Herman Jacob pays $3.8M for industrial in Cypress Hills

Herman Jacob through the entity 2413 Gardens LLC paid $3.8 million to the entity 2413 Atlantic Avenue Realty Corp. for the industrial building (F5) at 2413 Atlantic Avenue in Cypress Hills, Brooklyn.
The deal closed on October 28, 2025 and was recorded on November 6, 2025. The property has 12,085 square feet of built space and 20,923 square feet of additional air rights for a total buildable of 33,037 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $314 and the price per buildable square foot is $115 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 Barbara Noble was Barbara Noble. The signatory for Herman Jacob was Aaron Stein. The contract date was October 31, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Herman Jacob purchased one property in one transaction for a total of $2.8 million and has no record it sold any properties over the past 24 months.
The seller Barbara Noble had not purchased any other properties and had not sold any properties over the same time period. The 12,085-square-foot property generated revenue of $160,026 or $13 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Cypress Hills has 12,085 square feet of built space and 20,923 square feet of additional air rights for a total buildable of 33,037 square feet according to a PincusCo analysis of city data. The parcel has frontage of 93 feet and is 84 feet deep with a total lot size of 7,866 square feet. The zoning is C4-5D which allows for up to 4.2 times floor area ratio (FAR) for commercial and up to 4.2 times FAR for residential with inclusionary housing. 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 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 Cypress Hills, The bulk, or 24 percent of the 8.6 million square feet of commercial built space are mixed-use buildings, with specialty buildings next occupying 20 percent of the space. In sales, Cypress Hills has the 37th highest sale turnover among other neighborhoods in Brooklyn with $77.2 million in sales volume in the last two years. For development, Cypress Hills has near average amount of major developments among other neighborhoods and is the 10th highest in Brooklyn. It had 1.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 15 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of two of the eight commercial properties representing 10,803 square feet of the 64,401 square feet. The identified owner is Yidel Kohn.
On the tax block, there were two new building construction projects totaling 147,696 square feet. The largest is a 99-unit, 74,533 square-foot residential (R-2) building submitted by Abraham Biller and filed by Abraham Biller with plans filed July 24, 2025 and it has not been permitted yet. The second largest is a 99-unit, 73,163 square-foot residential (R-2) building submitted by Abraham Biller and filed by Abraham Biller with plans filed July 21, 2025 and it has not been permitted yet.

The majority, or 50 percent of the 64,401 square feet of built space are walkup buildings, with industrial buildings next occupying 50 percent of the space.

The buyer

The PincusCo database currently indicates that Herman Jacob owned at least three commercial properties with 27 residential units in New York City with 7,905 square feet and a city-determined market value of $4.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 60 percent of the 7,905 square feet of built space are C1 properties, with mixed-use properties next occupying 40 percent of the space. The bulk, or 60 percent of the built space, is in Bronx, with Brooklyn next at 40 percent of the space.

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