Landau, Mauskopf pay $37M for 7 parcels in Ridgewood that form triangular city block

Chaskel Landau, Cheskel Mauskopf , and Joseph Mauskopf paid $37 million for seven properties including the retail building (K2) at 54-32 Myrtle Avenue, the retail building (K1) at 54-08 Myrtle Avenue, and the mixed-use building (K2) at 54-00 Myrtle Avenue in Ridgewood, Queens. The seven buildings compose an entire city block in the form of a triangle bounded by Myrtle Avenue, Madison Street and Wyckoff Avenue.
The deal closed on October 29, 2025 and was recorded on November 12, 2025. The seven properties have 72,861 square feet of built space and 98,639 square feet of additional air rights for a total buildable of 171,492 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $507 and the price per buildable square foot is $215 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 Shulsky family, including the late Rubin Shulsky, has had an ownership stake in one or more of these parcels since at least the 1960s. The seller was The Rena Shulsky David Revocable Trust.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Chaskel Landau purchased three properties in three transactions for a total of $20.3 million and has no record it sold any properties over the past 24 months.
The seller Rena Shulsky David had not purchased any other properties and had not sold any properties over the same time period. Out of the seven properties, six with a total of 72,861 square feet of built space generated revenue of $3.2 million per year.

The property

The retail buildings in Ridgewood have 72,861 square feet of built space and 98,639 square feet of additional air rights for a total buildable of 171,492 square feet according to a PincusCo analysis of city data. The parcel has frontage of 155 feet and is 182 feet deep with a total lot size of 18,823 square feet. The lot is irregular. 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 $4.8 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $1,430 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 Ridgewood, The bulk, or 38 percent of the 20 million square feet of commercial built space are walkup buildings, with mixed-use buildings next occupying 29 percent of the space. In sales, Ridgewood has had very little sales volume relative to other neighborhoods with $183.7 million in sales volume in the last two years. For development, Ridgewood has near average amount of major developments among other neighborhoods and is the 7th highest in Queens. It had 1.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 7 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

The majority, or 92 percent of the 105,227 square feet of built space are retail buildings, with mixed-use buildings next occupying 8 percent of the space.

The buyer

The PincusCo database currently indicates that Chaskel Landau owned at least 28 commercial properties with 259 residential units in New York City with 241,981 square feet and a city-determined market value of $40.7 million. (Market value is typically about 50% of actual value.) The portfolio has $72 million in debt, with top three lenders as S3 Capital, A&E Real Estate Holdings, and Broadview Capital respectively. Within the portfolio, the bulk, or 34 percent of the 241,981 square feet of built space are walkup properties, with elevator properties next occupying 31 percent of the space. The bulk, or 88 percent of the built space, is in Brooklyn, with Manhattan next at 12 percent of the space.
The PincusCo database currently indicates that Joseph Mauskopf owned at least two commercial properties with 18 residential units in New York City with 9,125 square feet and a city-determined market value of $2.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Brooklyn.

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