Naftoli Jacobowitz pays $4.4M to Taconic Investment for retail building in Greenpoint

Naftoli Jacobowitz through the entity 257 Driggs Ave LLC paid $4.4 million to Taconic Investment Partners through the entity Eckford And Driggs Associates LLC for the retail building (K1) at 70-84 Eckford Street in Greenpoint, Brooklyn.
The deal closed on November 16, 2021 and was recorded on December 14, 2021.
The property has 6,401 square feet of built space and 6,401 square feet of additional air rights for a total buildable of 12,802 square feet according to PincusCo analysis of city data. The sale price per built square foot is $687 and the price per buildable square foot is $343 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 3, 2016, for $4.7 million.
The signatory for Taconic Investment Partners was Scott Rabacs. The signatory for Naftoli Jacobowitz was Naftoli Jacobowitz.

Within a 400-foot radius of 70-84 Eckford Street, PincusCo identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, one was in new building development. It was a new building permit application filed on May 27, 2021 for a 18,042-square-foot R-2 building with 25 residential units at 540 Graham Avenue.
Of those four items, two were for major renovation including a certificate of occupancy change. They were one permit with a total initial cost of $533,125 and one initial temporary certificate of occupancy issuance for a project that initially costed $350,597. The most recent of these two items was the temporary certificate of occupancy on July 9, 2020 for an R-3 building with two residential units at 75 Eckford Street.
One of those four items was a loan which Nicholas Notias borrowed $7.2 million from JPMorgan Chase secured by two condo units in 19-unit mixed-use building (RM) on 501 Leonard Street on July 15, 2020.

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