Commercial Sales in Brooklyn
4TH AVENUE, GOWANUS SIDE $4,050,000 (left) 438 4th Avenue, 202 8th Street GMAP The sale of two of the properties Massey Knakal has bundled together as a residential development site were recorded in city records. The owner also controls a third adjoining parcel Massey is marketing for him, along with plans for a 12-story residential…
4TH AVENUE, GOWANUS SIDE $4,050,000 (left)
438 4th Avenue, 202 8th Street GMAP
The sale of two of the properties Massey Knakal has bundled together as a residential development site were recorded in city records. The owner also controls a third adjoining parcel Massey is marketing for him, along with plans for a 12-story residential development.
WILLIAMSBURG $4,000,000 (right)
180 Borinquen Place GMAP
The insatiable Dermot Company buys another Brooklyn rental building, this time not in Fort Greene or Clinton Hill. According to PropShark, this is one’s got 30 units and appears to be another rent-stabilized acquisition for the firm.
Photo of 180 Borinquen from Property Shark.
nope. lucky seven is still alive. con ed cut their power and they were gone for a couple weeks. but now they’re back. WITH A GENERATOR.
It looks like Dermot pushed the litigation through on Lucky 7 – they have been closed for two weeks.
dermot picked up 145 borinquen place from treetop, who gave up the place after renovating it (i think it was one of their only rental properties anyway).
145 borinquen (the “triangulum”) is essentially a lemon. treetop did a nice renovation job, but “lucky seven,” the restaurant/nightclub downstairs is a total blight on the neighborhood and treetop gave up after they apparently couldn’t litigate the place to death. the first four floors of the building are essentially unlivable, as they become encased in the inescapable sounds of reggaeton blasted from lucky seven from 12-5am, at least 3 nights a week. the second floor apartments in particular have turned over no less than 3 times since treetop opened the renovated units last june. unless dermot can successfully litigate lucky seven out of there (according to treetop they never paid their rent, and apparently stole their electricity, so i suppose it’s a matter of time), dermot won’t have much success marketing this as a luxury development.
dermot are a bunch of slumlords
if you read the post, the public records only covered two of the three lots that are part of the development. the largest of the three lots did not hit the public records yet. anyways, according to massay, the listing was put up while the guy had it in contract so this is just showing what he closed on part of the property for. looks like they started construction anyways so its a moot point.
Well Dermot have got their work cut out.
I doubt the cuyrrent rent roll even pays the super’s salary!
Listed at $9.75 million.
Sold for $4.05 million.
Walks like a pricechop.
Quacks like a pricechop.
why should dermot be different than anyone else?
Dermot will harass and screw with the tenants, take them to court on frivolous charges, and intimidate them to leave, so the new owners can goto market rate and turn huge profits. It’s typical – spend a few years kicking people out, invest lots of money in legal fees, then make ridiculous profits after that initial investment.