Joseph Itzkowitz pays $3.8M for retail in Borough Park

Joseph Itzkowitz through the entity 4709 13th Ave LLC paid $3.8 million to Svetlana Chernin through the entity 4709 13th Avenue Realty LLC for the retail building (K4) at 4709 13th Avenue in Borough Park, Brooklyn. The expected use is cash flowing.
The deal closed on December 4, 2025 and was recorded on December 17, 2025. The property has 5,580 square feet of built space and 1,953 square feet of additional air rights for a total buildable of 7,533 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $681 and the price per buildable square foot is $504 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 May 28, 2008, for $3.2 million. The signatory for Svetlana Chernin was Svetlana Chernin. The signatory for Joseph Itzkowitz was Joseph Itzkowitz. The contract date was February 26, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Joseph Itzkowitz had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Svetlana Chernin had not purchased any other properties and had not sold any properties over the same time period. The 5,580-square-foot property generated revenue of $271,425 or $49 per square foot, according to the most recent income and expense figures.

The property

The retail building in Borough Park has 5,580 square feet of built space and 1,953 square feet of additional air rights for a total buildable of 7,533 square feet according to a PincusCo analysis of city data. The parcel has frontage of 31 feet and is 100 feet deep with a total lot size of 3,100 square feet. The zoning is C4-3 which allows for up to 3.4 times floor area ratio (FAR) for commercial and up to 2.43 times FAR for residential. The city-designated market value for the property in 2022 is $1.5 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 $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 Borough Park, The bulk, or 25 percent of the 23.3 million square feet of commercial built space are specialty buildings, with mixed-use buildings next occupying 21 percent of the space. In sales, Borough Park has 2.9 times the average sales volume among other neighborhoods with $888.3 million in sales volume in the last two years and is the 4th highest in Brooklyn. For development, Borough Park 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 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of four of the 21 commercial properties representing 77,346 square feet of the 283,033 square feet. The largest owner is Leibish Lemel, followed by Nessim Tammam and then Moses Eckstein.
On the tax block, there were two new building construction projects totaling 17,096 square feet. The largest is a two-unit, 8,810 square-foot residential (R-3) building submitted by M. Kaff with plans filed June 20, 2023 and permitted April 16, 2024. The second largest is a 8,286 square-foot 54 building submitted by Shmaye Rabinowitz and filed by Shmaye Rabinowitz with plans filed August 21, 2024 and it has not been permitted yet.

The majority, or 61 percent of the 283,033 square feet of built space are elevator buildings, with mixed-use buildings next occupying 15 percent of the space.

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