Abraham Podolsky, Yizhaq Sidaoui pays $6.3M for mixed-use in Sheepshead Bay

Abraham Podolsky and Yizhaq Sidaoui through the entity Highway 17 LLC paid $6.3 million to Georganne V. Jaffe and Alan M. Newman through the entity Famaly Realty LLC for the mixed-use building (K2) at 1702 Kings Highway in Sheepshead Bay, Brooklyn. The expected use is cash flowing.
The deal closed on November 20, 2025 and was recorded on December 2, 2025. The property has 21,009 square feet of built space and 10,114 square feet of additional air rights for a total buildable of 31,120 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $299 and the price per buildable square foot is $202 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 Georganne V. Jaffe and Alan M. Newman was Oded Ben-Ami . The signatory for Abraham Podolsky and Yizhaq Sidaoui was Abraham Podolsky and Yizhaq Sidaoui. The contract date was July 24, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Abraham Podolsky had purchased any other properties and sold two properties in one transaction for a total of $1.7 million over the past 24 months.
The seller Georganne V. Jaffe had not purchased any other properties and had not sold any properties over the same time period. The 21,009-square-foot property generated revenue of $706,533 or $34 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building in Sheepshead Bay has 21,009 square feet of built space and 10,114 square feet of additional air rights for a total buildable of 31,120 square feet according to a PincusCo analysis of city data. The parcel has frontage of 108 feet and is 98 feet deep with a total lot size of 7,780 square feet. The lot is irregular. The zoning is C4-4A which allows for up to 4 times floor area ratio (FAR) for commercial and up to 4 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $3 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 $1,185 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 Sheepshead Bay, The bulk, or 43 percent of the 26.6 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 17 percent of the space. In sales, Sheepshead Bay has 1.7 times the average sales volume among other neighborhoods with $493.6 million in sales volume in the last two years and is the 13th highest in Brooklyn. For development, Sheepshead Bay has had very little major development activity relative to other neighborhoods.It had 748,512 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the 14 commercial properties representing 111,000 square feet of the 277,039 square feet. The largest owner is Brg Management, followed by Norse Realty Group and then Coney Realty Group.
On the tax block, there was one new building construction project filed totaling 13,253 square feet. It is a 19-unit, 13,253 square-foot residential (R-2) building submitted by Asaf Haimoff with plans filed March 14, 2022 and permitted March 7, 2024.

The majority, or 32 percent of the 277,039 square feet of built space are elevator buildings, with walkup buildings next occupying 26 percent of the space.

The buyer

The PincusCo database currently indicates that Abraham Podolsky owned at least two commercial properties with nine residential units in New York City with 24,100 square feet and a city-determined market value of $6.5 million. (Market value is typically about 50% of actual value.) The portfolio has $5.2 million in debt, borrowed from Customers Bank. Within the portfolio, the bulk, or 62 percent of the 24,100 square feet of built space are mixed-use properties, with walkup properties next occupying 38 percent of the space. The bulk, or 62 percent of the built space, is in Brooklyn, with Manhattan next at 38 percent of the space.

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