Robin Damaghi pays $10.8M for 4-unit building with dev site in Carroll Gardens

Robin Damaghi through the entity 76 1st Pl LLC paid $10.8 million to William Sbarbaro, Nicholas Liverani, and Michelle Pellegrino through the entity Gugliara, Jeanne for the four-unit building at 76 1st Place and an adjacent development parcel. in Carroll Gardens, Brooklyn.
On the lot, there is one active new building construction project for a six-unit, 10,974 square-foot R-2 building. The project was submitted by Robin Damaghi with plans filed July 12, 2023 and it has not been permitted yet. Damaghi proposes to build the new six-unit building on what is now a driveway.

The deal closed on July 26, 2023 and was recorded on August 3, 2023. The property has 6,404 square feet of built space and 9,343 square feet of additional air rights for a total buildable of 15,747 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,686 and the price per buildable square foot is $685 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 William Sbarbaro, Nicholas Liverani, and Michelle Pellegrino was William Sbarbaro, Nicholas Liverani, and Michelle Pellegrino. The signatory for Robin Damaghi was Robin Damaghi. The contract date was February 22, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Robin Damaghi had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller William Sbarbaro had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Maryann Zaccario, joint owner and Nicholas Liverani, joint owner.

The property

The building with 4 residential units in Carroll Gardens has 6,404 square feet of built space and 9,343 square feet of additional air rights for a total buildable of 15,747 square feet according to a PincusCo analysis of city data. The parcel has frontage of 52 feet and is 100 feet deep with a total lot size of 5,249 square feet. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.5 million.

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.

The block

On this tax block, PincusCo has identified the owners of six of the 16 commercial properties representing 30,728 square feet of the 85,495 square feet. The largest owner is Scott Elgart, followed by Sarah Di Stefano Trustee and then Jonathan Holman.
On the tax block, there was one new building construction project filed totaling 10,974 square feet. It is a six-unit, 10,974 square-foot residential (R-2) building submitted by Robin Damaghi with plans filed July 12, 2023 and it has not been permitted yet.

The majority, or 84 percent of the 85,495 square feet of built space are walkup buildings, with mixed-use buildings next occupying 9 percent of the space.

Direct link to Acris document. link