Wyckoff Street Developments pays $2.9M for 3-family in Clinton Hill

Alexander Hall’s Wyckoff Street Developments through the entity Wyckoff Street Developments LLC paid $2.9 million for the three-unit building (C0) at 67 Lefferts Place in Clinton Hill, Brooklyn.
The deal closed on November 20, 2024 and was recorded on December 6, 2024. The property has 4,008 square feet of built space and 2,156 square feet of additional air rights for a total buildable of 6,160 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $720 and the price per buildable square foot is $468 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 Lance B. Harris was Lance B. Harris. The signatory for Wyckoff Street Developments was Alexander Hall. The contract date was July 30, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Wyckoff Street Developments had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Lance B. Harris 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 3 residential units in Clinton Hill has 4,008 square feet of built space and 2,156 square feet of additional air rights for a total buildable of 6,160 square feet according to a PincusCo analysis of city data. The parcel has frontage of 22 feet and is 140 feet deep with a total lot size of 3,080 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 $2.9 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 10 of the 23 commercial properties representing 129,105 square feet of the 219,702 square feet. The largest owner is Kd Sagamore Capital, followed by Cheskel Schwimmer and then Aperture Holdings.
On the tax block, there were two new building construction projects totaling 121,944 square feet. The largest is a 112-unit, 113,816 square-foot residential (R-2) building submitted by Ranger Properties and filed by Sheldon Stein with plans filed August 31, 2018 and permitted February 2, 2022. The second largest is a eight-unit, 8,128 square-foot residential (R-2) building submitted by Mike Shamash with plans filed May 17, 2016 and permitted July 31, 2020.

The majority, or 47 percent of the 219,702 square feet of built space are elevator buildings, with walkup buildings next occupying 28 percent of the space.

Direct link to Acris document. link