Acquisition · Greenpoint
514-516 Graham Avenue trades for $9.15M
Newton Development LLC bought the Greenpoint corner lot near McCarren Park, where a 13-unit condominium with an elevator, laundry service and wheelchair access is planned, with completion expected by spring 2029.
- Amount
- $9.15M
- Type
- Acquisition
- Date
- Jul. 2026
514-516 Graham Avenue, Brooklyn, NY
Recorded in NYC property records.
- Seller
- Graham Ave Realty Holding LLC
- Buyer
- Newton Development LLC
- Lender
- Genesis Capital, LLC
- Alpha Properties NYC's own development page confirms the site as a 13-unit condominium project on a corner lot near McCarren Park.
- The firm describes acquiring the site below market value, targeting an investment return (IRR) above 18%, with completion expected by spring 2029.
- Planned building amenities include an elevator, laundry, and wheelchair access.
- The accompanying construction/bridge loan came from Genesis Capital, LLC, recorded the same day as the deed.
Overview
On July 9, 2026, Newton Development LLC paid $9.15 million to Graham Ave Realty Holding LLC for 514-516 Graham Avenue in Greenpoint, per the ACRIS deed. A same-event $5 million document is likely an accompanying construction or bridge loan from Genesis Capital, LLC. A real-estate deal-tracking social media account separately identified Eliran Cohen as connected to the buyer entity -- a detail not independently confirmed by any published source reviewed here.
Alpha Properties NYC's own development page for the site confirms the project as a 13-unit condominium on a corner lot near McCarren Park. The firm describes acquiring the site below market value and targeting an investment return (IRR) above 18%, with completion expected by spring 2029. Planned building amenities include an elevator, laundry service, and wheelchair access.
Not currently in Hush Street's Greenpoint registry.
A confirmed, actively marketed 13-unit condominium project near McCarren Park, with the developer's own site -- not just a permit filing -- already describing unit count, amenities, and a targeted completion date.
Parties Involved 3 recorded
Basis
Named as grantor on the ACRIS DEED document.
Basis
Named as grantee on the ACRIS DEED document.
Basis
Named on the same-day ACRIS financing document, likely the construction/bridge loan accompanying the acquisition.
Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.
Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.
Property & Project
Sources & Recordsverification, citations & data notes
- ACRIS Document Detail -- deed, $9,150,000 — NYC ACRIS
- 514-516 Graham Avenue -- development page — Alpha Properties NYC