SMA Equities pays $3.5M to Meadow Partners for 5-unit walkup in Williamsburg

SMA Equities through the entity Simin 276, LLC paid $3.5 million to Meadow Partners through the entity 718 Lorimer Owner LLC for the five-unit residential walkup building (C2) at 718 Lorimer Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on September 16, 2025 and was recorded on September 22, 2025. The property has 4,125 square feet of built space and 1,500 square feet of additional air rights for a total buildable of 5,625 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $848 and the price per buildable square foot is $622 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 July 22, 2021, for $2.2 million. The signatory for Meadow Partners was Jeffrey Kaplan . The contract date was June 26, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer SMA Equities purchased five properties in two transactions for a total of $28.4 million and sold three properties in three transactions for a total of $25.7 million over the past 24 months.
The seller Meadow Partners purchased one property in one transaction for a total of $37 million and sold four properties in four transactions for a total of $137.5 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Douglas Baillie, head officer and Romina Trieshi, site manager. The business entities are Livingston Management Services Llc and 718 Lorimer Owners Llc. The 4,125-square-foot property generated revenue of $117,315 or $28 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 5 residential units in Williamsburg has 4,125 square feet of built space and 1,500 square feet of additional air rights for a total buildable of 5,625 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 75 feet deep with a total lot size of 1,875 square feet. The zoning is M1-2/R6A which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 3 times 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 $50 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 block

On this tax block, PincusCo has identified the owners of eight of the 18 commercial properties representing 109,902 square feet of the 176,761 square feet. The largest owner is Anna Brenda, followed by Pinchus Rottenberg and then Moses Mizrahi.
On the tax block, there was one new building construction project filed totaling 17,994 square feet. It is a 20-unit, 17,994 square-foot residential (R-2) building submitted by Ricatto Property Management and filed by Michael Ricatto with plans filed December 28, 2021 and it has not been permitted yet.

The majority, or 48 percent of the 176,761 square feet of built space are elevator buildings, with walkup buildings next occupying 19 percent of the space.

The seller

The PincusCo database currently indicates that Meadow Partners owned at least 34 commercial properties with 403 residential units in New York City with 1,478,606 square feet and a city-determined market value of $342.1 million. (Market value is typically about 50% of actual value.) The portfolio has $644 million in debt, with top three lenders as Deutsche Pfandbriefbank, Fortress Investment Group, and Hudson Bay Capital Management respectively. Within the portfolio, the bulk, or 60 percent of the 1,478,606 square feet of built space are office properties, with walkup properties next occupying 14 percent of the space. The bulk, or 76 percent of the built space, is in Manhattan, with Brooklyn next at 24 percent of the space.

The buyer

The PincusCo database currently indicates that SMA Equities owned at least 19 commercial properties with 561 residential units in New York City with 585,696 square feet and a city-determined market value of $128.8 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 43 percent of the 585,696 square feet of built space are elevator properties, with D7 properties next occupying 19 percent of the space. The bulk, or 86 percent of the built space, is in Manhattan, with Queens next at 14 percent of the space.

Direct link to Acris document. link