Morris Sabbagh pays $6.3M to CW Realty Group for mixed-use in Williamsburg

Morris Sabbagh through the entity Sabbagh Family LLC paid $6.3 million to CW Realty Group through the entity 447 Keap Street LLC for the six-unit mixed-use building (S5) at 447 Keap Street in Williamsburg, Brooklyn.
The deal closed on August 15, 2025 and was recorded on August 29, 2025. The property has 7,644 square feet of built space and 3,877 square feet of additional air rights for a total buildable of 11,517 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $824 and the price per buildable square foot is $547 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 January 19, 2015, for $4.7 million. The signatory for CW Realty Group was Cheskie Weisz . The signatory for Morris Sabbagh was Morris Sabbagh. The contract date was June 12, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Morris Sabbagh had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller CW Realty Group purchased three properties in two transactions for a total of $58.3 million and sold two properties in two transactions for a total of $9.5 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Perl Weisz, head officer and Shaye Falkowitz, agent. The business entity is 447 Keap Llc.

The property

The mixed-use building with 6 residential units in Williamsburg has 7,644 square feet of built space and 3,877 square feet of additional air rights for a total buildable of 11,517 square feet according to a PincusCo analysis of city data. The parcel has frontage of 44 feet and is 86 feet deep with a total lot size of 3,839 square feet. The zoning is M1-2/R6A which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 3 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.6 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 not received any significant violations in the last year.

The neighborhood

In Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 5th highest sale turnover among other neighborhoods in the city with $1.9 billion in sales volume in the last two years. For development, Williamsburg is the most active neighborhood among other neighborhoods. It had 41.7 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of three of the eight commercial properties representing 123,672 square feet of the 137,705 square feet. The largest owner is Hubb Nyc, followed by Bruman Realty and then Consolidated Edison.
On the tax block, there was one new building construction project filed totaling 3,482 square feet. It is a two-unit, 3,482 square-foot residential (R-3) building submitted by Guy Mor and filed by Guy Mor with plans filed October 9, 2024 and permitted April 15, 2025.

The majority, or 90 percent of the 137,705 square feet of built space are elevator buildings, with mixed-use buildings next occupying 7 percent of the space.

The seller

The PincusCo database currently indicates that Cw Realty Group owned at least 29 commercial properties with 367 residential units in New York City with 337,453 square feet and a city-determined market value of $65.7 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 43 percent of the 337,453 square feet of built space are elevator properties, with walkup properties next occupying 33 percent of the space. The bulk, or 87 percent of the built space, is in Brooklyn, with Queens next at 9 percent of the space.

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