Stuart Venner pays $4.2M to CWCapital for mixed-use in Boerum Hill in REO sale

Stuart Venner paid $4.2 million to CWCapital Asset Management for two adjacent mixed-use buildings in Boerum Hill, Brooklyn, in two real estate owned transactions.

In the first, Stuart Venner through the entity Trescenta 60, LLC paid $2.1 million to CWCapital Asset Management through the entity 358 & 360 Atlantic Avenue Holdings, LLC for the four-unit mixed-use building (S9) at 360 Atlantic Avenue in Boerum Hill, Brooklyn. The expected use is cash flowing.
The deal closed on February 11, 2026 and was recorded on February 12, 2026. The property has 3,248 square feet of built space and 4,309 square feet of additional air rights for a total buildable of 7,560 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $659 and the price per buildable square foot is $283 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 February 3, 2025, for $509,125.

In the second, Stuart Venner through the entity Ridge 89, LLC paid $2.1 million through a real estate owned to CWCapital Asset Management through the entity 358 & 360 Atlantic Avenue Holdings, LLC for the three-unit mixed-use building (S3) at 358 Atlantic Avenue in Boerum Hill, Brooklyn. The expected use is cash flowing.
The deal closed on February 11, 2026 and was recorded on February 12, 2026. The property has 3,520 square feet of built space and 1,760 square feet of additional air rights for a total buildable of 5,280 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $589 and the price per buildable square foot is $392 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 February 3, 2025, for $509,125.

The signatory for CWCapital Asset Management was Alex Killick . The signatory for Stuart Venner was Stuart Venner. The contract date was September 17, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Stuart Venner had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller CWCapital Asset Management purchased two properties in one transaction for a total of $3,310 and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Mohamed Mohamed, individual owner. The 3,248-square-foot property generated revenue of $144,926 or $45 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 4 residential units in Boerum Hill has 3,248 square feet of built space and 4,309 square feet of additional air rights for a total buildable of 7,560 square feet according to a PincusCo analysis of city data. The parcel has frontage of 28 feet and is 90 feet deep with a total lot size of 2,520 square feet. The lot is irregular. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The property is in the Boerum Hill Historic District Extension. The city-designated market value for the property in 2022 is $1.9 million.

Violations and lawsuits

The property was involved in zero lawsuits and one bankruptcy over the past two years. The bankruptcy was filed on August 14, 2024, by Mohamed B. Mohamed citing assets of $3.8 million. In addition, according to city public data, the property has received $700 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 neighborhood

In Boerum Hill, The bulk, or 32 percent of the 9 million square feet of commercial built space are elevator buildings, with mixed-use buildings next occupying 16 percent of the space. In sales, Boerum Hill has 2.2 times the average sales volume among other neighborhoods with $727.2 million in sales volume in the last two years and is the 9th highest in Brooklyn. For development, Boerum Hill has 1.6 times the average amount of major developments relative to other neighborhoods and is the 6th highest in Brooklyn. It had 2.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 27 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of 12 of the 32 commercial properties representing 77,256 square feet of the 144,277 square feet. The largest owner is Mohamed B. Mohamed, followed by Stuart Venner and then Brian Elgart.
There are no active new building construction projects on this tax block.

The majority, or 56 percent of the 144,277 square feet of built space are mixed-use buildings, with walkup buildings next occupying 30 percent of the space.

The seller

The PincusCo database currently indicates that Cwcapital Asset Management owned at least two commercial properties with 18 residential units in New York City with 19,780 square feet and a city-determined market value of $3.6 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Manhattan.

The buyer

The PincusCo database currently indicates that Stuart Venner owned at least eight commercial properties with 85 residential units in New York City with 72,867 square feet and a city-determined market value of $20.6 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 95 percent of the 72,867 square feet of built space are walkup properties, with mixed-use properties next occupying 5 percent of the space. They are all located in Brooklyn.

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