Abdul Salem Mused pays $8M for industrial in Brownsville

Abdul Salem Mused through the entity 738 Chester LLC paid $8 million through a bankruptcy process to through the entity Royal Development, Inc. for the industrial building (F5) at 723 Bristol Street in Brownsville, Brooklyn. The prior owner was Vladimir Furleiter.
The deal closed on August 1, 2025 and was recorded on September 10, 2025. The property has 45,740 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $175 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 signatory for Vladimir Furleiter was Alla Kachan . The signatory for Abdul Salem Mused was Abdul Salem Mused. The contract date was May 2, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Abdul Salem Mused had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Vladimir Furleiter had not purchased any other properties and had not sold any properties over the same time period. The 45,740-square-foot property generated revenue of $639,445 or $14 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Brownsville has 45,740 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 248 feet and is 68 feet deep with a total lot size of 38,410 square feet. The lot is irregular. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $2.5 million. Hirshmark Capital on November 24, 2021 bought a loan with an original principal of from signed by Alla Kachan, secured by 723 Bristol Street, when owned by Vladimir Furleiter.

Violations and lawsuits

The property was involved in one lawsuit and one bankruptcy over the past two years. The suit was a $5.5 million commercial foreclosure concerning a loan filed on December 8, 2023, by Hirshmark Capital against Vladimir Furleiter. The bankruptcy was filed on April 19, 2024, by Vladimir Furleiter citing assets of $5.5 million. In addition, according to city public data, the property has received $1,000 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 neighborhood

In Brownsville, The bulk, or 46 percent of the 28.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 21 percent of the space. In sales, Brownsville has had very little sales volume relative to other neighborhoods with $153.5 million in sales volume in the last two years. For development, Brownsville has 1.3 times the average amount of major developments relative to other neighborhoods and is the 9th highest in Brooklyn. It had 1.8 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the five commercial properties representing 45,740 square feet of the 89,340 square feet. The identified owner is Vladimir Furleiter.
There are no active new building construction projects on this tax block.

The majority, or 73 percent of the 89,340 square feet of built space are industrial buildings, with specialty buildings next occupying 27 percent of the space.

The seller

The PincusCo database currently indicates that Vladimir Furleiter owned at least one commercial property in New York City with 45,740 square feet and a city-determined market value of $2.4 million. (Market value is typically about 50% of actual value.) The portfolio has $5.5 million in debt, borrowed from Hirshmark Capital. The portfolio consists of at least a single industrial property. It is located in Brooklyn.

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