Stake in Jeff Sutton’s Williamsburg parcel trades, valuing it at $31.3M

An affiliate of Jeff Sutton through the entity 166 Berry Owner LLC paid an affiliate of Jeff Sutton’s 166 Berry Street LLC for a stake in 103 North 4th Street in Williamsburg, valued at $31.3 million. The deal closed on March 4, 2021 and was recorded on March 12, 2021. The transaction consists of 1 parcel, including the tax class light manufacturing building (F5)The property is 6,200 square feet. The parcel(s) have total development potential of 6,200 square feet.
The average sale price per square foot is $5,048.

This transfer represents the sale of at least a 50 percent interest in the asset from one Sutton-managed entity to another. Sutton bought this parcel for $20 million in November 2019.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $790,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $54,500.

Direct link to Acris document. link
The signatory for the buyer or lender was Jeff Sutton