Thomas Leung pays $6.1M to Double U Realty for 8-unit rental in Williamsburg

Thomas Leung through the entity Golden Cedar Realty LLC paid $6.1 million to Double U Realty through the entity 96 S 9 LLC for the eight-unit residential building at 96 South 9th Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on October 17, 2025 and was recorded on October 24, 2025. The property has 3,375 square feet of built space and 2,700 square feet of additional air rights for a total buildable of 6,075 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,807 and the price per buildable square foot is $1,004 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 with two other tax lots on July 25, 2022, for a total of $14.1 million The signatory for Double U Realty was Michael Weitzman . The contract date was August 7, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Thomas Leung had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Double U Realty purchased two properties in two transactions for a total of $11.4 million and sold three properties in two transactions for a total of $70.2 million over the same time period.

The property

The specialty building in Williamsburg has 3,375 square feet of built space and 2,700 square feet of additional air rights for a total buildable of 6,075 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $215,000.

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

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 Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 5th highest sale turnover among other neighborhoods in the city with $1.9 billion in sales volume in the last two years. For development, Williamsburg is the most active neighborhood among other neighborhoods. It had 41.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other specialty buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of one of the two commercial properties representing zero square feet of the 30,290 square feet. The identified owner is Sucher Ashkenazi.
There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 30,290 square feet of built space are walkup buildings, with development buildings next occupying 0 percent of the space.

The seller

The PincusCo database currently indicates that Double U Realty owned at least eight commercial properties with 59 residential units in New York City with 90,978 square feet and a city-determined market value of $19.1 million. (Market value is typically about 50% of actual value.) The portfolio has $174.3 million in debt, with top three lenders as Lorimer Capital, Citibank, and S3 Capital respectively. Within the portfolio, the bulk, or 66 percent of the 90,978 square feet of built space are mixed-use properties, with retail properties next occupying 18 percent of the space. They are all located in Brooklyn.

The buyer

The PincusCo database currently indicates that Thomas Leung owned at least one commercial property with 20 residential units in New York City with 16,901 square feet and a city-determined market value of $4.2 million. (Market value is typically about 50% of actual value.) The portfolio has $6 million in debt, borrowed from CTBC Bank. The portfolio consists of at least a single walkup property. It is located in Manhattan.

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