Orin Portnoy pays $4.7M to Jacob Kiffel for industrial in Greenpoint

Orin Portnoy through the entity Norman Dobbin, LLC paid $4.7 million to Jacob Kiffel through the entity 34 Norman Avenue, LLC for industrial (F4) at 16 Norman Avenue in Greenpoint, Brooklyn.
The deal closed on September 10, 2021 and was recorded on September 21, 2021.
The property has 8,304 square feet of built space and 823 square feet of additional air rights for a total buildable of 9,150 square feet according to PincusCo analysis of city data. The sale price per built square foot is $566 and the price per buildable square foot is $514 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 signatory for Jacob Kiffel was Jacob Kiffel. The signatory for Orin Portnoy was Orin Portnoy.

Within a 400-foot radius of 16 Norman Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
They were all for building rehabilitation or alteration that require a change to the certificate of occupancy. They were one permit applications with a total initial cost of $500,000 and one permit with a total initial cost of $572,185. The most recent of these two items was the permit on July 20, 2020 for an 8,680-square-foot A-2 building with no residential units at 46 Norman Avenue.

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