Industry Capital pays $4.4M to Leviathan Capital for mixed-use in Williamsburg

Industry Capital paid just over $4.4 million to Leviathan Capital for two adjacent mixed-use building in Williamsburg, Brooklyn, in two separate transactions. Leviathan Capital bought the two properties on September 30, 2025, for $3.55 million, with a plan to renovate and re-lease them.

In the first, Industry Capital through the entity Icrp-Cg Havemeyer LLC paid $2.2 million to Leviathan Capital through the entity 613 Hav LLC for the two-unit mixed-use building (S2) at 159 Havemeyer Street in Williamsburg, Brooklyn.
The deal closed on December 19, 2025 and was recorded on January 26, 2026. The property has 3,120 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $707 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.)

In the second, Industry Capital through the entity Icrp-Cg Havemeyer LLC paid $2.2 million to Leviathan Capital through the entity 613 Hav LLC for the mixed-use building (K4) at 157 Havemeyer Street in Williamsburg, Brooklyn.
The deal closed on December 19, 2025 and was recorded on January 26, 2026. The property has 3,120 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $707 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 Leviathan Capital was Yaniv Cohen . The signatory for Industry Capital was Michael Paranac . The contract date was December 3, 2025.

Leviathan Capital bought the properties from the heirs of children’s clothing retailer Natan Borlam. Borlam purchased 157 Havemeyer Street for $15,000 in February 1969 and later purchased 159 Havemeyer Street in March 1977 for an undisclosed amount, in a transaction financed with a $4,000 purchase money mortgage from the seller.

Borlam, a native of Czechoslovakia and a survivor of Auschwitz, opened the children’s store in 1952, The New York Times reported in 2003.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Industry Capital had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Leviathan Capital purchased two properties in two transactions for a total of $3.5 million and had not sold any properties over the same time period.

The property

The mixed-use building with 2 residential units in Williamsburg has 3,120 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 19 feet and is 45 feet deep with a total lot size of 878 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.7 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 Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 6th highest sale turnover among other neighborhoods in the city with $1.9 billion in sales volume in the last two years. For development, Williamsburg is the most active neighborhood among other neighborhoods. It had 42.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space. There were three pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of nine of the 15 commercial properties representing 109,163 square feet of the 132,068 square feet. The largest owner is Sholem Kestenbaum, followed by Jacob Schwartz and then Dax Capital.
On the tax block, there was one new building construction project filed totaling 11,153 square feet. It is a 16-unit, 11,153 square-foot residential (R-2) building submitted by Yisroel Greenfeld with plans filed March 16, 2022 and permitted December 15, 2022.

The majority, or 42 percent of the 132,068 square feet of built space are elevator buildings, with walkup buildings next occupying 41 percent of the space.

The seller

The PincusCo database currently indicates that Leviathan Capital owned at least seven commercial properties with 44 residential units in New York City with 29,205 square feet and a city-determined market value of $8.5 million. (Market value is typically about 50% of actual value.) The portfolio has $16.2 million in debt, with top three lenders as JLL, Leviathan Capital, and Rossmils Investments respectively. Within the portfolio, the bulk, or 44 percent of the 29,205 square feet of built space are walkup properties, with retail properties next occupying 34 percent of the space. The bulk, or 56 percent of the built space, is in Brooklyn, with Manhattan next at 44 percent of the space.

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