John Cestaro pays $3M for industrial in East Williamsburg

John Cestaro through the entity J Star Realty LLC paid $3 million to the Piccininni family through the entity CCT Holdings LLC for the industrial building (GW) at 184 Maspeth Avenue in East Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on November 14, 2025 and was recorded on December 15, 2025. The property has 5,375 square feet of built space and 14,409 square feet of additional air rights for a total buildable of 19,739 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $558 and the price per buildable square foot is $151 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 signatory for Christine Piccininni was Christine Piccininni. The signatory for John Cestaro was John Cestaro. The contract date was November 13, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer John Cestaro had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Christine Piccininni had not purchased any other properties and had not sold any properties over the same time period.

The property

The industrial building in East Williamsburg has 5,375 square feet of built space and 14,409 square feet of additional air rights for a total buildable of 19,739 square feet according to a PincusCo analysis of city data. The parcel has frontage of 279 feet and is 70 feet deep with a total lot size of 19,739 square feet. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $1,000,000.

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 not received any significant violations 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 neighborhood

In East Williamsburg, The majority, or 62 percent of the 17.1 million square feet of commercial built space are industrial buildings, with walkup buildings next occupying 11 percent of the space. In sales, East Williamsburg has 1.3 times the average sales volume among other neighborhoods with $391.7 million in sales volume in the last two years and is the 18th highest in Brooklyn. For development, East Williamsburg has 1.2 times the average amount of major developments relative to other neighborhoods and is the 8th highest in Brooklyn. It had 1.8 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space. There were two pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of two of the six commercial properties representing 97,500 square feet of the 186,195 square feet. The two identified owners are Rimon Gabbay and Rocco Tomassetti.
There are no active new building construction projects on this tax block.

All properties are industrial.

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