Gadi Ben-Hamo pays $2.6M for industrial in East Flatbush

Gadi Ben-Hamo through the entity 5803 Kings Highway LLC paid $2.6 million to Andreas Stylianou through the entity Church Avenue Estates Corp. for the industrial building (G8) at 5803 Kings Highway in East Flatbush, Brooklyn.

The deal closed on February 2, 2026 and was recorded on February 11, 2026. The property has 2,275 square feet of built space and 13,030 square feet of additional air rights for a total buildable of 15,330 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,142 and the price per buildable square foot is $169 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 July 31, 2015, for $2.1 million. The signatory for Andreas Stylianou was Andreas Stylianou. The signatory for Gadi Ben-Hamo was Gadi Ben Hamo . The contract date was July 24, 2025.

DY Realty Group was marketing the property as a NNN leased property, 5308 Kings Highway. It’s unclear if that’s the expected use.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Gadi Ben-Hamo purchased one property in one transaction for a total of $2.7 million and sold one property in one transaction for a total of $18.6 million over the past 24 months.
The seller Andreas Stylianou had not purchased any other properties and had not sold any properties over the same time period.

The property

The industrial building in East Flatbush has 2,275 square feet of built space and 13,030 square feet of additional air rights for a total buildable of 15,330 square feet according to a PincusCo analysis of city data. The parcel has frontage of 181 feet and is 100 feet deep with a total lot size of 15,330 square feet. The lot is irregular. The zoning is C8-1 which allows for up to 1 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $2.1 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 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 East Flatbush, The bulk, or 32 percent of the 42.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 24 percent of the space. In sales, East Flatbush has 1.5 times the average sales volume among other neighborhoods with $494.4 million in sales volume in the last two years and is the 13th highest in Brooklyn. For development, East Flatbush has 1.2 times the average amount of major developments relative to other neighborhoods and is the 8th highest in Brooklyn. It had 1.8 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 three pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of one of the two commercial properties representing 2,275 square feet of the 2,275 square feet. The identified owner is Charalambos Charalambous.
On the tax block, there was one new building construction project filed totaling 7,957 square feet. It is a 15-unit, 7,957 square-foot residential (R-2) building submitted by Joe Schwimmer and filed by Joe Schwimmer with plans filed August 22, 2025 and it has not been permitted yet.

The majority, or 100 percent of the 2,275 square feet of built space are industrial buildings, with development buildings next occupying 0 percent of the space.

The seller

The PincusCo database currently indicates that Andreas Stylianou owned at least two commercial properties in New York City with 9,960 square feet and a city-determined market value of $2.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are industrial properties. The bulk, or 77 percent of the built space, is in Queens, with Brooklyn next at 23 percent of the space.

The buyer

The PincusCo database currently indicates that Gadi Ben-Hamo owned at least one commercial property in New York City with 7,474 square feet and a city-determined market value of $1.5 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single retail property. It is located in Queens.

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