Neighborhood Property pays $5.5M to Regal Acquisitions for garage in Williamsburg

Neighborhood Property Group through the entity Npg Ny1 184 Kent LLC paid $5.5 million to Regal Acquisitions through the entity Regal 184 Kent Ave LLC for the garage condo unit at 184 Kent Avenue in Williamsburg, Brooklyn.
The deal closed on September 30, 2021 and was recorded on November 23, 2021.
The property has 58,348 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $94 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 April 22, 2021, for $11.7 million.
The signatory for Regal Acquisitions was Gabriel Chehebar. The signatory for Neighborhood Property Group was Michael Jackowitz.
(302306751)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 339 residential units on August 2, 2012.
Michael Jackowitz is the CEO of Neighborhood Property Group.
There was a condominium project filed with the address 184 Kent Avenue and the name Austin Nichols House Condominium on May 1, 2015. The principals of the sponsor, 184 Kent Owner Llc, was Jared Kushner. link

Within a 400-foot radius of 184 Kent Avenue, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on May 22, 2021 for the $1.7 million renovation of 6,142-square-foot R-2 building with five residential units at 60 North 3rd Street.
Of those three items, two were loans above $5 million totaling $119.2 million. The most recent of the two was DLJ Real Estate Capital Partners which borrowed $35 million from Sterling National Bank secured by the 54,000-square-foot, 50-unit rental (D5) on 151 Kent Avenue on March 24, 2020.

Direct link to Acris document. link