2902 Albemarle Road
East Flatbush, Brooklyn
Parcel ID (BBL): 3051310001
Owner: Madison Realty Capital
Acquired: October 22, 2025, $70 million
Debt: October 22, 2025, $25.2 million
Built: 2015
Renovated: 2014
SF: 86,099
Dwelling units: 93
No. of buildings: 1
Class: Fireproof – With Stores (D6)
Floors: 6
Legacy BBLs: 3051310001.00000000
HPD Ownership Registration Information
Last registered: 2025-11-12 (expires 2026-09-01)
Zachary Kadden
Head Officer
5804A TYNDALL AVENUE Bronx, NY, 10471
1580 Nostrand Ave Owner Llc
Corporate Owner
1580 NOSTRAND AVENUE Brooklyn, NY, 11226
Hsc Management Corp., Amo
Agent
5804A TYNDALL AVENUE Bronx, NY, 10471
Michael Smith
Site Manager
Transactions:
• Madison Realty Capital borrowed $25.2 million from Northeast Bank for N/A Nostrand Avenue and 1580 Nostrand Avenue, East Flatbush, Brooklyn on October 22, 2025.
• Hello Living sold N/A Nostrand Avenue and 1580 Nostrand Avenue, East Flatbush, Brooklyn for $70 million to Madison Realty Capital on October 22, 2025.
• Madison Realty Capital on May 03, 2024 bought a loan with an original principal of $71.3 million from 35 Oak Holdings, signed by Michael Wiener, secured by 1580 Nostrand Avenue, East Flatbush, Brooklyn, when owned by 35 Oak Holdings.
• Arch Companies on May 06, 2022 bought a loan with an original principal of $71.3 million from Madison Realty Capital, signed by Brian Shatz, secured by 1580 Nostrand Avenue, East Flatbush, Brooklyn, when owned by Hello Living.
• Hello Living borrowed $8.3 million from Madison Realty Capital for 1562 Nostrand Avenue, Flatbush, Brooklyn on October 14, 2020.
Development:
• Hello Living filed new building job 320916167 for 159,029 sqft R-2 building with 88 apartments in East Flatbush, Brooklyn, on July 17, 2014.
• Hello Living filed new building job 320916158 for 159,029 sqft R-2 building with 182 apartments in East Flatbush, Brooklyn, on July 17, 2014.
• Ronnie Cohen filed major alteration job 320698465 for 10,260 sqft M building in East Flatbush, Brooklyn, on January 18, 2013.
• Eli Karp filed alteration job B00424085 for 21 sqft building with 182 apartments in East Flatbush, Brooklyn, on November 11, 2020.
• Eli Karp filed alteration job 340694234 for R-2 building with 182 apartments in East Flatbush, Brooklyn, on August 26, 2019.
• Elkanoh Krausz filed alteration job B00063843 for building with 182 apartments in East Flatbush, Brooklyn, on July 23, 2018.
• Elkanoh Krausz filed alteration job B00063818 for building with 182 apartments in East Flatbush, Brooklyn, on July 20, 2018.
• Eli Karp filed alteration job 321724498 for R-2 building with 88 apartments in East Flatbush, Brooklyn, on March 23, 2018.
Litigation:
• Hello Living and Eli Karp on March 08, 2024, filed a $50 million bankruptcy 24-22192-shl for Nostrand Ave.
• Arch Companies filed a $69.2 million pre-foreclosure 524162/2022 on August 18, 2022, against Hello Living and Eli Karp at Nostrand Ave.
• Eli Karp, Hello Living and Hello Living Developer Nostrand LLC on December 21, 2021, filed a $69.2 million bankruptcy 21-22696 for Nostrand Ave.
Violations:
According to city public data, the properties have received 24 housing violations and $100 in OATH penalties in the last year.