Eliahu Nahman signs $17.8M refi for new rentals in Prospect Lefferts Gardens

Eliahu Nahman through the entity Bless Winthrop LLC as borrower signed a refi loan with lender Bank of Montreal valued at $17.8 million for two properties with 56 residential units including the 49-unit residential elevator building (D3) at 250 Winthrop Street and the seven-unit residential walkup building (C1) at 254 Winthrop Street in Prospect Lefferts Gardens, Brooklyn.
The deal closed on September 18, 2025 and was recorded on September 22, 2025. The prior lender was S3 Capital which held debt that had an original loan amount of $12.5 million.The two properties have 49,845 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $357 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 Eliahu Nahman was Eliahu Nahman. The signatory for Bank of Montreal was Michael Birajiclian .

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 250 Winthrop Street.

Prior sales and revenue

The owner according to the Department of Housing Preservation and Development is Sam Wurzberger, head officer. The business entity is Bless Winthrop Llc. The two properties with a total of 49,845 square feet of built space generated revenue of $1.3 million per year or $26 per square foot.

The property

The residential elevator building with 49 residential units in Prospect Lefferts Gardens has 49,845 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 80 feet and is 122 feet deep with a total lot size of 7,350 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 million. Spruce Capital on June 30, 2021 bought a loan with an original principal of 12500000.0 from S3 Capital signed by Eliahu Nahman, secured by 250 Winthrop Street, when owned by Eliahu Nahman.

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

On these lots, there are two active new building construction projects and major alteration projects with initial costs more than $5 million, totaling 21,514 square feet. The largest, 321589893, is a new building project for a 24-unit, 16,154 square-foot R-2 building submitted by David Sinay with plans filed April 7, 2020 and permitted January 18, 2022. The second largest, 321591050, is a new building project for a seven-unit, 5,360 square-foot R-2 building submitted by David Sinay with plans filed May 27, 2020 and permitted January 6, 2022.

The block

On the tax block of 250 Winthrop Street, PincusCo has identified the owners of eight of the 19 commercial properties representing 39,008 square feet of the 107,059 square feet. The largest owner is City Of New York, followed by Candor Capital and then Nigel Boyden.
On the tax block, there were four new building construction projects totaling 54,652 square feet. The largest is a 18-unit, 27,610 square-foot residential (R-2) building submitted by Nigel Boyden and filed by Nigel Boyden with plans filed July 22, 2021 and permitted December 20, 2023. The second largest is a 24-unit, 16,154 square-foot residential (R-2) building submitted by David Sinay with plans filed April 7, 2020 and permitted January 18, 2022.

The majority, or 53 percent of the 107,059 square feet of built space are walkup buildings, with mixed-use buildings next occupying 20 percent of the space.

The borrower

The PincusCo database currently indicates that Eliahu Nahman owned at least eight commercial properties with 110 residential units in New York City with 101,110 square feet and a city-determined market value of $14.7 million. (Market value is typically about 50% of actual value.) The portfolio has $42.2 million in debt, with top three lenders as Peapack-Gladstone Bank, Bank of Princeton, and Popular Bank respectively. Within the portfolio, the bulk, or 93 percent of the 101,110 square feet of built space are elevator properties, with walkup properties next occupying 7 percent of the space. They are all located in Brooklyn.

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