Silvio Lazo pays $2.3M for industrial in Red Hook

Silvio Lazo of CNS Construction, through the entity 144 Centre Street, LLC paid $2.3 million to Zdzislaw Mikolajczyk for the industrial building (F5) at 144 Centre Street in Red Hook, Brooklyn.
The deal closed on August 28, 2024 and was recorded on September 6, 2024. The property has 5,032 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $457 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 Zdzislaw Mikolajczyk was Zdzislaw Mikolajczyk. The signatory for Silvio Lazo was Silvio Lazo. The contract date was September 12, 2023. Silvio Lazo owns CNS Construction in Brooklyn.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Silvio Lazo had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Zdzislaw Mikolajczyk had not purchased any other properties and had not sold any properties over the same time period.

The property

The industrial building in Red Hook has 5,032 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 40 feet and is 100 feet deep with a total lot size of 3,999 square feet. The lot is irregular. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $488,000.

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.

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 Red Hook, The bulk, or 40 percent of the 11.8 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 24 percent of the space. In sales, Red Hook has had very little sales volume relative to other neighborhoods with $120.4 million in sales volume in the last two years. For development, Red Hook has near average amount of major developments among other neighborhoods and is the 17th highest in Brooklyn. It had 1.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 9 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

The majority, or 84 percent of the 91,375 square feet of built space are industrial buildings, with mixed-use buildings next occupying 9 percent of the space.

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