Maier Jankovits pays $1.6M for 5-unit walkup in East Williamsburg

Maier Jankovits through the entity 81 Beadel LLC paid $1.6 million to Stanley Gomes and John Gomes through the entity Gomes, John for the five-unit residential walkup building (C2) at 81 Beadel Street in East Williamsburg, Brooklyn.
The deal closed on August 14, 2023 and was recorded on August 22, 2023. The property has 3,300 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $490 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 Stanley Gomes and John Gomes was Stanley Gomes and John Gomes. The signatory for Maier Jankovits was Maier Jankovits.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Maier Jankovits purchased three properties in three transactions for a total of $16.6 million and has no record it sold any properties over the past 24 months.
The seller Stanley Gomes had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Maria Gomes, individual owner.

The property

The residential walkup building with 5 residential units in East Williamsburg has 3,300 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 100 feet deep with a total lot size of 2,000 square feet. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $1.1 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 $75 in OATH penalties in the last year.

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

On this tax block, PincusCo has identified the owners of five of the 18 commercial properties representing 13,200 square feet of the 82,540 square feet. The largest owner is Rafael Matos Castro, followed by Mike Ianniciello and then Maier Jankovits.
On the tax block, there was one new building construction project filed totaling 6,667 square feet. It is a 6,667 square-foot storage (S-2) building submitted by Michele Ianniciello with plans filed October 26, 2015 and it has not been permitted yet.

The majority, or 60 percent of the 82,540 square feet of built space are walkup buildings, with industrial buildings next occupying 36 percent of the space.

The buyer

The PincusCo database currently indicates that Maier Jankovits owned at least four commercial properties with 17 residential units in New York City with 12,427 square feet and a city-determined market value of $3.5 million. (Market value is typically about 50% of actual value.) The portfolio has $30 million in debt, borrowed from Ponce Bank and Valley National Bank. Within the portfolio, the bulk, or 73 percent of the 12,427 square feet of built space are elevator properties, with walkup properties next occupying 27 percent of the space. They are all located in Brooklyn.

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