St. Nicholas Alliance pays $6.2M for office building in East Williamsburg

St. Nicholas Alliance through the entity Williamsburg Court Housing Development Fund paid $6.2 million to RW Real Estate Group, Joseph Misk, and David Koptiev through the entity 263 Troy Ave LLC for office building (O9) at 819 Grand Street in East Williamsburg, Brooklyn.
The deal closed on November 16, 2021 and was recorded on December 13, 2021.
The property has 13,357 square feet of built space and 5,856 square feet of additional air rights for a total buildable of 19,200 square feet according to PincusCo analysis of city data. The sale price per built square foot is $463 and the price per buildable square foot is $322 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 22, 2016, for $5.9 million.
The signatory for RW Real Estate Group, Joseph Misk, and David Koptiev was Joseph Misk, Oren Sauberman, and David Koptiev. The signatory for St. Nicholas Alliance was Michael Rotchford.

Within a 400-foot radius of 819 Grand Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, two were loans above $5 million totaling $57.6 million. The most recent of the two was Nathan Halegua which borrowed $5.5 million from Signature Bank secured by the 20,203-square-foot, 16-unit rental (C7) on 811 Grand Street on February 18, 2021.

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