Peter Papamichael pays $3.1M for retail in Williamsburg

Peter Papamichael through the entity Lic01 LLC paid $3.1 million to Elizabeth Comerford through the entity Cilium Corp. for the specialty retail (P9) at 184 North 8th Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on April 13, 2026 and was recorded on April 20, 2026. The property has 7,200 square feet of built space and 2,800 square feet of additional air rights for a total buildable of 10,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $430 and the price per buildable square foot is $310 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 Elizabeth Comerford was Elizabeth Comerford. The signatory for Peter Papamichael was Peter Papamichael. The contract date was April 13, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Peter Papamichael had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Elizabeth Comerford had not purchased any other properties and had not sold any properties over the same time period.

The property

The specialty building in Williamsburg has 7,200 square feet of built space and 2,800 square feet of additional air rights for a total buildable of 10,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 5,000 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 $728,000.

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 neighborhood

In Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 6th highest sale turnover among other neighborhoods in the city with $2.1 billion in sales volume in the last two years. For development, Williamsburg is the most active neighborhood among other neighborhoods. It had 42 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 12 of the 25 commercial properties representing 77,005 square feet of the 132,978 square feet. The largest owner is Manjula Mukhopadhyay, followed by Jamal Alokasheh and then Moshe Silberstein.
There are no active new building construction projects on this tax block.

The majority, or 54 percent of the 132,978 square feet of built space are walkup buildings, with mixed-use buildings next occupying 37 percent of the space.

The buyer

The PincusCo database currently indicates that Peter Papamichael owned at least one commercial property in New York City with 5,840 square feet and a city-determined market value of $3.4 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single retail property.

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