Lender DLJ Mortgage takes title to 3-unit in Fort Greene with $2M transfer price

The lender on the property, DLJ Mortgage Capital through the entity DLJ Mortgage Capital, Inc. acquired the three-unit building (C0) at 450 Carlton Avenue in Fort Greene, Brooklyn through a foreclosure auction, with a transfer price of $2 million.
The transfer closed on November 27, 2023 and was recorded on December 11, 2023. The property has 2,700 square feet of built space and 4,035 square feet of additional air rights for a total buildable of 6,738 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $740 and the price per buildable square foot is $296 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 former owner bought the property on July 22, 2005, for $814,600. The signatory for the court was referee Doron Leiby. The contract date was November 2, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer DLJ Mortgage Capital 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 Carlyle Ebanks, individual owner and Corey Ebanks, site manager. The business entity is Java 58 Llc.

The property

The 1-4 family building with 3 residential units in Fort Greene has 2,700 square feet of built space and 4,035 square feet of additional air rights for a total buildable of 6,738 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 98 feet deep with a total lot size of 1,959 square feet. The zoning is R7-2 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.3 million.

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

There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 93,171 square feet of built space are specialty buildings, with development buildings next occupying 0 percent of the space.

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