Solomon Chami pays $2.9M to Davis Management for 8-unit walkup in Greenwood Heights

Solomon Chami through the entity Sc 207 18th Street LLC paid $2.9 million to Davis Management Associates through the entity 207 18th Street Associates LLC for the eight-unit residential walkup building (C1) at 207 18th Street in Greenwood Heights, Brooklyn. The expected use is cash flowing.
The deal closed on April 23, 2025 and was recorded on May 2, 2025. The property has 9,100 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $318 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 December 7, 2015, for $3.4 million. The signatory for Davis Management Associates was Jordan Davis . The signatory for Solomon Chami was Solomon Chami. The contract date was December 19, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Solomon Chami had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Davis Management Associates 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 Jordan Davis, head officer and Mirza Nurkovic, site manager. The business entity is 207 18th St Associates Llc.

The property

The residential walkup building with 8 residential units in Greenwood Heights has 9,100 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 35 feet and is 100 feet deep with a total lot size of 3,506 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 $2.2 million. The property has 4 rent regulated units according to city tax records from 2023.

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 eight housing 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 block

On this tax block, PincusCo has identified the owners of two of the 10 commercial properties representing 7,974 square feet of the 43,977 square feet. The two identified owners are Nagi M. Yahia and Ravindra Kumar.
There are no active new building construction projects on this tax block.

The majority, or 50 percent of the 43,977 square feet of built space are walkup buildings, with mixed-use buildings next occupying 50 percent of the space.

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