United American Land pays $23.2M to Sisters of St. Joseph for property in Downtown Brooklyn

The Laboz family’s United American Land through the entity 80 Willoughby LLC paid Sisters of St. Joseph $23.2 million for 80 Willoughby Street in Brooklyn Heights. The deal closed on February 25, 2021 and was recorded on March 5, 2021. The transaction consists of 1 parcel, including the tax class parochial schools, yeshivas (W2). The property is 60,500 square feet.
The average sale price per square foot is $384. The signatory for the buyer was Albert Laboz.

This is for the fee at 80 Willoughby Street, at the corner of Bridge Street. The Sisters also transferred the air rights to UAL. The charter school Brooklyn Prospect Charter School has a lease for the space, which was amended February 17, 2021. Simultaneously with the sale, UAL borrowed $25.25 million in new debt from Sterling National Bank. The contract date was September 15, 2020. The Sisters have owned the parcel since 1945.

The Sisters of St. Joseph sold parcels in Park Slope to Greenbrook Partners for $8 million, PincusCo reported.
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. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $200.

Direct link to Acris document. link