In the first, TF Cornerstone through the entity 2 Noble North LLC paid $144.1 million to Pearl Realty Management through the entity 57 West LLC for the vacant lot at 43 West Street in Greenpoint, Brooklyn. The expected use is ground development.
The signatory for Pearl Realty Management was Jack Guttman. The signatory for TF Cornerstone was Jeremy Shell. The contract date was July 1, 2024. The Real Deal first reported the sale noting the project could utilize 485x tax benefit to build residential apartments, and identified the brokers as David Junik, and Decio Baio of Pinnacle Realty of New York.
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