Jody Vorchheimer, Linda Salamon pay $2.7M for mixed-use in Bushwick

Jody Vorchheimer and Linda Salamon, of the Heracles Acquisition Fund, through the entity Silver Capital JV LLC (and others) paid $2.7 million for the real estate owned asset to TLOA Mortgage for the four-unit mixed-use building (S4) at 1427 Dekalb Avenue in Bushwick, Brooklyn.
The deal closed on September 23, 2025 and was recorded on October 2, 2025. The property has 5,274 square feet of built space and 800 square feet of additional air rights for a total buildable of 6,075 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $511 and the price per buildable square foot is $444 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 TLOA Mortgage was Michael Reiner . The signatory for Jody Vorchheimer , Linda Salamon , of the Heracles Acquisition Fund was Peter Young . The contract date was September 23, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Jody Vorchheimer had purchased any other properties and sold one property in one transaction for a total of $5.5 million over the past 24 months.
The seller TLOA Mortgage had not purchased any other properties and sold one property in one transaction for a total of $4.5 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Tadgh Macaulay, head officer and Helena Torvela, agent. The business entity is Tloa Mortgage, Llc. The 5,274-square-foot property generated revenue of $109,805 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 Bushwick has 5,274 square feet of built space and 800 square feet of additional air rights for a total buildable of 6,075 square feet 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 R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.2 million. TLOA Mortgage on October 21, 2020 bought a loan with an original principal of from signed by Michael Reiner, secured by 1427 Dekalb Avenue, when owned by TLOA Mortgage.

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 $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 neighborhood

In Bushwick, The bulk, or 44 percent of the 33.6 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 18 percent of the space. In sales, Bushwick has 1.8 times the average sales volume among other neighborhoods with $531.5 million in sales volume in the last two years and is the 12th highest in Brooklyn. For development, Bushwick has had very little major development activity relative to other neighborhoods.It had 1.1 million 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. There were three 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 12 of the 24 commercial properties representing 84,121 square feet of the 133,071 square feet. The largest owner is Joel Schwartz, followed by Isidore J. Miller and then Maxwell Seibald.
There are no active new building construction projects on this tax block.

The majority, or 58 percent of the 133,071 square feet of built space are walkup buildings, with mixed-use buildings next occupying 25 percent of the space.

The buyer

The PincusCo database currently indicates that Heracles Acquisition Fund owned at least one commercial property with six residential units in New York City with 7,500 square feet and a city-determined market value of $1.3 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 Queens.

Direct link to Acris document. link