Marc Jacobowitz’s Bluejay Management pays $2.5M to church for development in Crown Heights

Marc Jacobowitz’s Bluejay Management through the entity 1233 EPW LLC paid Temple of Blessings Church of God in Christ, Inc. $2.5 million for 1229 Eastern Parkway in Crown Heights. The deal closed on December 18, 2019, and was recorded on December 24, 2019. The transaction consists of 1 parcel, including the tax class church, synagogue, chapel (M1). The property is 4,050 square feet. The parcel has total development potential of 12,823 square feet.
The average sale price per square foot is $195.

This is the third building in a row along Eastern Parkway which Bluejay purchased. The firm now controls 110 feet of frontage. Bluejay filed plans in May 2019 for a 51-unit, 44,914-square-foot residential building on the parcels.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $31,330.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link