Congregation ML pays $6M to Congregation Ohel Shalom for 10-unit building in Borough Park

Congregation ML through the entity Con ML LLC paid $6 million to Congregation Ohel Shalom of Borough Park through the entity OS Builders LLC for the newly constructed 10-unit property at 4419 12th Avenue in Borough Park, Brooklyn.

The condominium plan and a 2017 petition 510475/2017 asking the New York State Attorney General to approve the sale by Congregation Ohel Shalom to the developer Samuel Pfeiffer, which was approved, contemplated dividing the property into 10 residential units and four commercial condominium units. Pfeiffer would keep and sell the residential units (one apartment would be for Ohel Shalom) and Ohel Shalom would get a sanctuary and an income producing unit. It’s unclear if this transaction is part of that process or outside of it. The language in the deed states it is the entire property, not a portion of it.

The condo plan was accepted in January 2025.

On the lot, there is one new building construction project, 320891843, for a 10-unit, 30,421 square-foot residential (R-2) building. The project was submitted by Samuel Pfeiffer and filed by Shabsie Pfeiffer with plans filed December 29, 2014 and permitted December 3, 2015. On the tax lot, the most recent condominium plan was filed by OS BUILDERS LLC to create 10 residential units in a building at 4419 12th Avenue in Borough Park, Brooklyn, called 4419 12th Avenue Condominium that has a $16 million sellout, according to an January 06, 2021 submission to the New York State Attorney General. The principal of the sponsor, OS Builders LLC, was Samuel Pfeiffer.

The sale closed on July 2, 2025 and was recorded on July 16, 2025. The property has 37,659 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $159 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 June 25, 2018, for $2 million. The signatory for Congregation Ohel Shalom of Borough Park was Avinoam Butel. The contract date was May 30, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Congregation ML had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Congregation Ohel Shalom of Borough Park purchased one property in one transaction for a total of $3 million and had not sold any properties over the same time period. The 37,659-square-foot property generated revenue of $1.8 million or $47 per square foot, according to the most recent income and expense figures.

The property

The property with 10 residential units in Borough Park has 37,659 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 60 feet and is 100 feet deep with a total lot size of 6,017 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 $1.3 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 $17,300 in ECB penalties and $17,300 in OATH penalties in the last year.

Development

The block

On this tax block, PincusCo has identified the owners of four of the eight commercial properties representing 32,414 square feet of the 89,108 square feet. The two identified owners are Mp Management and Rose Rokeach.
On the tax block, there was one new building construction project filed totaling 30,421 square feet. It is a 10-unit, 30,421 square-foot residential (R-2) building submitted by Samuel Pfeiffer and filed by Shabsie Pfeiffer with plans filed December 29, 2014 and permitted December 3, 2015.

The majority, or 48 percent of the 89,108 square feet of built space are elevator buildings, with retail buildings next occupying 19 percent of the space.

The seller

The PincusCo database currently indicates that Congregation Ohel Shalom Of Borough Park owned at least one commercial property with two residential units in New York City with 4,392 square feet and a city-determined market value of $2 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Brooklyn.

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