Lloyd Properties pays $3.4M to RYCO Capital for mixed-use in South Slope

Lloyd Properties through the entity 548 6th Owner LLC paid $3.4 million to RYCO Capital through the entity Keystone 548 Sixth LLC for the mixed-use building (S2) with two residential units and one commercial unit at 548 6th Avenue in South Slope, Brooklyn. The expected use is cash flowing.
The deal closed on December 18, 2025 and was recorded on December 22, 2025. The property has 5,875 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $574 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 January 19, 2021, for $3 million. The signatory for RYCO Capital was James D. Ryan III . The signatory for Lloyd Properties was David Lloyd . The contract date was September 9, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Lloyd Properties purchased 10 properties in 10 transactions for a total of $36.2 million and sold one property in one transaction for a total of $3.4 million over the past 24 months.
The seller RYCO Capital purchased 11 properties in nine transactions for a total of $161.3 million and sold four properties in three transactions for a total of $54.6 million over the same time period.

The property

The mixed-use building with 2 residential units in South Slope has 5,875 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $6.8 million.

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 $2,900 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on June 12, 2014. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In South Slope, The bulk, or 47 percent of the 4.6 million square feet of commercial built space are walkup buildings, with mixed-use buildings next occupying 21 percent of the space. In sales, South Slope has had very little sales volume relative to other neighborhoods with $217.2 million in sales volume in the last two years. For development, South Slope has had very little major development activity relative to other neighborhoods.It had 522,102 square feet of commercial and multi-family construction under development in the last two years, which represents 11 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of six of the 20 commercial properties representing 46,007 square feet of the 136,883 square feet. The largest owner is Alchemy Ventures, followed by Andy Pitsillos and then Prince Mondal.
On the tax block, there was one new building construction project filed totaling 3,000 square feet. It is a four-unit, 3,000 square-foot residential (R-2) building submitted by Nicola D’Agostino with plans filed December 20, 2019 and it has not been permitted yet.

The majority, or 56 percent of the 136,883 square feet of built space are walkup buildings, with elevator buildings next occupying 25 percent of the space.

The seller

The PincusCo database currently indicates that Ryco Capital owned at least 20 commercial properties with 275 residential units in New York City with 267,417 square feet and a city-determined market value of $140.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 49 percent of the 267,417 square feet of built space are walkup properties, with mixed-use properties next occupying 26 percent of the space. The bulk, or 96 percent of the built space, is in Manhattan, with Brooklyn next at 4 percent of the space.

The buyer

The PincusCo database currently indicates that Lloyd Properties owned at least nine commercial properties with 83 residential units in New York City with 50,305 square feet and a city-determined market value of $17.5 million. (Market value is typically about 50% of actual value.) The portfolio has $2.4 million in debt, borrowed from Derby Copeland Capital. Within the portfolio, all identified are walkup properties. They are all located in Brooklyn.

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