Yoel Gruber pays $12M for industrial in Sunset Park

Yoel Gruber through the entity BH 266 47th Street Realty LLC paid $12 million to Hindy Klein Sobel through the entity 47th Street Estates LLC for industrial (E1) property at 266 47th Street in Sunset Park, Brooklyn.
The deal closed on May 28, 2021 and was recorded on June 11, 2021.
The property has 25,500 square feet of built space and 0 square feet of additional air rights for a total buildable of 12,020 square feet according to PincusCo analysis of city data. The sale price per built square foot is $470 per the PincusCo analysis.
The owner bought the property on 13-Jun-16, for $5.5 million.
The signatory for Hindy Klein Sobel was Hindy Klein Sobel. The signatory for Yoel Gruber was Yoel Gruber.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $60,000.

Within a 400-foot radius of 266 47th Street, PincusCo identified three commercial real estate items of interests that occurred over the past 24 months.
Of those three items, one was a new building development. It was a new building permit application filed on May 6, 2020 for a 46,264-square-foot E building at 266 46th Street.
Of those three items, one was for major renovation including a certificate of occupancy change. It was a permit issued on November 25, 2020 for the $250,000 renovation of the 15,839-square-foot A-2 building at 229 46th Street.
One of those three items was a sale in which the New York City School Construction Authority bought the 4,900-square-foot, one-unit industrial (F5) building on 250 46th Street and four other properties for $5.6 million from Yuco Management on January 22, 2020.

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