Jonas Equities pays $27M to Rothenberg-Rosenfield, Inc. for unsold co-op units in Fort Greene

An entity registered at the address of Jonas Equities paid $27 million for 75 cooperative units at the 1980s-era conversion of University Towers in Fort Greene, Brooklyn. The acquisitions occurred in two transactions.

(Last week, PincusCo reported on the U.K. billionaire Pears brothers who have acquired unsold co-ops and condominiums with an investment valued at $147 million since at least 2011 in Manhattan and Queens.)

In the first transaction, an entity registered at the address of Jonas Equities through the entity Ut Z Units LLC paid Rothenberg-Rosenfield, Inc.’s University Towers Associates L.P. $23.4 million for 122 Ashland Place in Fort Greene. The deal closed on June 25, 2020, and was recorded on July 6, 2020. The transaction consists of 65 parcels, including the tax class cooperative (D4).

This is a transfer of interest of residential cooperative units from Daniel Rosenberg and Michael Rothenberg to an entity registered with Jonas Equities, in the 547-unit University Towers, a co-op that became effective in 1989.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 183 residential (or hotel) units on September 13, 2016.
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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $83,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the second transaction, Jonas Equities through the entity Ut Units Acquisition LLC paid Rothenberg-Rosenfield Inc.’s University Towers Associates L.P. $3.6 million for 122 Ashland Place and 191 Willoughby Street in Fort Greene. The deal closed on June 25, 2020, and was recorded on July 6, 2020. The transaction consists of 10 parcels, including the tax class cooperative (D4).

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 183 residential (or hotel) units on September 13, 2016.
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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $83,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link