Joel Guttman pays $2.5M for retail in Bedford Park

Joel Guttman through the entity 2737 Webster East LLC paid $2.5 million to Clinton Olsen through the entity Longhouse Properties LLC for the retail building (K1) at 2737 Webster Avenue in Bedford Park, Bronx. The expected use is cash flowing.
The deal closed on March 27, 2026 and was recorded on April 23, 2026. The property has 5,004 square feet of built space and 16,012 square feet of additional air rights for a total buildable of 21,016 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $505 and the price per buildable square foot is $120 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 April 16, 2025, for $2 million. The signatory for Clinton Olsen was Clinton Olsen. The signatory for Joel Guttman was Joel Guttman. The contract date was October 1, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Joel Guttman purchased one property in one transaction for a total of $4 million and has no record it sold any properties over the past 24 months.
The seller Clinton Olsen purchased one property in one transaction for a total of $2 million and had not sold any properties over the same time period. The 5,004-square-foot property generated revenue of $181,195 or $36 per square foot, according to the most recent income and expense figures.

The property

The retail building in Bedford Park has 5,004 square feet of built space and 16,012 square feet of additional air rights for a total buildable of 21,016 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 50 feet deep with a total lot size of 5,004 square feet. The zoning is R7D which allows for up to 4.2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $831,000.

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 Bedford Park, The bulk, or 49 percent of the 20.3 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 27 percent of the space. In sales, Bedford Park has had very little sales volume relative to other neighborhoods with $162.9 million in sales volume in the last two years. For development, Bedford Park has had very little major development activity relative to other neighborhoods.It had 982,633 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 seven of the 20 commercial properties representing 234,096 square feet of the 392,573 square feet. The largest owner is City Of New York, followed by Shimon Greisman and then Anton Tinaj.
On the tax block, there were two new building construction projects totaling 45,588 square feet. The largest is a 69-unit, 36,858 square-foot residential (R-2) building submitted by Shaye Schwimmer and filed by S Schwimmer with plans filed December 29, 2025 and it has not been permitted yet. The second largest is a 22-unit, 8,730 square-foot residential (R-2) building submitted by Herman Jakob with plans filed March 3, 2022 and permitted February 15, 2024.

The majority, or 51 percent of the 392,573 square feet of built space are walkup buildings, with specialty buildings next occupying 25 percent of the space.

The seller

The PincusCo database currently indicates that Clinton Olsen owned at least one commercial property in New York City with 5,004 square feet and a city-determined market value of $2.5 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single retail property.

The buyer

The PincusCo database currently indicates that Joel Guttman owned at least four commercial properties with 29 residential units in New York City with 20,724 square feet and a city-determined market value of $20.1 million. (Market value is typically about 50% of actual value.) The portfolio has $17.1 million in debt, with top three lenders as Starwood Mortgage Capital, LMF Commercial, and IceCap Group respectively. Within the portfolio, the bulk, or 56 percent of the 20,724 square feet of built space are office properties, with B1 properties next occupying 14 percent of the space.

Direct link to Acris document. link