Keter Holdings pays $7.7M for 3 small rentals in Park Slope

Keter Holdings paid $7.7 million to three separate sellers for three small rental buildings in Park Slope.

In the first, Keter Holdings through the entity Keter 397 9th Street LLC paid $3 million to the Kupferman family through the entity 397 9th St LLC for the two-unit building (B3) at 397 9th Street in Park Slope, Brooklyn.
The deal closed on August 24, 2023 and was recorded on August 31, 2023.

The property has 3,600 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $833 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 Kupferman family was Neil Kupferman. The signatory for Keter Holdings was Michael Silverman. The contract date was August 22, 2023. Keter Holdings is owned by Michael and Samuel Silverman.

In the second, Keter Holdings through the entity Keter 35 Park Place LLC paid $2.7 million to Nellie Salomon through the entity Park Place 35 LLC for the four-unit building (C3) at 35 Park Place in Park Slope, Brooklyn. The deal closed on August 24, 2023 and was recorded on August 31, 2023.

The property has 3,025 square feet of built space and 299 square feet of additional air rights for a total buildable of 3,332 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $892 and the price per buildable square foot is $810 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 seller bought the property on July 15, 2016, for $1.7 million. The signatory for Nellie Salomon was Michael Salomon. The signatory for Keter Holdings was Michael Silverman. The contract date was February 17, 2023.

In the third, Keter Holdings through the entity Keter 274 9th Street LLC paid $2 million to Steven Katz through the entity Metro 9 NY LLC for the four-unit building (C3) at 274 9th Street in Park Slope, Brooklyn. The deal closed on August 24, 2023 and was recorded on August 31, 2023.

The property has 2,874 square feet of built space and 1,171 square feet of additional air rights for a total buildable of 4,041 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $694 and the price per buildable square foot is $493 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 seller bought the property on December 30, 2020, for $1.5 million. The signatory for Keter Holdings was Michael Silverman. The contract date was August 24, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Keter Holdings through Michael Silverstein had purchased two other properties for a total of $5.3 million and has no record it sold any properties over the past 24 months.
The seller Kupferman family had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Charles Kupferman, head officer and Ruth Kupferman, officer. The business entities are Nsk Management Llc and Houses ”R” Us, Llc.

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 block

On this tax block, PincusCo has identified the owners of two of the 14 commercial properties representing 30,616 square feet of the 97,944 square feet. The two identified owners are Pantazis Livanos and Jackson Group.
There are no active new building construction projects on this tax block.

The majority, or 44 percent of the 97,944 square feet of built space are walkup buildings, with mixed-use buildings next occupying 35 percent of the space.

The seller

The PincusCo database currently indicates that Kupferman Family owned at least five commercial properties with 25 residential units in New York City with 19,368 square feet and a city-determined market value of $4.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Brooklyn.

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