{"id":208171,"date":"2026-04-24T08:54:16","date_gmt":"2026-04-24T08:54:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/208171\/"},"modified":"2026-04-24T08:54:16","modified_gmt":"2026-04-24T08:54:16","slug":"g4-capital-takes-over-site-of-williamsburg-trader-joes-for-65m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/208171\/","title":{"rendered":"G4 Capital Takes Over Site of Williamsburg Trader Joe\u2019s for $65M \u2013 Commercial Observer"},"content":{"rendered":"

The site of a Trader Joe\u2019s in Williamsburg, Brooklyn, has been handed over to its lender for $65 million following a planned foreclosure auction, according to city records<\/a> made public Thursday.<\/p>\n

Isaac Hager\u2019s Cornell Realty Management<\/a> and local developer Yitzchak Tessler, using the entity 206 Kent, handed off the five-story office and retail building at 206 Kent Avenue \u2014 also known as 200-206 Kent Avenue \u2014 to New York-based investment firm and previous lender G4 Capital Partners<\/a>, which used the entity 200 Kent, records show.<\/p>\n

SEE ALSO: Knighthead Lends $40M on Student Housing Near Indiana Football Stadium<\/a><\/p>\n

Tessler himself signed the deal for the seller, while Jason Behfarin, a co-founder and co-managing partner at G4 Capital, signed for the buyer, according to records.<\/p>\n

A spokesperson for G4 Capital did not immediately respond to a request for comment, while Tessler could not be reached for comment.\u00a0<\/p>\n

Developed by Cornell Realty and LIVWRK<\/a> in 2020, the building between Metropolitan Avenue and North Third Street includes office space on the upper floors and a TJ\u2019s in the ground-floor and basement retail space.<\/p>\n

The property previously traded for $33 million in August 2016 to Cornell Realty, before Tessler partnered with Hager and acquired control of the building in 2020 for an undisclosed amount, records show<\/a>.<\/p>\n

G4 Capital was previously a lender on the property, providing Hager and Tessler with $84.25 million in financing for the project in 2020, The Real Deal reported at the time<\/a>. When ownership defaulted on the loan, G4 Capital initiated UCC foreclosure proceedings<\/a> to seize the property in 2023, claiming the debt had grown to $140.5 million, according to TRD.<\/p>\n

Greg Corbin, president and founder of Northgate Real Estate Group<\/a>, was leading the marketing for the UCC foreclosure at the time. Corbin could not be reached for comment.<\/p>\n

News of the building changing hands to G4 Capital comes after Cornell Realty submitted a zoning application in October 2025 to partially convert and expand the existing 200-206 Kent Avenue into a 14-story residential and retail building with up to 143 apartments. (But don\u2019t worry, TJ\u2019s shoppers. The beloved grocery store wasn\u2019t planned to go anywhere<\/a>.)<\/p>\n

It\u2019s unclear if those plans will continue under G4 Capital\u2019s new ownership.\u00a0<\/p>\n

It\u2019s also been a busy week of deals for G4 Capital, which sold the 10-story office building at 74 Eighth Avenue \u2014 also known as 74-76 Eighth Avenue \u2014 in Manhattan\u2019s West Village to Spear Street Capital on Monday for $50.5 million, CO reported<\/a>.<\/p>\n

Isabelle Durso can be reached at idurso@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"The site of a Trader Joe\u2019s in Williamsburg, Brooklyn, has been handed over to its lender for $65…\n","protected":false},"author":2,"featured_media":208172,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[82533,82534,5020,98,100,99,3624,82532,82535,28415,80667,9,24,63,82536],"class_list":{"0":"post-208171","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-brooklyn","8":"tag-200-206-kent-avenue","9":"tag-206-kent-avenue","10":"tag-acquisition","11":"tag-brooklyn","12":"tag-brooklyn-headlines","13":"tag-brooklyn-news","14":"tag-channel","15":"tag-finance-200-kent-avenue","16":"tag-greg-corbin","17":"tag-isaac-hager","18":"tag-jason-behfarin","19":"tag-new-york","20":"tag-new-york-city","21":"tag-nyc","22":"tag-yitzchak-tessler"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/208171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=208171"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/208171\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/208172"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=208171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=208171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=208171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}