Wilbee Corporation pays $5.5M to RYCO for 7-unit walkup in South Slope

Wilbee Corporation through the entity WCM III LLC paid $5.5 million to RYCO Capital through the entity Keystone 1021 Eighth Avenue LLC for the seven-unit residential walkup building (C7) at 1021 8th Avenue in South Slope, Brooklyn. The expected use is cash flowing.
The deal closed on January 30, 2026 and was recorded on February 12, 2026. The property has 7,300 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $746 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 October 15, 2020, for $4.2 million. The signatory for RYCO Capital was James Ryan . The signatory for Wilbee Corporation was Maxwell Kaestner . The contract date was December 17, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Wilbee Corporation purchased one property in one transaction for a total of $5.8 million and sold one property in one transaction for a total of $17.7 million over the past 24 months.
The seller RYCO Capital purchased 10 properties in eight transactions for a total of $142.2 million and sold seven properties in six transactions for a total of $70.8 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Shane Rajcooar, head officer and Gustavo Ruiz, site manager. The business entity is Keystone 1021 Eighth Avenue Llc.

The property

The residential walkup building with 7 residential units in South Slope has 7,300 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 23 feet and is 89 feet deep with a total lot size of 2,055 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The property is in the Park Slope Historic District Extension. The city-designated market value for the property in 2022 is $2.4 million. The property has 3 rent regulated units according to city tax records from 2024.

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 received one housing violation and $600 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 block

On this tax block, PincusCo has identified the owners of four of the five commercial properties representing 33,536 square feet of the 36,146 square feet. The largest owner is Alchemy Ventures, followed by Greenbrook Partners and then Donna Cosares.
There are no active new building construction projects on this tax block.

All properties are walkup.

The seller

The PincusCo database currently indicates that RYCO Capital owned at least 20 commercial properties with 275 residential units in New York City with 267,417 square feet and a city-determined market value of $140.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 49 percent of the 267,417 square feet of built space are walkup properties, with mixed-use properties next occupying 26 percent of the space. The bulk, or 96 percent of the built space, is in Manhattan, with Brooklyn next at 4 percent of the space.

The buyer

The PincusCo database currently indicates that Wilbee Corporation owned at least one commercial property with five residential units in New York City with 4,449 square feet and a city-determined market value of $2.1 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Brooklyn.

Direct link to Acris document. link