Fouerti Realty pays $14.77M for two rentals in Sheepshead Bay

Fouerti Realty paid $14.77 million to Ira Epstein and Gulbahar Epstein for two residential elevator buildings in Sheepshead Bay, Brooklyn, in two transactions.

In the larger, Fouerti Realty through the entity Avenue V Holdings LLC paid $8.9 million to the Epsteins through the entity 2249 Realty LLC for the 47-unit residential elevator building (D7) at 2249 East 21st Street in Sheepshead Bay, Brooklyn. The expected use is cash flowing.
The deal closed on March 20, 2026 and was recorded on March 24, 2026. The property has 46,200 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $192 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 Gulbahar Epstein was Gulbahar Epstein. The signatory for Fouerti Realty was Elie Fouerti . The contract date was January 14, 2026.

In the smaller, Fouerti Realty through the entity Avenue V Holdings LLC paid $5.9 million to the Epsteins through the entity 2113 Realty LLC for the 29-unit residential elevator building (D7) at 2113 Avenue V in Sheepshead Bay, Brooklyn. The expected use is cash flowing.
The deal closed on March 20, 2026 and was recorded on March 24, 2026. The property has 46,200 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $127 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 Gulbahar Epstein was Gulbahar Epstein. The signatory for Fouerti Realty was Elie Fouerti . The contract date was January 14, 2026.

Prior sales, articles and revenue

The former owners according to the Department of Housing Preservation and Development includes Ira Epstein, head officer and Chris Sanchez, officer. The business entity is 2249 Realty Llc. The 46,200-square-foot property generated revenue of $847,394 or $18 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 47 residential units in Sheepshead Bay has 46,200 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 100 feet deep with a total lot size of 10,000 square feet. The zoning is R4 which allows for up to 0.75 times floor area ratio (FAR) for residential. The property has a J-51 exemption that started in 2013 and expires in 2027. The city-designated market value for the property in 2022 is $3.6 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 one DOB violation, seven housing violations, and $350 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 eight commercial properties representing 138,400 square feet of the 162,385 square feet. The largest owner is Sam Shpelfogel, followed by Ira Epstein and then Ira J. Epstein.
There are no active new building construction projects on this tax block.

The majority, or 57 percent of the 162,385 square feet of built space are elevator buildings, with walkup buildings next occupying 40 percent of the space.

Direct link to Acris document. 2249 East 21st Street link
Direct link to Acris document. 2113 Avenue V link