Sehoon Park pays $3.9M to G-Way Management for mixed-use in Clinton Hill

Sehoon Park through the entity 1015 Fulton Realty LLC paid $3.9 million to G-Way Management through the entity 1015 Fulton LLC for the two-unit mixed-use building (S2) at 1015 Fulton Street in Clinton Hill, Brooklyn.
The deal closed on July 16, 2026 and was recorded on July 23, 2026. The property has 2,400 square feet of built space and 3,797 square feet of additional air rights for a total buildable of 6,200 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,604 and the price per buildable square foot is $620 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 seller bought the property on January 25, 2008, for $880,000. The signatory for G-Way Management was Tina Georgi . The contract date was May 16, 2026.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Sehoon Park had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller G-Way Management had not purchased any other properties and sold one property in one transaction for a total of $9.7 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Rachel Phipps , head officer and Vishal Super, site manager. The business entity is 1015 Fulton Llc.

The property

The mixed-use building with 2 residential units in Clinton Hill has 2,400 square feet of built space and 3,797 square feet of additional air rights for a total buildable of 6,200 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 81 feet deep with a total lot size of 1,550 square feet. The lot is irregular. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.1 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 received $1,250 in ECB penalties, two housing violations, and $1,380 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Clinton Hill, The bulk, or 34 percent of the 10.8 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 17 percent of the space. In sales, Clinton Hill has 1.4 times the average sales volume among other neighborhoods with $514.4 million in sales volume in the last two years and is the 12th highest in Brooklyn. For development, Clinton Hill has had very little major development activity relative to other neighborhoods.It had 696,004 square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of four of the eight commercial properties representing 62,402 square feet of the 73,163 square feet. The largest owner is Susan Khani , followed by G-Way Management and then Papa Salif Cisse.
On the tax block, there were three new building construction projects totaling 24,511 square feet. The largest is a 10-unit, 8,187 square-foot residential (R-2) building submitted by Watermark Capital Group and filed by Joel Werzberger with plans filed October 24, 2023 and permitted December 17, 2024. The second largest is a one-unit, 8,162 square-foot residential (R-3) building submitted by Michael Landsman with plans filed January 10, 2018 and it has not been permitted yet.

The majority, or 75 percent of the 73,163 square feet of built space are elevator buildings, with mixed-use buildings next occupying 9 percent of the space.

The seller

The PincusCo database currently indicates that G-Way Management owned at least 53 commercial properties with 248 residential units in New York City with 306,928 square feet and a PincusCo-determined asset value of $141.2 million. Within the portfolio, the bulk, or 43 percent of the 306,928 square feet of built space are walkup properties, with mixed-use properties next occupying 41 percent of the space.

Direct link to Acris document. link