Joel Schwartz signs contract to buy industrial from Moses Guttman in Williamsburg

Joel Schwartz through the entity North 7 Apartments LLC signed a contract as buyer with Moses Guttman through the entity Gold North 7 LLC as seller for industrial (F5) at 304 North 7th Street in Williamsburg, Brooklyn. No price was disclosed in the filing.
The memorandum of contract was dated December 10, 2021 and was recorded on January 3, 2022.
The property has 6,600 square feet of built space and 14,025 square feet of additional air rights for a total buildable of 20,655 square feet according to PincusCo analysis of city data. (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 November 14, 2014, for $2.4 million.
The signatory for Moses Guttman was Moses Guttman. The signatory for Joel Schwartz was Joel Schwartz.

Within a 400-foot radius of 304 North 7th Street, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months.
Of those eight items, one was in new building development. It was a new building permit issued on September 1, 2021 for a 90,518-square-foot R-1 building with 224 residential units at 292 North 8th Street.
Of those eight items, one was for major renovation including a certificate of occupancy change. It was a permit issued on November 17, 2020 for the $347,000.0 renovation of 5,271-square-foot R-2 building with seven residential units at 295 North 7th Street.
Of those eight items, two were sales above $5 million totaling $47.2 million. The most recent of the two was Marimo Co., Ltd. which bought the 5,500-square-foot, eight-unit rental (C1) on 69 Havemeyer Street for $5.8 million from Joseph Sutton and Wharton Properties on January 22, 2020.
Of those eight items, four were loans above $5 million totaling $136.1 million. The most recent of the four was Joel Schwartz which borrowed $5.1 million from Bridge City Funding secured by the 2,850-square-foot, three-unit three-family building (C0) on 295 North 7th Street on October 22, 2021.

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