Cho family pays $7M to Peak Capital Advisors for 5-unit walkup in Park Slope

Soobok Cho and Kum Hwie Cho through the entity Hill Plaza LLC paid $7 million to Peak Capital Advisors through the entity 507 Owner LLC for the five-unit residential walkup building (C2) at 507 8th Avenue in Park Slope, Brooklyn. The expected use is cash flowing.
The deal closed on January 16, 2026 and was recorded on January 27, 2026. The property has 5,952 square feet of built space and 517 square feet of additional air rights for a total buildable of 6,471 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,176 and the price per buildable square foot is $1,081 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on December 28, 2021, for $3.9 million. The signatory for Peak Capital Advisors was Alex Rabin and David Gomez . The signatory for Soobok Cho and Kum Hwie Cho was Soobok Cho and Kum Hwie Cho. The contract date was October 30, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Soobok Cho had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Peak Capital Advisors purchased 19 properties in 13 transactions for a total of $124.9 million and sold four properties in three transactions for a total of $48.3 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Alex Kaskel, head officer and Mark Levine, officer. The business entities are Apex Management Group and 507 Owner Llc.

The property

The residential walkup building with 5 residential units in Park Slope has 5,952 square feet of built space and 517 square feet of additional air rights for a total buildable of 6,471 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 107 feet deep with a total lot size of 2,157 square feet. The zoning is R7B which allows for up to 3 times floor area ratio (FAR) for residential. The property is in the Park Slope Historic District. The city-designated market value for the property in 2022 is $3.2 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $300 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of six of the 14 commercial properties representing 52,736 square feet of the 112,167 square feet. The largest owner is Nicholas Kotsonis, followed by Joseph Berman and then Gloria Farran.
There are no active new building construction projects on this tax block.

The majority, or 90 percent of the 112,167 square feet of built space are walkup buildings, with specialty buildings next occupying 5 percent of the space.

The seller

The PincusCo database currently indicates that Peak Capital Advisors owned at least 64 commercial properties with 638 residential units in New York City with 539,412 square feet and a city-determined market value of $163.8 million. (Market value is typically about 50% of actual value.) The portfolio has $216.1 million in debt, with top three lenders as Derby Copeland Capital, Argentic Investment Management, and Starwood Capital Group respectively. Within the portfolio, the bulk, or 82 percent of the 539,412 square feet of built space are walkup properties, with mixed-use properties next occupying 12 percent of the space. The bulk, or 39 percent of the built space, is in Manhattan, with Brooklyn next at 34 percent of the space.

The buyer

The PincusCo database currently indicates that Kum Hwie Cho owned at least two commercial properties with six residential units in New York City with 7,169 square feet and a city-determined market value of $5.9 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 55 percent of the 7,169 square feet of built space are mixed-use properties, with C0 properties next occupying 45 percent of the space. They are all located in Brooklyn.

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