Bay Ridge buyer files 9-unit plan 31 days after $3.1M deed

10005 4th Avenue LLC bought a one-story commercial building in Bay Ridge for $3.1 million on Aug. 25 and filed with the Department of Buildings 31 days later to turn it into a nine-apartment, six-story building, according to city property and permit records.

Why it matters

This is a compressed land-to-plans timeline. The deed is dated Aug. 25 and was recorded Sept. 4. DOB NOW job B01439309-I1 was filed Sept. 25, 21 days after the deed hit the record.

The filing is also not what a deed-then-new-building headline suggests. It is an ALT-CO job, a new building with existing elements to remain, on a lot the city lists as a 1932 one-story store building of about 5,100 square feet. The filing shows zero existing dwelling units, nine proposed, and no full demolition. The proposed six stories sit on a lot zoned R6A.

The seller held on for a long time. Snuggles Realty Corp. took title from Black Goat Inc. in a deed dated Aug. 4, 1993, about 33 years before this sale. The old mortgage from that era, held by Green Point Savings Bank and later Capital One, was satisfied on a document dated July 22, 2026, a month before closing.

The buyer financed on day one. A $2,000,000 mortgage and a matching assignment of leases and rents to Five Rivers Bank carry the same Aug. 25 date, covering about 65 percent of the price.

The numbers

• Price: $3,100,000, or about $344,000 per proposed apartment.
• Timeline: 31 days from deed date to DOB filing.
• Debt: $2,000,000 from Five Rivers Bank, dated the same day as the deed.
• Construction: $1,512,900 initial cost on 15,129 square feet, or about $100 a square foot, as stated on the filing.
• Applicant: Paul Lombardi, a registered architect, with Design Studio Associates as the filing representative.

Who is behind the buyer is only partly visible. The LLC’s address on the deed is 7909 10th Avenue in Brooklyn, and its address on the mortgage is in Staten Island. The DOB filing lists Jonico Construction as the owner’s business and Tracy McCormick as the owner contact. We have not confirmed how either relates to 10005 4th Avenue LLC, and the deed signatory is not in the open data. The DOB record also uses 10007 4th Avenue while ACRIS indexes the same lot under 10005. Both resolve to block 6138, lot 9.

What’s next

The job status was Plan Examiner Review as of Sept. 28, and two further filings on the same job were approved Oct. 2. Watch for a permit issuance, which would show whether the nine-unit plan moves to construction. See more deal records on our New York market page.