Simkho Aranbayev through the entity 103 Berry Street LLC paid $3.9 million to Alex Maroni and Bren Salamon through the entity 2 St. Felix Street A, LLC for the six-unit mixed-use building (S5) at 103 Berry Street in Williamsburg, Brooklyn.
The deal closed on September 19, 2023 and was recorded on October 5, 2023. The property has 4,600 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $847 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 March 31, 2021, for $3.4 million. The signatory for Alex Maroni and Bren Salamon was Todd Schwartz. The signatory for Simkho Aranbayev was Simkho Aranbayev. The contract date was July 14, 2023.
Prior sales and revenue
Prior to this transaction, PincusCo has records that the buyer Simkho Aranbayev purchased seven properties in three transactions for a total of $24.9 million and sold two properties in two transactions for a total of $4.9 million over the past 24 months.
The seller Alex Maroni 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 Bren Salamon, head officer and Alex Maroni, officer. The business entity is 2 St Felix St A Llc.
The mixed-use building with 6 residential units in Williamsburg has 4,600 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 23 feet and is 80 feet deep with a total lot size of 1,840 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.8 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 $1,560 in OATH penalties in the last year.
There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.
In Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 5th highest sale turnover among other neighborhoods in the city with $2.7 billion in sales volume in the last two years. For development, Williamsburg is the 9th most active neighborhood among other neighborhoods. It had 4.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space. There were four pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.
On this tax block, PincusCo has identified the owners of eight of the 18 commercial properties representing 47,037 square feet of the 84,875 square feet. The largest owner is Thor Equities, followed by Saul Tawil and then Manjula Mukhopadhyay.
There are no active new building construction projects on this tax block.
The majority, or 57 percent of the 84,875 square feet of built space are walkup buildings, with mixed-use buildings next occupying 27 percent of the space.
The PincusCo database currently indicates that Bren Salamon owned at least one commercial property with 10 residential units in New York City with 4,950 square feet and a city-determined market value of $654,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Brooklyn.
The PincusCo database currently indicates that Simkho Aranbayev owned at least 25 commercial properties with 18 residential units in New York City with 157,112 square feet and a city-determined market value of $32.8 million. (Market value is typically about 50% of actual value.) The portfolio has $16.5 million in debt, borrowed from Signature Bank. Within the portfolio, the bulk, or 56 percent of the 157,112 square feet of built space are retail properties, with mixed-use properties next occupying 35 percent of the space. The bulk, or 46 percent of the built space, is in Brooklyn, with Queens next at 33 percent of the space.
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