Eitan Binet pays $10.5M for likely dev site in Crown Heights

Eitan Binet through the entity Dean Street Ventures LLC paid $10.5 million to Ronen Shiponi through the entity 2023 Rachel Surizon LLC Trust for three vacant parking lots (G7) at 901, 903 and 905 Dean Street in Crown Heights, Brooklyn. The expected use is ground up development.
The deal closed on March 12, 2026 and was recorded on March 24, 2026. The three properties have zero square feet of built space and 8,326 square feet of additional air rights for a total buildable of 8,326 square feet according to a PincusCo analysis of city data. That figure does not include the buildable for the parcels since their inclusion in the Special Atlantic Avenue Mixed Use District.
The signatory for Ronen Shiponi was Ronen Shiponi. The signatory for Eitan Binet was Eitan Binet. The contract date was June 20, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Eitan Binet purchased four properties in four transactions for a total of $11.1 million and sold one property in one transaction for a total of $2 million over the past 24 months.
The seller Ronen Shiponi had not purchased any other properties and had not sold any properties over the same time period.

The property

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 $123,000.

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 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 Crown Heights, The bulk, or 39 percent of the 46.5 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 36 percent of the space. In sales, Crown Heights has 2.4 times the average sales volume among other neighborhoods with $766.7 million in sales volume in the last two years and is the 8th highest in Brooklyn. For development, Crown Heights has 1.3 times the average amount of major developments relative to other neighborhoods and is the 6th highest in Brooklyn. It had 2 million 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. There were 74 pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

On the tax block of 905 Dean Street, PincusCo has identified the owners of 10 of the 33 commercial properties representing 12,833 square feet of the 63,450 square feet. The largest owner is Nadine N. Oelsner, followed by Clipper Equity and then Black Spruce Management.
On the tax block, there was one new building construction project filed totaling 31,580 square feet. It is a 46-unit, 31,580 square-foot residential (R-2) building submitted by Solomon Schwimmer and filed by Solomon Schwimmer with plans filed December 10, 2021 and permitted March 23, 2022.

The majority, or 71 percent of the 63,450 square feet of built space are industrial buildings, with walkup buildings next occupying 9 percent of the space.

The seller

The PincusCo database currently indicates that Ronen Shiponi owned at least two commercial properties with 18 residential units in New York City with 20,445 square feet and a city-determined market value of $3.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 70 percent of the 20,445 square feet of built space are elevator properties, with walkup properties next occupying 30 percent of the space. The bulk, or 70 percent of the built space, is in Queens, with Brooklyn next at 30 percent of the space.

The buyer

The PincusCo database currently indicates that Eitan Binet owned at least eight commercial properties with 44 residential units in New York City with 5,587 square feet and a city-determined market value of $5.3 million. (Market value is typically about 50% of actual value.) The portfolio has $11.1 million in debt, borrowed from Quanta Finance and Conventus. Within the portfolio, the bulk, or 60 percent of the 5,587 square feet of built space are development properties, with B3 properties next occupying 40 percent of the space. They are all located in Brooklyn.

Direct link to Acris document. link