Jacob Kohn pays $5M to Cycamore Capital for mixed-use in Bedford Stuyvesant

Jacob Kohn through the entity Myrtle Kent Development LLC paid $5 million to Cycamore Capital through the entity 620 Myrtle Avenue, LLC for the four-unit mixed-use building (S4) at 620 Myrtle Avenue in Bedford Stuyvesant, Brooklyn.
The deal closed on June 3, 2026 and was recorded on June 23, 2026. The property has 5,625 square feet of built space and 5,560 square feet of additional air rights for a total buildable of 11,176 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $888 and the price per buildable square foot is $447 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 November 14, 2019, for $3.1 million. The signatory for Cycamore Capital was Kenneth P. Horowitz . The signatory for Jacob Kohn was Jacob Kohn. The contract date was May 1, 2025.

PincusCo analysis indicates this Jacob Kohn is not the same individual with the same name at Jay Group.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Jacob Kohn had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Cycamore Capital had not purchased any other properties and sold one property in one transaction for a total of $2.2 million over the same time period. The former owner according to the Department of Housing Preservation and Development is Jasi Navarro , head officer. The business entity is 620 Myrtle Avenue Llc. The 5,625-square-foot property generated revenue of $117,113 or $21 per square foot, according to the most recent income and expense figures.

The property

The mixed-use building with 4 residential units in Bedford Stuyvesant has 5,625 square feet of built space and 5,560 square feet of additional air rights for a total buildable of 11,176 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 111 feet deep with a total lot size of 2,794 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $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 $125 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 Bedford Stuyvesant, The bulk, or 35 percent of the 54.8 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 29 percent of the space. In sales, Bedford Stuyvesant has the 10th highest sale turnover among other neighborhoods in the city with $1.4 billion in sales volume in the last two years. For development, Bedford Stuyvesant has 2.1 times the average amount of major developments relative to other neighborhoods and is the 3rd highest in Brooklyn. It had 3.5 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space. There were 621 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 seven of the 13 commercial properties representing 119,304 square feet of the 146,368 square feet. The largest owner is Muss Development , followed by Hershey Feketa and then Jason Leal.
There are no active new building construction projects on this tax block.

The majority, or 62 percent of the 146,368 square feet of built space are elevator buildings, with mixed-use buildings next occupying 23 percent of the space.

The seller

The PincusCo database currently indicates that Cycamore Capital owned at least seven commercial properties with 36 residential units in New York City with 27,828 square feet and a PincusCo-determined asset value of $16.2 million. Within the portfolio, the bulk, or 79 percent of the 27,828 square feet of built space are walkup properties, with C0 properties next occupying 12 percent of the space.

The buyer

The PincusCo database currently indicates that Jacob Kohn owned at least 11 commercial properties with 347 residential units in New York City with 97,376 square feet and a PincusCo-determined asset value of $117 million. The portfolio has $98.8 million in debt, with top three lenders as Argentic Investment Management , MF1 Capital, and Prophet Mortgage Opportunities respectively. Within the portfolio, the bulk, or 53 percent of the 97,376 square feet of built space are condo properties, with elevator properties next occupying 26 percent of the space. The bulk, or 97 percent of the built space, is in Brooklyn, with Bronx next at 2 percent of the space.

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