Jankos Group pays $3.7M to Yehuda Simpson for mixed-use in Crown Heights

Jankos Group through the entity 942 Atlantic Holdings LLC paid $3.7 million to Yehuda Simpson through the entity 942 Atlantic LLC for the two-unit mixed-use building (S2) at 942 Atlantic Avenue in Crown Heights, Brooklyn. The expected use is cash flowing.
The deal closed on January 16, 2026 and was recorded on February 6, 2026. The property has 3,150 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $1,174 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 September 18, 2024, for $2 million. The signatory for Yehuda Simpson was Yehuda M. Simpson . The signatory for Jankos Group was Maier Jankovits . The contract date was July 1, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Jankos Group purchased one property in one transaction for a total of $2.2 million and has no record it sold any properties over the past 24 months.
The seller Yehuda Simpson had not purchased any other properties and had not sold any properties over the same time period.

The property

The mixed-use building with 2 residential units in Crown Heights has 3,150 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $1.2 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 Crown Heights, The bulk, or 39 percent of the 46.5 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 36 percent of the space. In sales, Crown Heights has 2.3 times the average sales volume among other neighborhoods with $753.3 million in sales volume in the last two years and is the 7th highest in Brooklyn. For development, Crown Heights has 1.4 times the average amount of major developments relative to other neighborhoods and is the 7th highest in Brooklyn. It had 2.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 12 of the 31 commercial properties representing 99,056 square feet of the 160,225 square feet. The largest owner is 4403 15th Ave #543 Brooklyn, Ny 11219 Registered, followed by Elliot Frankel and then Maude Wagner.
On the tax block, there were two new building construction projects totaling 114,915 square feet. The largest is a 99-unit, 74,704 square-foot residential (R-2) building submitted by EMP Capital Group and filed by Elie Pariente with plans filed January 13, 2026 and it has not been permitted yet. The second largest is a 59-unit, 40,211 square-foot residential (R-2) building submitted by Jankos Group and filed by Mark Jankovits with plans filed January 5, 2026 and it has not been permitted yet.

The majority, or 53 percent of the 160,225 square feet of built space are retail buildings, with mixed-use buildings next occupying 35 percent of the space.

The buyer

The PincusCo database currently indicates that Jankos Group owned at least three commercial properties with 26 residential units in New York City with 5,740 square feet and a city-determined market value of $3.3 million. (Market value is typically about 50% of actual value.) The portfolio has $14.2 million in debt, borrowed from Arbor Realty Trust. Within the portfolio, the bulk, or 51 percent of the 5,740 square feet of built space are mixed-use properties, with C0 properties next occupying 49 percent of the space. They are all located in Brooklyn.

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