Wing Kuen Tsoi pays $3.3M for dev site in Williamsburg

Wing Kuen Tsoi through the entity 264 N9 Developments LLC paid $3.3 million for the two-unit building (B9) at 264 North 9th Street in Williamsburg, Brooklyn. The expected use is ground up development.
The deal closed on March 4, 2025 and was recorded on March 10, 2025. The property has 1,500 square feet of built space and 6,000 square feet of additional air rights for a total buildable of 7,500 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $2,200 and the price per buildable square foot is $440 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 signatory for Wing Kuen Tsoi was Wing Kuen Tsoi. The contract date was November 6, 2024. The sellers included a number of signatories including Helen Gulczynski-Langone.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Wing Kuen Tsoi had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Helen Gulczynski-Langone had not purchased any other properties and had not sold any properties over the same time period.

The property

The 1-4 family building with 2 residential units in Williamsburg has 1,500 square feet of built space and 6,000 square feet of additional air rights for a total buildable of 7,500 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 M1-2/R6A which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 3 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.6 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 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 block

On this tax block, PincusCo has identified the owners of 11 of the 15 commercial properties representing 110,255 square feet of the 182,075 square feet. The largest owner is Isaac Schwartz, followed by Peak Capital Advisors .
On the tax block, there were three new building construction projects totaling 20,866 square feet. The largest is a 13-unit, 8,910 square-foot residential (R-2) building submitted by Donna Morawiec with plans filed December 11, 2017 and it has not been permitted yet. The second largest is a three-unit, 5,978 square-foot residential (R-2) building submitted by Thomas Finnican with plans filed March 18, 2022 and permitted February 14, 2025.

The majority, or 33 percent of the 182,075 square feet of built space are elevator buildings, with industrial buildings next occupying 30 percent of the space.

Direct link to Acris document. link