NineDot Energy pays $5.2M to Winston Lopez for vacant lot in Hunts Point

NineDot Energy through the entity Swan Landco LLC paid $5.2 million to Winston Lopez through the entity H. L. Uno, LLC for the vacant property at 641 Casanova Street in Hunts Point, Bronx.
The deal closed on February 6, 2024 and was recorded on February 20, 2024.

The signatory for Winston Lopez was Winston Lopez. The signatory for NineDot Energy was Adam Cohen. The contract date was December 9, 2022.

The acquisition was financed with a $6.78 million loan from SolaREIT.

The new lot 90 was created from the previous lot 86, with 90 taking up most of the space.

Urban Future Lab works with NineDot Energy.

According to NineDot Energy’s website, “We are particularly focused on battery energy storage while also enabling solar installations, vehicle charging and even fuel cell energy generation on some of our sites… We work with landowners who are interested in leasing or selling properties with locations, lot size and other characteristics that make them capable of supporting a new, grid-connected energy resource. ”

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer NineDot Energy had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Winston Lopez had not purchased any other properties and had not sold any properties over the same time period.

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.

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 19 of the 63 commercial properties representing 235,359 square feet of the 681,086 square feet. The largest owner is Pearl Realty Management, followed by NYC Department Of Education and then Nuveen Real Estate.
On the tax block, there were four new building construction projects totaling 69,660 square feet. The largest is a 96-unit, 47,748 square-foot residential (R-2) building submitted by Larry Gordon with plans filed September 14, 2021 and it has not been permitted yet. The second largest is a 11,800 square-foot business (B) building submitted by Tamir Gayr with plans filed July 25, 2017 and permitted January 22, 2019.

The majority, or 45 percent of the 681,086 square feet of built space are industrial buildings, with walkup buildings next occupying 36 percent of the space.

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