David Werner signs contract to buy 74-building portfolio from All Year Management for reported $344M

David Werner through the entity DW Brooklyn 75 LLC and others signed a contract with Yoel Goldman’s All Year Management to buy 75 tax lots in 74 Brooklyn buildings for a reported $344 million. The properties include 607 Franklin Avenue, 13575 St Nicholas Avenue, 65 Kent Avenue, 1323 Bedford Avenue, 916 Madison Street, and others. The memorandum of contract was signed on March 5, 2020, and was recorded on March 31, 2020. The transaction consists of 75 parcels, and more than 600 residential units. The parcels including built space and excess development rights span 567,315 square feet, according to a PincusCo analysis of city records.

The filing, dated March 5, is a memorandum of contract, and does not provide a purchase price or a closing date.

The Real Deal reported the sale price to be $344 million, but did not name a buyer, and the article said Henry Bodek of Galaxy Capital was the broker.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $74,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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