Owemanco pays $3.8M to Firebird for 21-unit rental in Crown Heights, was $4.3M in 2020

Owemanco through the entity Owemanco’s Crown Heights Run L.P. paid $3.8 million to Firebird Grove through the entity OR 665 St. Marks LLC for the 21-unit residential elevator building (D9) at 665 St Marks Avenue in Crown Heights, Brooklyn. The expected use is cash flowing.
The deal closed on March 30, 2026 and was recorded on April 28, 2026. The property has 17,790 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $213 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 October 6, 2020, for $4.3 million. The signatory for Firebird Grove was Adam Semler . The signatory for Owemanco was Sohail Zayona . The contract date was November 12, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Owemanco purchased three properties in three transactions for a total of $19 million and has no record it sold any properties over the past 24 months.
The seller Firebird Grove purchased 10 properties in two transactions for a total of $32.9 million and sold two properties in two transactions for a total of $7 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Marla Siegel, head officer and Jair Gutierrez, site manager. The business entity is Or 665 St. Marks, Llc. The 17,790-square-foot property generated revenue of $481,785 or $27 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 21 residential units in Crown Heights has 17,790 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 60 feet and is 125 feet deep with a total lot size of 7,515 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.8 million. The property has 12 rent regulated units according to city tax records from 2024.

Transaction Participants

Edwin T. Brondo, Jr. at Brach Eichler LLC participated in the transaction on behalf of the buyer.

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 $50 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 24 of the 38 commercial properties representing 153,953 square feet of the 200,278 square feet. The largest owner is Joel Fekete, followed by Yeshaya Wasserman and then Graph Group.
On the tax block, there was one new building construction project filed totaling 7,427 square feet. It is a nine-unit, 7,427 square-foot residential (R-2) building submitted by Shai Birenzweig with plans filed February 27, 2018 and permitted January 8, 2019.

The majority, or 62 percent of the 200,278 square feet of built space are walkup buildings, with elevator buildings next occupying 19 percent of the space.

The seller

The PincusCo database currently indicates that Firebird Grove owned at least 52 commercial properties with 410 residential units in New York City with 367,275 square feet and a PincusCo-determined asset value of $340.3 million. The portfolio has $37 million in debt, with top three lenders as Derby Copeland Capital, Bank of America, and Signature Bank respectively. Within the portfolio, the bulk, or 54 percent of the 367,275 square feet of built space are walkup properties, with mixed-use properties next occupying 33 percent of the space. The bulk, or 51 percent of the built space, is in Brooklyn, with Manhattan next at 48 percent of the space.

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