Abraham Waldman pays $30M to Segbro, others, for 75-unit dev site in Brooklyn Heights

Abraham Waldman of Rogers Equities through the entity Atlantic Court NY LLC paid $30 million to Maurice Setton, Segbro Companies, and Jeffrey Sorkin through the entity Fs Court LLC (and others) for the retail building (K2) at 120 Court Street in Brooklyn Heights, Brooklyn. The expected use is ground up development.

For the tax lot building, it received its initial certificate of occupancy on December 16, 2025. On the lot, there is one active new building construction project, B01379434, for a 75-unit, 68,494 square-foot residential (R-2) building. The project was submitted by Rogers Equities and filed by Abe Waldman with plans filed March 30, 2026 and it has not been permitted yet.
The deal closed on April 30, 2026 and was recorded on May 6, 2026. The sale price per planned zoning square foot is $438 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 Maurice Setton , Segbro Companies , and Jeffrey Sorkin was Ken Segal , Maurice Setton, and Jeffrey Sorkin. The signatory for Abraham Waldman was Abraham Waldman. The contract date was June 24, 2025. Abraham Waldman is affiliated with Rogers Equities based in Brooklyn and Bravon Capital, based in New Jersey.

Prior sales, articles and revenue

The seller Maurice Setton purchased one property in one transaction for a total of $5 million and had not sold any properties over the past two years. The 11,360-square-foot property generated revenue of $635,619 or $56 per square foot, according to the most recent income and expense figures.

The property

The retail building in Brooklyn Heights has 11,360 square feet of built space and 24,780 square feet of additional air rights for a total buildable of 36,120 square feet according to a PincusCo analysis of city data. The parcel has frontage of 80 feet and is 75 feet deep with a total lot size of 6,000 square feet. The zoning is C6-2A which allows for up to 6 times floor area ratio (FAR) for commercial and up to 6.02 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $5.4 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 $1,350 in OATH penalties in the last year.

The neighborhood

In Brooklyn Heights, The bulk, or 26 percent of the 12.1 million square feet of commercial built space are office buildings, with elevator buildings next occupying 23 percent of the space. In sales, Brooklyn Heights has 2.3 times the average sales volume among other neighborhoods with $810.4 million in sales volume in the last two years and is the 8th highest in Brooklyn. For development, Brooklyn Heights has near average amount of major developments among other neighborhoods and is the 15th highest in Brooklyn. It had 1.5 million square feet of commercial and multi-family construction under development in the last two years, which represents 12 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 10 of the 26 commercial properties representing 53,407 square feet of the 130,861 square feet. The largest owner is Sefedin Rakipi, followed by Ron Sahadi and then William Radmin.
On the tax block, there were two new building construction projects totaling 75,592 square feet. The largest is a 75-unit, 68,494 square-foot residential (R-2) building submitted by Rogers Equities and filed by Abe Waldman with plans filed March 30, 2026 and it has not been permitted yet. The second largest is a six-unit, 7,098 square-foot residential (R-2) building submitted by Ki Yol Kim with plans filed December 8, 2017 and it has not been permitted yet.

The majority, or 48 percent of the 130,861 square feet of built space are mixed-use buildings, with walkup buildings next occupying 36 percent of the space.

The seller

The PincusCo database currently indicates that Segbro Companies owned at least six commercial properties with 146 residential units in New York City with 210,468 square feet and a PincusCo-determined asset value of $37.7 million. The portfolio has $7.8 million in debt, borrowed from Jovia Financial Credit Union. Within the portfolio, the bulk, or 68 percent of the 210,468 square feet of built space are elevator properties, with mixed-use properties next occupying 30 percent of the space. The bulk, or 97 percent of the built space, is in Brooklyn, with Manhattan next at 2 percent of the space.
The PincusCo database currently indicates that Jeffrey Sorkin owned at least six commercial properties with 146 residential units in New York City with 210,468 square feet and a PincusCo-determined asset value of $37.7 million. Within the portfolio, the bulk, or 68 percent of the 210,468 square feet of built space are elevator properties, with mixed-use properties next occupying 30 percent of the space. The bulk, or 97 percent of the built space, is in Brooklyn, with Manhattan next at 2 percent of the space.
The PincusCo database currently indicates that Maurice Setton owned at least six commercial properties with 146 residential units in New York City with 210,468 square feet and a PincusCo-determined asset value of $37.7 million. Within the portfolio, the bulk, or 68 percent of the 210,468 square feet of built space are elevator properties, with mixed-use properties next occupying 30 percent of the space. The bulk, or 97 percent of the built space, is in Brooklyn, with Manhattan next at 2 percent of the space.

The buyer

The PincusCo database currently indicates that Abraham Waldman owned at least 10 commercial properties with 100 residential units in New York City with 86,608 square feet and a PincusCo-determined asset value of $44.4 million. The portfolio has $34.1 million in debt, with top three lenders as Peapack-Gladstone Bank, Valley National Bank, and Bank of Princeton respectively. Within the portfolio, the bulk, or 47 percent of the 86,608 square feet of built space are walkup properties, with elevator properties next occupying 43 percent of the space.

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