Jadian Capital pays $10.8M for East New York for parking, logistics use

UPDATED 12:29 p.m., August 21, 2025: Jadian Capital through the entity 651 Fountain LLC paid $10.8 million to the entity HJC Holding Corp. for 14 tax lots that make up the entire triangle-shaped tax lot, including the industrial buildings (G9) at 333 Euclid Avenue, 665 Fountain Avenue and 432 Euclid Avenue in East New York, Brooklyn. The expected use is parking and logistics.
The deal closed on August 1, 2025 and was recorded on August 20, 2025. The 14 properties have 6,576 square feet of built space and 51,138 square feet of additional air rights for a total buildable of 57,756 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $186 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 Helene Carneglia was Helene Carneglia. The signatory for Jadian Capital , also known as Jadian IOS, was Daniel Schuchinsky . The contract date was June 4, 2024. Traded NY reported on the sale previously.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Jadian Capital had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Helene Carneglia had not purchased any other properties and had not sold any properties over the same time period. Out of the 14 properties, one with a total of 6,576 square feet of built space generated revenue of $74,329 per year.

The property

The industrial building in East New York has 6,576 square feet of built space and 51,138 square feet of additional air rights for a total buildable of 57,756 square feet according to a PincusCo analysis of city data. The parcel has frontage of 70 feet and is 139 feet deep with a total lot size of 15,864 square feet. The lot is irregular. The zoning is R4 which allows for up to 0.75 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $955,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $400 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 East New York, The bulk, or 40 percent of the 44.6 million square feet of commercial built space are elevator buildings, with industrial buildings next occupying 21 percent of the space. In sales, East New York has 1.3 times the average sales volume among other neighborhoods with $374.6 million in sales volume in the last two years and is the 20th highest in Brooklyn. For development, East New York has 3.2 times the average amount of major developments relative to other neighborhoods and is the 2nd highest in Brooklyn. It had 4.5 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

All properties are industrial.

Correction: An earlier version of this post said it was for ground up development, but it fact it’s for logistics. 

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