Joel Basch pays $17.2M to Lichtschein family for treatment facility building in Coney Island

Joel Basch through the entity Surf Propco LLC paid $17.2 million to the Lichtschein family including Robert, David, and Raphael, through the entity King David Of Brooklyn for the former nursing home at 2316 Surf Avenue in Coney Island, Brooklyn. The expected use is to rent the property to an affiliated operating company, Surfpoint Recovery LLC, which provides drug treatment services.
The deal closed on May 5, 2026 and was recorded on May 12, 2026. The property has 40,344 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $426 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 the Lichtschein family was Raphael Lichtschein. The signatory for Joel Basch was Joel Basch. The contract date was March 26, 2026. Joel Basch and Liberty One Group member Yosef Rabinowitz are 40% owner of Surfpoint Recovery LLC which is the operator of the rehab treatment facility. Surfpoint Recovery has an address at the office building 5518 Avenue N, shared by the owner entity Surf Proco LLC.

Crain’s New York first reported on this transaction.

The property was formerly a nursing home that was closed in 2022.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Joel Basch had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Robert Lichtschein 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 Abe Feder, head officer and Raphael Lichtschein, shareholder. The business entities are Joel Basch and King David Manor Of Brooklyn.

The property

The property in Coney Island has 40,344 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 40,344 square feet. The city-designated market value for the property in 2022 is $4.7 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 received one DOB violation 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 two of the 15 commercial properties representing 385,451 square feet of the 445,325 square feet. The two identified owners are New York City Housing Authority and Atlantic Development Group.
There are no active new building construction projects on this tax block.

The majority, or 63 percent of the 445,325 square feet of built space are elevator buildings, with specialty buildings next occupying 33 percent of the space.

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