Mantomi Co. pays $8.5M to Peak for 7-unit walkup in Williamsburg

The Japan-based firm Mantomi Co. through the entity Mantomi Co., Ltd paid $8.5 million to Peak Capital Advisors through the entity 150 N Owner LLC for the seven-unit residential walkup building (C1) at 150 North 9th Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on January 24, 2025 and was recorded on February 20, 2025. The property has 5,500 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,545 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 May 24, 2022, for $4.7 million. The signatory for Peak Capital Advisors was Alex Rabin . The signatory for Mantomi Co. was Devin Yasuda . The contract date was December 24, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Mantomi Co. had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Peak Capital Advisors purchased 25 properties in 20 transactions for a total of $147.1 million and sold three properties in two transactions for a total of $39.3 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes David Gomez, head officer and Cynthia Ramirez, site manager. The business entity is 150 N Owner Llc.

The property

The residential walkup building with 7 residential units in Williamsburg has 5,500 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 $1.8 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 $50 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 12 of the 24 commercial properties representing 63,450 square feet of the 118,450 square feet. The largest owner is Stanley Panek, followed by Krystyna Malik and then Alex Rabin.
There are no active new building construction projects on this tax block.

The majority, or 82 percent of the 118,450 square feet of built space are walkup buildings, with mixed-use buildings next occupying 18 percent of the space.

The seller

The PincusCo database currently indicates that Peak Capital Advisors owned at least 57 commercial properties with 595 residential units in New York City with 499,495 square feet and a city-determined market value of $152.2 million. (Market value is typically about 50% of actual value.) The portfolio has $166 million in debt, with top three lenders as Derby Copeland Capital, Argentic Investment Management, and Prime Finance respectively. Within the portfolio, the bulk, or 82 percent of the 499,495 square feet of built space are walkup properties, with mixed-use properties next occupying 11 percent of the space. The bulk, or 41 percent of the built space, is in Manhattan, with Brooklyn next at 36 percent of the space.

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