Michael Weitzman pays $7.5M to Jeffry Cohen for mixed-use building in Williamsburg
Michael Weitzman through the entity 135 Kent LLC paid $7.5 million to Jeffry Cohen through the entity 135 Kent Avenue Management Corp. for the 10-unit mixed-use building (K4) at 135 Kent Avenue in Williamsburg, Brooklyn.
The deal closed on August 2, 2021 and was recorded on August 19, 2021.
The property has 25,000 square feet of built space and 12,500 square feet of additional air rights for a total buildable of 37,500 square feet according to PincusCo analysis of city data. The sale price per built square foot is $300 and the price per buildable square foot is $200 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 Jeffry Cohen was Jeffry Cohen. The signatory for Michael Weitzman was Michael Weitzman.
(301522476)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with one residential unit on March 10, 2014.
The former owners according to the Department of Housing Preservation and Development includes Jeffry Cohen, head officer and Jo-Ann Cohen, officer. The business entity was 135 Kent Avenue Management Corp.
Within a 400-foot radius of 135 Kent Avenue, PincusCo identified nine commercial real estate items of interests occurred over the past 24 months.
Of those nine items, two were for major renovation including a certificate of occupancy change. They were one permit with a total initial cost of $1.7 million and one initial temporary certificate of occupancy issuance for a project that initially costed $1.4 million. The most recent of these two items was the temporary certificate of occupancy on January 21, 2021 for a 4,681-square-foot M building with N/A residential units at 60 North 6th Street.
One of those nine items was a sale which Dominic Lanni’s L3 Capital bought the development site (V1) on 133 Kent Avenue and three other properties for $28.4 million from ASB Real Estate Investments and L3 Capital on January 9, 2020.
Of those nine items, six were loans above $5 million totaling $195.3 million. The most recent of the six was Asana Partners which borrowed $26.5 million from Synovus Bank secured by the 10,000-square-foot, one-unit retail building (J2) on 66 North 6th Street and two other properties on May 18, 2021.
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