Chaim Lefkovits pays $2.5M for 4-unit walkup in East Williamsburg

Chaim Lefkovits through the entity CL Powers LLC paid $2.5 million to Joel Weiss through the entity H Powers LLC for the four-unit building (C3) at 294 Powers Street in East Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on October 29, 2025 and was recorded on November 14, 2025. The property has 3,150 square feet of built space and 1,850 square feet of additional air rights for a total buildable of 5,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $777 and the price per buildable square foot is $490 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 August 2, 2016, for $2.4 million. The signatory for Joel Weiss was Joel Weiss. The signatory for Chaim Lefkovits was Chaim Lefkovits. The contract date was October 19, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Chaim Lefkovits had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Joel Weiss purchased six properties in four transactions for a total of $8.9 million and sold one property in one transaction for a total of $1.3 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Joel Weiss, head officer and Mark Halpern, site manager. The business entity is H Powers Llc.

The property

The 1-4 family building with 4 residential units in East Williamsburg has 3,150 square feet of built space and 1,850 square feet of additional air rights for a total buildable of 5,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.1 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 $50 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 block

On this tax block, PincusCo has identified the owners of 11 of the 15 commercial properties representing 254,679 square feet of the 276,044 square feet. The largest owner is St. Nicks Alliance, followed by Yidel Hirsch and then Lemle & Wolff.
On the tax block, there was one new building construction project filed totaling 171,906 square feet. It is a 187-unit, 171,906 square-foot residential (R-2) building submitted by St. Nicks Alliance and filed by Frank Lang with plans filed September 2, 2025 and it has not been permitted yet.

The majority, or 79 percent of the 276,044 square feet of built space are elevator buildings, with mixed-use buildings next occupying 8 percent of the space.

The seller

The PincusCo database currently indicates that Joel Weiss owned at least 10 commercial properties with 62 residential units in New York City with 67,242 square feet and a city-determined market value of $10.1 million. (Market value is typically about 50% of actual value.) The portfolio has $30.8 million in debt, with top three lenders as Parke Bank, Popular Bank, and Ridgewood Savings Bank respectively. Within the portfolio, the bulk, or 55 percent of the 67,242 square feet of built space are elevator properties, with walkup properties next occupying 30 percent of the space. The bulk, or 68 percent of the built space, is in Bronx, with Brooklyn next at 32 percent of the space.

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