Regal pays $11.7M to Rockpoint Group for two properties in Williamsburg

Regal Acquisitions through the entity Regal 184 Kent Ave LLC paid $11.7 million to Rockpoint Group through the entity 184 Kent Owner Lp for a commercial condo (CC) and parking space at 184 Kent Avenue in Williamsburg, Brooklyn.
The deal closed on April 22, 2021 and was recorded on June 29, 2021.
The two properties have 75,680 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $154 per the PincusCo analysis.
The signatory for Rockpoint Group was Roh J. Hoyl. The signatory for Regal Acquisitions was Alexander Smith.
Over the past five years, there have been 52 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $295,200. There were 51 renovation/alteration projects (A2) applied for with a total estimated value of $12.7 million.
Within a 400-foot radius of 184 Kent Avenue, PincusCo identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, two were for major renovation including a certificate of occupancy change. They were one permit applications with a total initial cost of $1.7 million and one permit with a total initial cost of $283,500. The most recent of these two items was the filing on May 22, 2021 for a 6,142-square-foot residential R-2 building with five residential units at 60 North 3rd Street.
Of those four items, two were loans above $5 million totaling $119.2 million. The most recent of the two was DLJ Real Estate Capital Partners which borrowed $35.0 million from Sterling National Bank secured by the 54,000-square-foot, 50-unit rental (D5) on 151 Kent Avenue on March 24, 2020.

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