St. Ann’s School pays $16M to Jonathan Rose for building in Brooklyn Heights

St. Ann’s School paid $16 million to Jonathan Rose Companies through the entity 181 Montague, LLC for the property at 140-142 Pierrepont Street in Brooklyn Heights, Brooklyn. The expected use is owner-occupied.
The deal closed on April 30, 2025 and was recorded on May 8, 2025. The property has 21,292 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $749 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 Jonathan Rose Companies was Jonathan Rose . The signatory for St. Ann’s School was Kenyatte Reid. The contract date was July 6, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer St. Ann’s School had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Jonathan Rose Companies had not purchased any other properties and sold 11 properties in two transactions for a total of $77.9 million over the same time period.

The property

The property in Brooklyn Heights has 21,292 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 21,292 square feet. The city-designated market value for the property in 2022 is $5.7 million. The most recent loan totaled $11.4 million and was provided by Valley National Bank on August 30, 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 not received any significant violations in the last year.

Development

On the lot, there is one active major alteration construction project, B00974982, for a 5,000 square-foot 57 building. The project was submitted by Tom Sadlowski with plans filed February 22, 2024 and permitted December 4, 2024.

The block

On this tax block, PincusCo has identified the owners of four of the four commercial properties representing 330,866 square feet of the 330,866 square feet. The largest owner is Jonathan Rose Companies, followed by Landau Properties and then Sol Goldman Investments.
On the tax block, there were three new building construction projects totaling 958,488 square feet. The largest is a 136-unit, 411,847 square-foot residential (R-2) building submitted by Landau Properties and filed by Jonathan Landau with plans filed March 18, 2024 and it has not been permitted yet. The second largest is a 136-unit, 411,847 square-foot residential (R-2) building submitted by Landau Properties and filed by Jonathan Landau with plans filed March 18, 2024 and it has not been permitted yet.

The majority, or 50 percent of the 330,866 square feet of built space are elevator buildings, with office buildings next occupying 41 percent of the space.

The seller

The PincusCo database currently indicates that Jonathan Rose Companies owned at least six commercial properties with 670 residential units in New York City with 741,773 square feet and a city-determined market value of $112.6 million. (Market value is typically about 50% of actual value.) The portfolio has $239.7 million in debt, with top three lenders as Athene Holding, Hunt Real Estate Capital, and Merchants Capital respectively. Within the portfolio, the bulk, or 93 percent of the 741,773 square feet of built space are elevator properties, with retail properties next occupying 4 percent of the space. The bulk, or 29 percent of the built space, is in Brooklyn, with Manhattan next at 28 percent of the space.

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