Platinum Realty pays $6M for five small properties with 15 units in Bushwick

Platinum Realty Associates through the entity 75 Suy LLC paid $6 million to Ben Terrany through the entity Suydam 77, LLC for five buildings with a total of 15 units from the four-unit building (C3) at 75 Suydam Street to 83 Suydam Street, in Bushwick. The expected use is cash flowing.
The deal closed on December 16, 2025 and was recorded on January 8, 2026. The five properties have 10,059 square feet of built space and 1,340 square feet of additional air rights for a total buildable of 11,406 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $596 and the price per buildable square foot is $526 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 Ben Terrany was Michelle Schmitt . The signatory for Platinum Realty Associates was Peter Young . The contract date was October 8, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Platinum Realty Associates purchased 15 properties in 12 transactions for a total of $67.6 million and sold two properties in one transaction for a total of $4 million over the past 24 months.
The seller Ben Terrany 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 properties for the past 24 months. In addition, according to city public data, the properties have received two housing 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 the tax block of 75 Suydam Street, PincusCo has identified the owners of one of the six commercial properties representing 7,410 square feet of the 37,188 square feet. The identified owner is Abraham Franczoz.
There are no active new building construction projects on this tax block.

The majority, or 40 percent of the 37,188 square feet of built space are walkup buildings, with mixed-use buildings next occupying 39 percent of the space.

The buyer

The PincusCo database currently indicates that Platinum Realty Associates owned at least 91 commercial properties with 60 residential units in New York City with 572,118 square feet and a city-determined market value of $127.7 million. (Market value is typically about 50% of actual value.) The portfolio has $60.8 million in debt, with top three lenders as Signature Bank, First National Bank of Long Island, and Customers Bank respectively. Within the portfolio, the bulk, or 62 percent of the 572,118 square feet of built space are retail properties, with mixed-use properties next occupying 31 percent of the space. The bulk, or 62 percent of the built space, is in Queens, with Brooklyn next at 32 percent of the space.

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