Kang, Oh pay $3.1M for 5-unit rental in Brooklyn Heights

Min Sung Kang and Ju Young Oh paid $3.1 million to Miriam Katowitz and The Estate of Arthur J Radin for the five-unit rental (C2) at 40 Schermerhorn Street in Brooklyn Heights, Brooklyn.
The deal closed on May 11, 2021 and was recorded on June 28, 2021.
The property has 4,275 square feet of built space and 0 square feet of additional air rights for a total buildable of 3,717 square feet according to PincusCo analysis of city data. The sale price per built square foot is $725 per the PincusCo analysis.
The signatory for Miriam Katowitz and The Estate of Arthur J Radin was Miriam Katowitz. The signatory for Min Sung Kang and Ju Young Oh was Min Sung Kang.

The former owners according to the Department of Housing Preservation and Development included Art Radin, joint owner and Miriam Katowitz, joint owner.
Within a 400-foot radius of 40 Schermerhorn Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, one was for major renovation including a certificate of occupancy change. It was an initial temporary certificate of occupancy issued on November 13, 2019 for the $3.8 million renovation of 0-square-foot R-2 building with 22 residential units at 67 Livingston Street.
One of those three items was a sale which Anthony LaConte bought the 15,000-square-foot, seven-unit office building (O2) on 81 Court Street for $11.5 million from Investors Bank on November 30, 2020.
One of those three items was a loan which Kahen Properties borrowed $11.3 million from Signature Bank secured by the 15,867-square-foot, 20-unit mixed-use building (K4) on 80 Livingston Street and two other properties on March 30, 2020.

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