Jackson Group pays $3.5M to Magen Abraham Yeshiva for mixed-use in Gravesend

Jackson Group through the entity 355 Avenue U LLC paid $3.5 million to Magen Abraham Yeshiva through the entity Magen Abraham Yeshiva Inc. for the mixed-use building (K4) at 355-357 Avenue U in Gravesend, Brooklyn.
The deal closed on January 13, 2026 and was recorded on January 21, 2026. The property has 5,720 square feet of built space and 6,280 square feet of additional air rights for a total buildable of 12,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $611 and the price per buildable square foot is $291 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 March 31, 2022, for $10.1 million. The signatory for Magen Abraham Yeshiva was Joseph Churba. The signatory for Jackson Group was Gabriel Chehebar . The contract date was March 25, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Jackson Group purchased 10 properties in seven transactions for a total of $165.3 million and sold seven properties in six transactions for a total of $24.4 million over the past 24 months.
The seller Magen Abraham Yeshiva had not purchased any other properties and had not sold any properties over the same time period. The 5,720-square-foot property generated revenue of $208,151 or $36 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building in Gravesend has 5,720 square feet of built space and 6,280 square feet of additional air rights for a total buildable of 12,000 square feet 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 R6A which allows for up to 3 times floor area ratio (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 received $500 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 Gravesend, The bulk, or 40 percent of the 19.2 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 17 percent of the space. In sales, Gravesend has near average sales volume among other neighborhoods with $340.5 million in sales volume in the last two years and is the 22nd highest in Brooklyn. For development, Gravesend has had very little major development activity relative to other neighborhoods.It had 545,223 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of five of the 23 commercial properties representing 27,679 square feet of the 187,911 square feet. The largest owner is Magen Abraham Yeshiva, followed by Marcus Adjmi and then Alan Karul.
On the tax block, there were 11 new building construction projects totaling 79,764 square feet. The largest is a 10-unit, 19,231 square-foot residential (R-2) building submitted by Michael Armouth with plans filed December 16, 2016 and it has not been permitted yet. The second largest is a 10-unit, 17,988 square-foot residential (R-2) building submitted by Aviran Nachum and filed by Aviran Nachum with plans filed August 8, 2024 and permitted April 10, 2025.

The majority, or 73 percent of the 187,911 square feet of built space are walkup buildings, with mixed-use buildings next occupying 17 percent of the space.

The seller

The PincusCo database currently indicates that Magen Abraham Yeshiva owned at least one commercial property in New York City with 15,960 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 mixed-use property. It is located in Brooklyn.

The buyer

The PincusCo database currently indicates that Jackson Group owned at least eight commercial properties with 33 residential units in New York City with 306,504 square feet and a city-determined market value of $90 million. (Market value is typically about 50% of actual value.) The portfolio has $27.8 million in debt, borrowed from Signature Bank and Safra National Bank. Within the portfolio, the bulk, or 32 percent of the 306,504 square feet of built space are retail properties, with mixed-use properties next occupying 28 percent of the space. The bulk, or 42 percent of the built space, is in Manhattan, with Brooklyn next at 32 percent of the space.

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