Jay Lubin pays $3.1M for 38-unit walkup in East Flatbush

Jay Lubin through the entity 207 E91 Holdings LLC paid $3.1 million to Peter Weinberg through the entity East 91 Associates LLC for the 38-unit residential walkup building (C1) at 207 East 91st Street in East Flatbush, Brooklyn. The expected use is cash flowing.
The deal closed on October 29, 2025 and was recorded on November 6, 2025. The property has 35,396 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $88 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 Peter Weinberg was Peter Weinberg. The signatory for Jay Lubin was Jay Lubin. The contract date was July 2, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Jay Lubin had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Peter Weinberg had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Peter Weinberg, head officer and Debra Cooper, officer. The business entity is East 91 Associates Llc. The 35,396-square-foot property generated revenue of $597,876 or $17 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 38 residential units in East Flatbush has 35,396 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 112 feet deep with a total lot size of 11,250 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The property has a J-51 exemption that started in 1992 and expires in 2026. The city-designated market value for the property in 2022 is $2.1 million. The property has 38 rent regulated units according to city tax records from 2023.

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 one housing violation and $50 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 block

On this tax block, PincusCo has identified the owners of one of the 11 commercial properties representing 36,000 square feet of the 123,617 square feet. The identified owner is L+M Development Partners.
There are no active new building construction projects on this tax block.

The majority, or 58 percent of the 123,617 square feet of built space are walkup buildings, with mixed-use buildings next occupying 42 percent of the space.

The seller

The PincusCo database currently indicates that Peter Weinberg owned at least three commercial properties with 249 residential units in New York City with 290,564 square feet and a city-determined market value of $24.6 million. (Market value is typically about 50% of actual value.) The portfolio has $14.5 million in debt, borrowed from JPMorgan Chase. Within the portfolio, all identified are elevator properties. They are all located in Brooklyn.

The buyer

The PincusCo database currently indicates that Jay Lubin owned at least 15 commercial properties with 256 residential units in New York City with 186,668 square feet and a city-determined market value of $18.9 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Brooklyn.

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