Joel Schwartz signs 49-year lease valued at $13.4M in Williamsburg

Joel Schwartz through the company North 11 Suites LLC, as tenant, signed a memorandum of lease with landlord Mark Berezowsky through its entity Ommy Associates, LLC for 1 parcel, including the tax class retail building with apartments above (K4) at 209 North 11th Street in Williamsburg. The memorandum was signed on January 19, 2021 and was recorded on March 8, 2021
The property contains a total of 10,000 square feet of built space.
The 49-year lease is valued at 13,419,036. The lease started on January 1, 2021 and ends on December 31, 2069.
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 53 residential units.

There has been one demolition project filed for the parcels over the past five years.

Direct link to Acris document. link