Elisheva Realty pays $3.5M for 23-unit walkup in Sunnyside

Elisheva Realty through the entity G Naim 40th LLC paid $3.5 million to the entity Conscious Affluent Real Estate LLC Holding Series for the 23-unit residential walkup building (C1) at 41-42 40th Street in Sunnyside, Queens. The expected use is cash flowing.
The deal closed on October 21, 2025 and was recorded on October 30, 2025. The property has 13,500 square feet of built space and 5,790 square feet of additional air rights for a total buildable of 19,300 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $259 and the price per buildable square foot is $181 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 the seller was Kalliope Barlis. The signatory for Elisheva Realty was Sean Sedaghatpour . The contract date was August 28, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Elisheva Realty purchased nine properties in two transactions for a total of $8.4 million and has no record it sold any properties over the past 24 months.
The seller Kalliope Barlis had not purchased any other properties and sold one property in one transaction for a total of $9.5 million over the same time period. The 13,500-square-foot property generated revenue of $344,465 or $26 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 23 residential units in Sunnyside has 13,500 square feet of built space and 5,790 square feet of additional air rights for a total buildable of 19,300 square feet according to a PincusCo analysis of city data. The parcel has frontage of 48 feet and is 100 feet deep with a total lot size of 4,825 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.2 million. The property has 9 rent regulated units according to city tax records from 2022.

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 $250 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 three of the five commercial properties representing 132,500 square feet of the 146,900 square feet. The largest owner is Goldy Rabinowitz, followed by Luxstone Partners and then Dmitry-Daniel Figotin.
There are no active new building construction projects on this tax block.

The majority, or 57 percent of the 146,900 square feet of built space are elevator buildings, with walkup buildings next occupying 42 percent of the space.

The buyer

The PincusCo database currently indicates that Elisheva Realty owned at least 13 commercial properties with 54 residential units in New York City with 49,725 square feet and a city-determined market value of $9.7 million. (Market value is typically about 50% of actual value.) The portfolio has $3.5 million in debt, borrowed from JPMorgan Chase. Within the portfolio, the bulk, or 60 percent of the 49,725 square feet of built space are walkup properties, with industrial properties next occupying 13 percent of the space. The bulk, or 63 percent of the built space, is in Brooklyn, with Manhattan next at 37 percent of the space.

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