Rabsky Group through the entity President Union LLC paid All Year Management’s President Carroll LLC $80.0 million for a stake in 8 parcels, including the tax class licensed parking lot (G6) at 319 Bond Street, 327 Bond Street, and others in Gowanus. The deal closed on August 12, 2019 and was recorded on August 19, 2019. The parcel(s) have total development potential of 293,466 square feet.
The average sale price per square foot is $601.
The transaction was for an 84.21 percent interest. The Real Deal, citing recent Tel Aviv Stock Exchange filings, reported that the actual transacted price was $80 million, and the total value of the property was $95 million.
CORRECTION: The total value of the asset was $95 million while the stake acquired was $80 million. A previous version of the story put the transacted value at $95 million.