Williamsburg mixed-use sells for $4M

An anonymous buyer through the entity 155 Grand LLC paid $4 million to Woon Ling Tse through the entity LLH Management Inc for the two-unit mixed-use building (S2) at 155 Grand Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on April 18, 2025 and was recorded on April 24, 2025. The property has 3,780 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,057 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 31, 2019, for $3.9 million. The signatory for Woon Ling Tse was Woon Ling Tse. The buyer entity was registered at the law firm Marans Newman Tsolis & Nazinitsky and the signatory was Catherine Lee. The contract date was March 10, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the a Marans Newman Tsolis & Nazinitsky registered buyer purchased one property in one transaction for a total of $5.8 million and has no record such an owner sold any properties over the past 24 months.
The seller Woon Ling Tse had not purchased any other properties and had not sold any properties over the same time period.

The property

The mixed-use building with 2 residential units in Williamsburg has 3,780 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 21 feet and is 74 feet deep with a total lot size of 1,554 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.1 million.

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 $50 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 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 4th highest sale turnover among other neighborhoods in the city with $2 billion in sales volume in the last two years. For development, Williamsburg has 2.7 times the average amount of major developments relative to other neighborhoods and is the 2nd highest in Brooklyn. It had 3.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 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 five of the 21 commercial properties representing 23,828 square feet of the 105,938 square feet. The largest owner is Manjula Mukhopadhyay, followed by Mordehy Haber and then Felix Shepeluk.
On the tax block, there was one new building construction project filed totaling 5,430 square feet. It is a 5,430 square-foot business (B) building submitted by Philip Miller with plans filed March 23, 2021 and permitted January 12, 2022.

The majority, or 51 percent of the 105,938 square feet of built space are mixed-use buildings, with walkup buildings next occupying 49 percent of the space.

The buyer

The PincusCo database currently indicates that Marans Newman Tsolis & Nazinitsky Registered owned at least two commercial properties with nine residential units in New York City with 9,840 square feet and a city-determined market value of $4.2 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 62 percent of the 9,840 square feet of built space are walkup properties, with mixed-use properties next occupying 38 percent of the space. The bulk, or 62 percent of the built space, is in Manhattan, with Brooklyn next at 38 percent of the space.

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