Joel and Leah Waldman pay $6M for 32-unit dev site in Mott Haven

Joel Waldman and Leah Waldman through the entity BH Walton LLC paid $6 million to Michael Gomolinsky and Richard Gomolinski through the entity Bengomo Realty, Inc. for the 32-unit development at 301 Walton Avenue in Mott Haven, Bronx. The expected use is ground up development.

On the lot, there is one active new building construction project, X01064187, for a 32-unit, 30,784 square-foot residential (R-2) building. The project was submitted by SCG Capital and filed by Shimon Greenfeld with plans filed June 19, 2024 and it has not been permitted yet.

The deal closed on September 4, 2025 and was recorded on September 16, 2025. The property has 27,425 square feet of built space and 11,739 square feet of additional air rights for a total buildable of 39,132 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $218 and the price per buildable square foot is $153 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 Michael Gomolinsky and Richard Gomolinski was Michael Gomolinsky and Richard Gomolinski. The signatory for Joel Waldman and Leah Waldman was Joel Waldman and Leah Waldman. The contract date was September 4, 2025.

The buyers financed the purchase with an $8.9 million loan from IceCap Group.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Joel Waldman had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Michael Gomolinsky had not purchased any other properties and had not sold any properties over the same time period. The 27,425-square-foot property generated revenue of $515,280 or $19 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Mott Haven has 27,425 square feet of built space and 11,739 square feet of additional air rights for a total buildable of 39,132 square feet according to a PincusCo analysis of city data. The parcel has frontage of 81 feet and is 174 feet deep with a total lot size of 13,044 square feet. The lot is irregular. The zoning is M1-4/R6A which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 3 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.4 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.

The neighborhood

In Mott Haven, The bulk, or 45 percent of the 41.7 million square feet of commercial built space are elevator buildings, with industrial buildings next occupying 23 percent of the space. In sales, Mott Haven has near average sales volume among other neighborhoods with $316.2 million in sales volume in the last two years and is the highest in Bronx. For development, Mott Haven has 1.7 times the average amount of major developments relative to other neighborhoods and is the 3rd highest in Bronx. It had 2.4 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.

The block

On this tax block, PincusCo has identified the owners of eight of the 11 commercial properties representing 292,457 square feet of the 351,966 square feet. The largest owner is Altmark Group, followed by Beitel Group and then Knickpoint Ventures.
On the tax block, there were five new building construction projects totaling 784,155 square feet. The largest is a 470-unit, 306,893 square-foot residential (R-2) building submitted by Beitel Group and filed by Binyamin Beitel with plans filed January 13, 2022 and permitted April 4, 2024. The second largest is a 240-unit, 192,026 square-foot residential (R-2) building submitted by Michael Lichtenstein and filed by Yechial Lichtenstein with plans filed February 28, 2022 and permitted June 11, 2024.

The majority, or 68 percent of the 351,966 square feet of built space are industrial buildings, with specialty buildings next occupying 32 percent of the space.

The buyer

The PincusCo database currently indicates that Joel Waldman owned at least 15 commercial properties with 264 residential units in New York City with 94,981 square feet and a city-determined market value of $12.3 million. (Market value is typically about 50% of actual value.) The portfolio has $39.2 million in debt, with top three lenders as Vernon Capital Funding, NorthEast Community Bank, and Tideway Capital Group respectively. Within the portfolio, the bulk, or 57 percent of the 94,981 square feet of built space are walkup properties, with development properties next occupying 27 percent of the space. The bulk, or 63 percent of the built space, is in Brooklyn, with Bronx next at 37 percent of the space.
The PincusCo database currently indicates that Leah Waldman owned at least 13 commercial properties with 262 residential units in New York City with 122,148 square feet and a city-determined market value of $14.8 million. (Market value is typically about 50% of actual value.) The portfolio has $26.6 million in debt, with top three lenders as Hanover Community Bank, Grasshopper Bank, and Signature Bank respectively. Within the portfolio, the bulk, or 26 percent of the 122,148 square feet of built space are retail properties, with walkup properties next occupying 21 percent of the space. The bulk, or 59 percent of the built space, is in Brooklyn, with Bronx next at 26 percent of the space.

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