Nathan Obstfeld sells 7-unit walkup in Cobble Hill for $6.9M

The entity 159 Baltic Development LLC, by the signatory Aron Scott, paid $6.9 million to Nathan Obstfeld through the entity 159 Baltic Street LLC for the seven-unit residential walkup building (C7) at 159 Baltic Street in Cobble Hill, Brooklyn. The expected use is cash flowing.
The deal closed on July 29, 2025 and was recorded on August 7, 2025. The property has 8,650 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $797 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 August 11, 2021, for $2.3 million. The signatory for Nathan Obstfeld was Stephen S. Siminou . The signatory for the buyer was Aran Scott . The contract date was December 4, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has records that a buyer by the signature of Aran Scott purchased one property in one transaction for a total of $4.2 million and has no record it sold any properties over the past 24 months.
The seller Nathan Obstfeld purchased four properties in four transactions for a total of $34.8 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 Vanessa Soria, head officer and Abraham Miller, agent. The business entity is 159 Baltic Street Llc. The 8,650-square-foot property generated revenue of $385,963 or $45 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 7 residential units in Cobble Hill has 8,650 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The property is in the Cobble Hill Historic District. 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 received $1,250 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of two of the six commercial properties representing 17,050 square feet of the 17,050 square feet. The two identified owners are Greenbrook Partners and Nuchem Obstfeld.
On the tax block, there was one new building construction project filed totaling 600 square feet. It is a one-unit, 600 square-foot residential (R-3) building submitted by Sall Monaco with plans filed January 18, 2017 and it has not been permitted yet.

The majority, or 100 percent of the 17,050 square feet of built space are walkup buildings, with development buildings next occupying 0 percent of the space.

The seller

The PincusCo database currently indicates that Nathan Obstfeld owned at least one commercial property with 19 residential units in New York City with 13,040 square feet and a city-determined market value of $1.2 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Manhattan.

The buyer

The PincusCo database currently indicates that entities with the signature of Aran Scott owned at least four commercial properties with 15 residential units in New York City with 16,830 square feet and a city-determined market value of $9.2 million. (Market value is typically about 50% of actual value.) The portfolio has $5.5 million in debt, borrowed from Stormfield Capital. Within the portfolio, the bulk, or 86 percent of the 16,830 square feet of built space are C3 properties, with C0 properties next occupying 14 percent of the space. They are all located in Brooklyn.

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