a total buildable of 21,009 square feet according to PincusCo analysis of city data. The sale price per built square foot is $839 and the price per buildable square foot is $352 per the PincusCo analysis.
The signatory for James McGown was James McGown. The signatory for Joel Schwartz was Joel Schwartz.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.

There has been one new building permit application Those plans include a total of 30 residential units.

There has been one demolition project filed for the parcels over the past five years. The demolition included 4 residential units.
The owners according to the Department of Housing Preservation and Development includes James McGown, head officer and Rolf Grimsted, officer. The business entity is Brooklyn Theatrical Corp.
Within a 400-foot radius of 65 4th Avenue, PincusCo identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, five were in new building development. There were four new building permit applications and one new building permit. The most recent of these five items was a filing on December 16, 2020 for a 46,985-square-foot R-2 building with 53 residential units at 52 4th Avenue.
Of those seven items, one was for major renovation including a certificate of occupancy change. It was a permit issued on December 26, 2019 for the $400,000 renovation of 4,000-square-foot B building with 0 residential units at 84 Saint Marks Place.
One of those seven items was a sale which Tolib Mansurov’s Global Industries bought the 4,504-square-foot, five-unit mixed-use building (S4) on 75 4th Avenue and three other properties for $13 million from Mary Sparagna on February 18, 2020.

Direct link to Acris document. link