Leiby Weiss pays $3.9M to Sage Realty CEO’s partnership for delayed 4-unit project in Williamsburg

Leiby Weiss through the entity 93 South 9 LLC paid $3.9 million to JTS Partners through the entity 93 S 9th Street Owner LLC for a delayed building expansion project at 93 South 9th Street in Williamsburg, Brooklyn. Jonathan Iger, a vice president of the seller entity, is CEO of Sage Realty, which manages properties for the William Kaufman Organization. The former owners originally planned to convert a community facility building to a four-unit residential building under a condominium structure and then sell the units, but that plan has not been completed.
The deal closed on April 30, 2025 and was recorded on May 2, 2025. The property has 5,699 square feet of built space and 654 square feet of additional air rights for a total buildable of 6,356 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $675 and the price per buildable square foot is $605 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.)
JTS Partners bought the property on March 7, 2018, for $2.6 million. The signatory for JTS Partners was Jonathan Iger . The signatory for Leiby Weiss was Leiby Weiss. The contract date was March 5, 2025. JTS Partners was founded in 2016. Jonathan Iger and Shane Webster were each vice presidents of the company, which was in care of Sage Realty’s address.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Leiby Weiss had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller JTS Partners had not purchased any other properties and had not sold any properties over the same time period.

The property

The building with 4 residential units in Williamsburg has 5,699 square feet of built space and 654 square feet of additional air rights for a total buildable of 6,356 square feet according to a PincusCo analysis of city data. The parcel has frontage of 24 feet and is 109 feet deep with a total lot size of 2,616 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $979,000.

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 received $17,500 in ECB penalties and $18,100 in OATH penalties in the last year.

Development

On the lot, there was a active major alteration construction project, 321383472, for a four-unit, 5,666 square-foot residential (R-2) building. The project was submitted by Jonathan Iger and Shane Webster and filed by Tinmin Fong with plans filed July 16, 2018 and permitted January 10, 2020. On the tax lot, the most recent condominium plan was filed by 93 S 9TH STREET OWNER LLC to create 4 residential units in a building at 93 South 9th Street in Williamsburg, Brooklyn, called 93 South 9th Street Condominium that has a $7 million sellout, according to an November 07, 2019 submission to the New York State Attorney General. The principals of the sponsor, 93 S 9TH STREET OWNER LLC, were Jonathan Iger and Shane Webster.

The block

On this tax block, PincusCo has identified the owners of two of the nine commercial properties representing 68,006 square feet of the 92,169 square feet. The two identified owners are Global Holdings Management and Gilman Management.
There are no active new building construction projects on this tax block.

The majority, or 69 percent of the 92,169 square feet of built space are elevator buildings, with mixed-use buildings next occupying 16 percent of the space.

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