Blimie Perlstein pays $4.3M for two industrial properties in Dyker Heights

Blimie Perlstein through the entity 1321 Property LLC paid $4.3 million to Frank Lomangino through the entity J & F Realty Holding LLC for the industrial building (E1) at 1321 61st Street and the industrial building (G1) at 1325 61st Street in Dyker Heights, Brooklyn. The expected use is cash flowing.
The deal closed on May 22, 2025 and was recorded on May 28, 2025. The two properties have 9,160 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $469 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 Frank Lomangino was an attorney, Anthony Simari . The signatory for Blimie Perlstein was Blimie Perlstein. The contract date was December 18, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Blimie Perlstein had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Frank Lomangino had not purchased any other properties and had not sold any properties over the same time period. The two properties with a total of 9,160 square feet of built space generated revenue of $217,167 per year or $24 per square foot. The sale price per square foot was $469.

The property

The two industrial buildings in Dyker Heights have 9,160 square feet of built space according to a PincusCo analysis of city data. 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 $628,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $12,500 in ECB penalties and $12,700 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 Dyker Heights, The bulk, or 30 percent of the 7.1 million square feet of commercial built space are mixed-use buildings, with walkup buildings next occupying 26 percent of the space. In sales, Dyker Heights has had very little sales volume relative to other neighborhoods with $157.3 million in sales volume in the last two years. For development, Dyker Heights has had very little major development activity relative to other neighborhoods.It had 495,028 square feet of commercial and multi-family construction under development in the last two years, which represents 7 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

On the tax block of 1325 61st Street, PincusCo has identified the owners of six of the 30 commercial properties representing 21,443 square feet of the 130,321 square feet. The largest owner is Samuel Strulovitch, followed by Jacob Jeremias and then Eliezra Kadi As Trustee.
There are no active new building construction projects on this tax block.

The majority, or 67 percent of the 130,321 square feet of built space are industrial buildings, with mixed-use buildings next occupying 17 percent of the space.

The buyer

The PincusCo database currently indicates that Blimie Perlstein owned at least five commercial properties in New York City with 36,852 square feet and a city-determined market value of $3.9 million. (Market value is typically about 50% of actual value.) The portfolio has $10 million in debt, borrowed from Citizens Bank. Within the portfolio, the bulk, or 67 percent of the 36,852 square feet of built space are industrial properties, with K1 properties next occupying 17 percent of the space. They are all located in Brooklyn.

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