Metropolitan Council on Jewish Poverty pays $6.8M to Asset Realty for warehouse in East Flatbush

Metropolitan Council on Jewish Poverty paid $6.8 million to Asset Realty & Construction Group, Inc. through the entity Preston Court II, LLC for a warehouse (E1) at 5361 Preston Court in East Flatbush, Brooklyn.
The deal closed on November 19, 2021 and was recorded on December 10, 2021.
The property has 21,687 square feet of built space and 3,821 square feet of additional air rights for a total buildable of 25,477 square feet according to PincusCo analysis of city data. The sale price per built square foot is $315 and the price per buildable square foot is $268 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 Asset Realty & Construction Group, Inc. was Dino Tomassetti, Jr. The signatory for Metropolitan Council on Jewish Poverty was Matthew LoCurto.

Dino Tomassetti, Jr. is president and CEO of Asset Realty & Construction Group, Inc.
Within a 400-foot radius of 5361 Preston Court, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Clutter borrowed $23.8 million from FS Investments and FS CREIT Originator LLC secured by the 72,000-square-foot, one-unit industrial (E7) on 5601 Foster Avenue and one other property on September 20, 2021.

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