Lane Capital acquires Chaskiel Strulovitch bankrupt property in Sunset Park valued at $7.8M

Lane Capital Partners through the entity Lcp Slope Fee Owner, LLC acquired Chaskiel Strulovitch’s bankrupt property 665-667 5th Avenue valued at $7.8 million in Sunset Park. The deal closed on January 13, 2021 and was recorded on January 28, 2021. The transaction consists of 1 parcel, including the tax class retail building with apartments above (K4) and containing 8 residential units. The property is 23,400 square feet.
The average sale price per square foot is $335. The signatory for the buyer was Alan Leavitt.

The property, formerly owned by Chaskiel Strulovitch, was acquired following a bankruptcy liquidation. The last time the property sold was September 9, 2013 for $8,500,000. Lane Capital acquired the debt in 2017. The contract date was August 7, 2020. Many of Strulovitch’s properties are in bankruptcy.
Over the past five years, there have been 2 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 $2,593,800.0. Those filings sought to increase the number of residential units by 10 to 18

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