Precise Management signs contract to sell six Brooklyn properties

The entity Jay Zed LLC signed a contract to pay Precise Management through the entity Quincy Marcus504 Development Corp for the 17-unit co-op (C6) at 277 Quincy Street in Bedford-Stuyvesant, Brooklyn, 12-unit rental (C1) at 66 Lewis Avenue in Bedford-Stuyvesant, Brooklyn, and six-unit rental (C2) at 67 Stuyvesant Avenue in Bedford-Stuyvesant, Brooklyn.
The deal closed on July 19, 2021 and was recorded on September 1, 2021.
The six properties have 46,671 square feet of built space according to PincusCo analysis of city data. The contract price was not disclosed. The sale is expected to close on or before March 1, 2022.
The signatory for Precise Management was Cheryl E. Ighodaro. The signatory for Jay Zed LLC was Alexander Hofstedter.

Cheryl E. Ighodaro is the president of Precise Management.
The owners according to the Department of Housing Preservation and Development includes Cheryl Ighodaro, head officer and Angela Hall, site manager. The business entity is Quincy Marcus 504 Development Corp.

Within a 400-foot radius of 16 Menahan Street, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months.
Of those eight items, one was in new building development. It was a new building permit application filed on November 22, 2019 for a 19,786-square-foot R-2 building with 34 residential units at 1001 Bushwick Avenue.
Of those eight items, one was for major renovation including a certificate of occupancy change. It was a permit issued on December 5, 2019 for the $605,707 renovation of 3,803-square-foot R-2 building with six residential units at 31 Bleecker St.
Of those eight items, two were sales above $5 million totaling $28.6 million. The most recent of the two was Kohlberg Kravis Roberts & Co. which bought the 25,268-square-foot, 22-unit rental (D7) on 412 Evergreen Avenue for $15.7 million from Bruman Realty on October 26, 2020.
Of those eight items, four were loans above $5 million totaling $42.5 million. The most recent of the four was Carlyle Group which borrowed $22.0 million from Invesco Real Estate secured by the 4,013-square-foot, two-unit two-family building (B2) on 27 Bleecker Street and 10 other properties on January 13, 2021.

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