L3 Capital pays $20.5M to Robert Li to add to dev site in Williamsburg
L3 Capital through the entity L3 200 Bedford LLC paid $20.5 million to Robert Li through the entity 200-202 Realty LLC for two-unit mixed-use building (S2) at 200 Bedford Avenue in Williamsburg, Brooklyn and two-unit mixed-use building (S2) at 202 Bedford Avenue in Williamsburg, Brooklyn.
The deal closed on December 3, 2021 and was recorded on January 6, 2022.
The two properties have 8,700 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $2,356 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 Robert Li was Robert Li. The signatory for L3 Capital was Domenic Lanni.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
Domenic Lanni is Co-Founder and Managing Principal at L3 Capital.
Within a 400-foot radius of 200 Bedford Avenue, PincusCo identified 13 commercial real estate items of interests occurred over the past 24 months.
Of those 13 items, one was in new building development. It was a new building permit application filed on August 23, 2021 for a 16,750-square-foot M building at 184 Bedford Avenue.
Of those 13 items, six were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $677,300, two permits with a total initial cost of $999,000 and two initial temporary certificate of occupancy issuances for projects that initially costed $8.6 million. The most recent of these six items was the permit on July 28, 2021 for a 6,462-square-foot M building with 0 residential units at 136 North 6th Street.
One of those 13 items was a sale which L3 Capital bought the 2,510-square-foot, four-unit mixed-use building (S3) on 184 Bedford Avenue and 13 other properties for $145 million from RedSky Capital on January 8, 2021.
Of those 13 items, five were loans above $5 million totaling $218.7 million. The most recent of the five was Kevin Nealis which borrowed $5.5 million from Ridgewood Savings Bank secured by the 10,150-square-foot, 18-unit rental (C7) on 189 Bedford Avenue on August 5, 2021.
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