Avery Hall pays $10.1M for bankrupt All Year dev site in Crown Heights

Avery Hall Investments through the entity Bedford Acquisition Partners LLC paid $10.1 million through a bankruptcy for the vacant development site at 1550 Bedford Avenue in Crown Heights, Brooklyn. The former owner was Yoel Goldman’s All Year Management through the entity 1550 Bedford Ave LLC, which lost it in the bankruptcy. The expected use is ground up development.

The Brooklyn Eagle reported on this sale previously.
The deal closed on August 12, 2025 and was recorded on August 22, 2025. The property has 61,848 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $163 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 November 19, 2014, for $7.2 million. The signatory for All Year Management was Yoel Goldman . The signatory for Avery Hall Investments was Avishy Fisher . The contract date was August 12, 2025. The bankruptcy case was Eastern District of New York in Brooklyn Case No. 24-45433-ess.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Avery Hall Investments had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller All Year Management had not purchased any other properties and sold or turned over two properties in two transactions for a total of $252.9 million over the same time period.

The property

The hotel building in Crown Heights has 61,848 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 192 feet and is 100 feet deep with a total lot size of 19,200 square feet. The zoning is C8-2 which allows for up to 2 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $4.7 million.

Violations and lawsuits

The property was involved in zero lawsuits and one bankruptcy over the past two years. The bankruptcy was filed on December 31, 2024, by Yoel Goldman citing assets of $14 million. In addition, according to city public data, the property has received $100 in OATH penalties in the last year.

Development

On the lot, there was a new building construction project, 321413412, for a 100-unit, 38,356 square-foot hotel (R-1) building. The project was submitted by Yoel Schwimmer and filed by Yoel Schwimmer with plans filed July 1, 2016 and permitted July 19, 2018.

The neighborhood

In Crown Heights, The bulk, or 39 percent of the 46.5 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 36 percent of the space. In sales, Crown Heights has 2.1 times the average sales volume among other neighborhoods with $605.3 million in sales volume in the last two years and is the 10th highest in Brooklyn. For development, Crown Heights has 1.2 times the average amount of major developments relative to other neighborhoods and is the 11th highest in Brooklyn. It had 1.7 million square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of eight of the 11 commercial properties representing 238,545 square feet of the 316,733 square feet. The largest owner is Sterling Equities, followed by Lilmor Management and then Andrew Weber.
On the tax block, there was one new building construction project filed totaling 38,356 square feet. It is a 100-unit, 38,356 square-foot hotel/dormitory/shelter (R-1) building submitted by Yoel Schwimmer and filed by Yoel Schwimmer with plans filed July 1, 2016 and permitted July 19, 2018.

The majority, or 54 percent of the 316,733 square feet of built space are walkup buildings, with elevator buildings next occupying 25 percent of the space.

The seller

The PincusCo database currently indicates that All Year Management owned at least 39 commercial properties with 377 residential units in New York City with 372,053 square feet and a city-determined market value of $66.5 million. (Market value is typically about 50% of actual value.) The portfolio has $14.6 million in debt, with top three lenders as Signature Bank, Dime Community Bank, and Maverick Real Estate Partners respectively. Within the portfolio, the bulk, or 55 percent of the 372,053 square feet of built space are walkup properties, with elevator properties next occupying 24 percent of the space. They are all located in Brooklyn.

The buyer

The PincusCo database currently indicates that Avery Hall Investments owned at least 12 commercial properties with 459 residential units in New York City with 262,577 square feet and a city-determined market value of $62.8 million. (Market value is typically about 50% of actual value.) The portfolio has $468.5 million in debt, with top three lenders as QuadReal Property Group, KKR & Co., and Square Mile Capital Management respectively. Within the portfolio, the bulk, or 90 percent of the 262,577 square feet of built space are elevator properties, with industrial properties next occupying 10 percent of the space. They are all located in Brooklyn.

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