Yoel Hershkowitch pays $2.9M for 9-unit walkup in Bed Stuy

Yoel Hershkowitch through the entity HB Throop LLC paid $2.9 million to Malky Rosenberg through the entity 168 Troop LLC for the nine-unit residential walkup building (C1) at 168 Throop Avenue in Bed Stuy, Brooklyn.
The deal closed on June 22, 2022 and was recorded on July 22, 2022. The property has 7,500 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $386 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 March 21, 2012, for $265,000.

Prior sales and revenue

The former owners according to the Department of Housing Preservation and Development includes Malky Rosenberg, head officer and Leah Gross, officer. The business entity is 168 Troop Llc.

The property

The 168 Throop Avenue parcel has frontage of 25 feet and is 80 feet deep with a total lot size of 2,000 square feet. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $944,500.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property since September of 2020. In addition, according to city public data, the property has received one DOB violation in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on August 17, 2016. There are no active new building construction projects or major alteration projects with initial costs more than $5 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of six of the eight commercial properties representing 163,875 square feet of the 171,375 square feet. The largest owner is City of New York, followed by Joel Mizrahi and then Malky Rosenberg.
There are no active new building construction projects on this tax block.

The majority, or 70 percent of the 171,375 square feet of built space are specialty buildings, with walkup buildings next occupying 23 percent of the space.

Surrounding

Within a 400-foot radius of 168 Throop Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was in new building development. It was a new building permit issued on August 6, 2021 for a 44,503-square-foot R-2 building with 33 residential units at 180 Throop Avenue.
One of those two items was a loan which Mendel Fleischman borrowed $6.7 million from IceCap Group secured by the 6,500-square-foot, eight-unit rental (C1) on 179 Hopkins Street and two other properties on January 14, 2022.

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