Khdr Swed pays $2.8M to Maguire Capital, Eliezer Schwimer for 3-family in Williamsburg

Khdr Swed through the entity Swar Developers LLC paid $2.8 million to Maguire Capital Group and Eliezer Schwimer through the entity Maguire Bkln VII LLC for the three-unit walkup (C0) at 92 South 4th Street in Williamsburg, Brooklyn.
The deal closed on February 14, 2023 and was recorded on February 21, 2023. The property has 4,140 square feet of built space and 1,449 square feet of additional air rights for a total buildable of 5,589 square feet according to PincusCo analysis of city data. The sale price per built square foot is $676 and the price per buildable square foot is $500 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 May 16, 2022, for $2.4 million. The signatory for Maguire Capital Group and Eliezer Schwimer was Eliezer Schwimer. The signatory for Khdr Swed was Khdr Swed.

Maguire Capital Group partnered with Watermark Capital Group to acquire a large parcel in Sunset Park.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Khdr Swed had purchased any other properties and has no record it sold any properties over the past 24 months.
The former owners according to the Department of Housing Preservation and Development includes Eleizer Schwimer, head officer and Moses Karpen, site manager. The business entity is Maguire Bkln Ix Llc.

The property

The 92 South 4th Street parcel has frontage of 23 feet and is 100 feet deep with a total lot size of 2,300 square feet. The zoning is M1-2/R6 which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 2.43 times FAR for residential. The city-designated market value for the property in 2022 is $4 million.The most recent loan totaled $11.2 million and was provided by Lightstone Group on May 16, 2022.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property since September of 2020. In addition, according to city public data, the property has received $50 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $5 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of six of the 14 commercial properties representing 204,090 square feet of the 326,915 square feet. The largest owner is Phillip Miller, followed by Mona Gora and then Meadow Partners.
There are no active new building construction projects on this tax block.

The majority, or 55 percent of the 245,362 square feet of built space are elevator buildings, with office buildings next occupying 30 percent of the space.

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