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New York

Menachem Stark’s partner Israel Perlmutter buys East W’burg rental for $27.5M

BSA rejected the former owner’s bid to convert the warehouse into apartments

9 White Street in Williamsburg
9 White Street in Williamsburg

Israel Perlmutter, a Brooklyn landlord who was a frequent partner of Menachem Stark, has purchased a 63-unit rental building at 9 White Street in East Williamsburg for $27.5 million.

Although the 63,000-square foot building has been subdivided into loft-style apartments, the property is still classified as commercial and is zoned for manufacturing. The Board of Standards and Appeals rejected a prior proposal from the former owner to legally convert the warehouse into apartments, city records show.

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Bracha Volchik’s B.Z.V Enterprise Corp bought the building in 1997 for an undisclosed sum and used Perlmutter’s Garden Management to operate the building. Rents at the building in June were $2,200 for a one-bedroom apartment according to StreetEasy.

Perlmutter, through Garden Management, once owned more than 1,000 rental units across Greenpoint and Williamsburg. Most of the units were co-owned with Stark, who was murdered in January 2014. The murder trial over Stark’s death is ongoing.

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Menachem Stark