Bruklyn Builders sells two walkups in Williamsburg for $14.2M

Barbara S. Herman through the entity Leonard Herman LLC paid $14.2 million to Bruklyn Builders through the entity 366 Leonard St LLC for the 10-unit residential walkup building (C1) at 366 Leonard Street in Williamsburg, Brooklyn and 10-unit residential walkup building (C1) at 368 Leonard Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on July 16, 2025 and was recorded on July 25, 2025. The two properties have 14,814 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $958 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 Bruklyn Builders was David Halberstam . The signatory for Barbara S. Herman was Barbara S. Herman. The contract date was May 9, 2025.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 366 Leonard Street.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Barbara S. Herman had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Bruklyn Builders purchased two properties in two transactions for a total of $10.6 million and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is David Halberstam, head officer. The business entity is 366 Leonard St Llc.

The property

The zoning is M1-2/R6 which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 2.43 times FAR for residential. The city-designated market value for the property in 2022 is $2.1 million. The most recent loan totaled $10.6 million and was provided by Valley National Bank on March 23, 2023.

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 $25 in OATH penalties in the last year.

Development

On these lots, there are two active new building construction projects and major alteration projects with initial costs more than $5 million, totaling 13,459 square feet. The largest, B00634183, is a new building project for a 10-unit, 6,729 square-foot R-2 building submitted by David Halberstam with plans filed December 1, 2021 and permitted July 29, 2022. The second largest, B00635778, is a new building project for a 10-unit, 6,729 square-foot R-2 building submitted by David Halberstam with plans filed December 1, 2021 and permitted June 22, 2022.

The block

On the tax block of 366 Leonard Street, PincusCo has identified the owners of 10 of the 17 commercial properties representing 34,850 square feet of the 67,991 square feet. The largest owner is Cono Mazza, followed by Coraggio Angelo and then Chaskel Babad.
On the tax block, there were four new building construction projects totaling 32,453 square feet. The largest is a 20-unit, 13,499 square-foot residential (R-2) building submitted by Yisroel Greenfeld and filed by Yisroel Greenfeld with plans filed May 25, 2022 and permitted August 29, 2023. The second largest is a 10-unit, 6,729 square-foot residential (R-2) building submitted by David Halberstam with plans filed December 1, 2021 and permitted June 22, 2022.

The majority, or 59 percent of the 67,991 square feet of built space are walkup buildings, with industrial buildings next occupying 20 percent of the space.

The seller

The PincusCo database currently indicates that Bruklyn Builders owned at least four commercial properties with 70 residential units in New York City with 19,515 square feet and a city-determined market value of $4.2 million. (Market value is typically about 50% of actual value.) The portfolio has $76 million in debt, with top three lenders as Zions Bancorporation, S3 Capital, and LMF Commercial respectively. Within the portfolio, the bulk, or 38 percent of the 19,515 square feet of built space are retail properties, with mixed-use properties next occupying 32 percent of the space. They are all located in Brooklyn.

The buyer

The PincusCo database currently indicates that Barbara S. Herman owned at least two commercial properties with 20 residential units in New York City with 2,600 square feet and a city-determined market value of $3 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 50 percent of the 2,600 square feet of built space are C1 properties, with development properties next occupying 50 percent of the space. They are all located in Brooklyn.

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