Guy Peleg pays $8.5M to Loketch Group for 27-unit rental in Bedford Stuyvesant

Guy Peleg through the entity 1004-06 Gates Avenue Owner LLC paid $8.5 million to Pinchos Loketch of the Loketch Group through the entity 1004-06 Gates Avenue LLC for the 27-unit residential elevator building (D3) at 1004 Gates Avenue in Bedford Stuyvesant, Brooklyn. The expected use is cash flowing.
The deal closed on September 26, 2025 and was recorded on October 16, 2025. The property has 19,130 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $444 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 June 5, 2013, for $500,000. The signatory for Guy Peleg was Guy Peleg. The contract date was April 18, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Guy Peleg had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Pinchos Loketch had not purchased any other properties and had not sold any properties over the same time period. The 19,130-square-foot property generated revenue of $739,147 or $39 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 27 residential units in Bedford Stuyvesant has 19,130 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 40 feet and is 100 feet deep with a total lot size of 4,000 square feet. The zoning is C4-4L which allows for up to nan times floor area ratio (FAR) for commercial and up to 4 times FAR for residential with inclusionary housing. The property has a J-51 exemption that started in 2020 and expires in 2034. The city-designated market value for the property in 2022 is $3.6 million.

Violations and lawsuits

The property was involved in one lawsuit and zero bankruptcies over the past two years. The suit was a $9.1 million commercial foreclosure concerning a loan filed on June 12, 2024, by TD Bank against Pinchos Loketch. In addition, according to city public data, the property has received $2,500 in ECB penalties, four housing violations, and $2,500 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on February 23, 2018. 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 11 of the 19 commercial properties representing 180,102 square feet of the 325,098 square feet. The largest owner is Aron Kapelyus, followed by Moshe Loketch and then Howard Jaffe.
On the tax block, there was one new building construction project filed totaling 7,565 square feet. It is a 10-unit, 7,565 square-foot residential (R-2) building submitted by Hershel Spitz with plans filed September 14, 2017 and it has not been permitted yet.

The majority, or 54 percent of the 325,098 square feet of built space are elevator buildings, with office buildings next occupying 23 percent of the space.

The buyer

The PincusCo database currently indicates that Guy Peleg owned at least four commercial properties with 31 residential units in New York City with 9,283 square feet and a city-determined market value of $4.9 million. (Market value is typically about 50% of actual value.) The portfolio has $22 million in debt, borrowed from Valley National Bank and Bank Leumi. Within the portfolio, the bulk, or 85 percent of the 9,283 square feet of built space are walkup properties, with mixed-use properties next occupying 15 percent of the space. They are all located in Brooklyn.

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