Abraham Samuel pays $7.2M for commercial condo in Williamsburg

Abraham Samuel through the entity Ohr Hatzlucha LLC paid $7.2 million to Spencer Equity Group and Rabsky Group through the entity Harrison Plaza LLC for the property at 342 Wallabout Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on March 25, 2026 and was recorded on March 31, 2026.
The signatory for Spencer Equity Group and Rabsky Group was Rebecca Scheiner . The signatory for Abraham Samuel was Abraham C. Samuel . The contract date was July 28, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Abraham Samuel had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Spencer Equity Group purchased nine properties in three transactions for a total of $89 million and sold four properties in three transactions for a total of $126 million over the same time period.

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 not received any significant violations 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 seller

The PincusCo database currently indicates that Rabsky Group owned at least 47 commercial properties with 4,605 residential units in New York City with 2,241,343 square feet and a city-determined market value of $348 million. (Market value is typically about 50% of actual value.) The portfolio has $2.9 billion in debt, with top three lenders as Madison Realty Capital, Bank Leumi, and Apollo Global Management respectively. Within the portfolio, the bulk, or 81 percent of the 2,241,343 square feet of built space are elevator properties, with industrial properties next occupying 7 percent of the space. The bulk, or 79 percent of the built space, is in Brooklyn, with Queens next at 18 percent of the space.
The PincusCo database currently indicates that Spencer Equity Group owned at least 22 commercial properties with 898 residential units in New York City with 788,577 square feet and a city-determined market value of $121.7 million. (Market value is typically about 50% of actual value.) The portfolio has $247.6 million in debt, with top three lenders as Signature Bank, Sterling National Bank, and Webster Bank respectively. Within the portfolio, the bulk, or 65 percent of the 788,577 square feet of built space are elevator properties, with walkup properties next occupying 21 percent of the space. The bulk, or 71 percent of the built space, is in Brooklyn, with Bronx next at 19 percent of the space.

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