Rockrose records contract to buy Fort Greene development site from Robert Kotler

The Elghanayan family’s Rockrose Development through the entity Ashland Dekalb LLC signed recorded a contract to buy from Robert Kotler’s Barnes-Kotler Ford, Inc. 96 Dekalb Avenue, 98 Dekalb Avenue and 104 Dekalb Avenue in Fort Greene. The memorandum of contract was signed on January 21, 2020, and was recorded on January 28, 2020. The transaction consists of 3 parcels, including the tax class primarily three family with store or office (S3) and containing 7 residential units. The parcels as they are have total development potential of 195,842 square feet, according to an analysis by PincusCo.

The sale price is expected to be about $60 million, according to The Real Deal, but additional air rights could increase the land acquisition costs to $75 million. JLL’s Bob Knakal and Stephen Palmese marketed the property for sale. The contract was signed May 28, 2019 and is expected to close before May 28, 2020, city records showed.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $26,280.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link