Hassan Kassim pays $4.2M to Abrom Badalov for retail in Harlem

Hassan Kassim through the entity 2923 Moe Realty LLC paid $4.2 million to Abrom Badalov through the entity Mazal Ubracha 101 LLC for the retail building (K4) at 2923 Frederick Douglass Boulevard in Harlem, Manhattan. The expected use is cash flowing.
The deal closed on November 26, 2025 and was recorded on December 9, 2025. The property has 7,562 square feet of built space and 2,446 square feet of additional air rights for a total buildable of 9,984 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $555 and the price per buildable square foot is $420 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 August 30, 2019, for $1 million. The signatory for Abrom Badalov was Abrom Badalov. The signatory for Hassan Kassim was Hassan Kassim. The contract date was October 17, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Hassan Kassim purchased one property in one transaction for a total of $1.9 million and has no record it sold any properties over the past 24 months.
The seller Abrom Badalov had not purchased any other properties and had not sold any properties over the same time period. The 7,562-square-foot property generated revenue of $219,147 or $29 per square foot, according to the most recent income and expense figures.

The property

The retail building in Harlem has 7,562 square feet of built space and 2,446 square feet of additional air rights for a total buildable of 9,984 square feet according to a PincusCo analysis of city data. The parcel has frontage of 49 feet and is 100 feet deep with a total lot size of 4,992 square feet. The zoning is C8-3 which allows for up to 2 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $1.1 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 received $5,600 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 neighborhood

In Harlem, The bulk, or 43 percent of the 81.1 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 30 percent of the space. In sales, Harlem has 2.4 times the average sales volume among other neighborhoods with $715.9 million in sales volume in the last two years and is the 15th highest in Manhattan. For development, Harlem has 2.5 times the average amount of major developments relative to other neighborhoods and is the 10th highest in Manhattan. It had 3.7 million square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of nine of the 18 commercial properties representing 138,929 square feet of the 285,060 square feet. The largest owner is Black Spruce Management, followed by Abj Properties and then Joint Ownership Entity New York City.
On the tax block, there was one new building construction project filed totaling 9,258 square feet. It is a 14-unit, 9,258 square-foot residential (R-2) building submitted by Tomer Chen|Howard Mermelstein and filed by Tomer Chen with plans filed November 5, 2014 and permitted February 1, 2017.

The majority, or 55 percent of the 285,060 square feet of built space are elevator buildings, with walkup buildings next occupying 39 percent of the space.

The buyer

The PincusCo database currently indicates that Hassan Kassim owned at least one commercial property in New York City with 4,000 square feet and a city-determined market value of $537,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single retail property. It is located in Bronx.

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