Bnos Chaya Draizy Foundation pays $7M for religious building in Borough Park

Bnos Chaya Draizy Foundation paid $7 million to Beis Sefer Govoha Lebanos Sara Schenirer for the religious building (M1) at 4622 14th Avenue in Borough Park, Brooklyn. The expected use is owner-occupied.
The deal closed on April 3, 2025 and was recorded on April 10, 2025. The property has 13,769 square feet of built space and 4,127 square feet of additional air rights for a total buildable of 17,909 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $508 and the price per buildable square foot is $390 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 Beis Sefer Govoha Lebanos Sara Schenirer was Eliazer Meisels. The signatory for Bnos Chaya Draizy Foundation was Efraim Fink and Chaya D. Fink. The contract date was February 4, 2021.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Bnos Chaya Draizy Foundation had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Beis Sefer Govoha Lebanos Sara Schenirer had not purchased any other properties and had not sold any properties over the same time period.

The property

The specialty building in Borough Park has 13,769 square feet of built space and 4,127 square feet of additional air rights for a total buildable of 17,909 square feet according to a PincusCo analysis of city data. The parcel has frontage of 92 feet and is 80 feet deep with a total lot size of 7,370 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.8 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 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 neighborhood

In Borough Park, The bulk, or 25 percent of the 23.3 million square feet of commercial built space are specialty buildings, with mixed-use buildings next occupying 21 percent of the space. In sales, Borough Park has 2.7 times the average sales volume among other neighborhoods with $717.7 million in sales volume in the last two years and is the 6th highest in Brooklyn. For development, Borough Park has had very little major development activity relative to other neighborhoods.It had 967,252 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 two of the 15 commercial properties representing 40,168 square feet of the 82,472 square feet. The two identified owners are Mike Kohn and Joseph Perlman.
There are no active new building construction projects on this tax block.

The majority, or 53 percent of the 82,472 square feet of built space are mixed-use buildings, with elevator buildings next occupying 43 percent of the space.

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