Leviathan Capital pays $3.55M for 2 mixed-use buildings in Williamsburg

Yaniv Cohen‘s Leviathan Capital paid $3.55 million for two adjacent mixed-use buildings in Williamsburg, at 157 and 159 Havemeyer Street, which had been owned by the same family for 55 years and 48 years, respectively.
The sellers are the heirs of children’s clothing retailer Natan Borlam. Borlam purchased 157 Havemeyer Street for $15,000 in February 1969 and later purchased 159 Havemeyer Street in March 1977 for an undisclosed amount, in a transaction financed with a $4,000 purchase money mortgage from the seller.

Borlam, a native of Czechoslovakia and a survivor of Auschwitz, opened the children’s store in 1952, The New York Times reported in 2003.

In the first purchase, Leviathan Capital through the entity 613 Hav LLC paid $1.775 million for the mixed-use building (K4) at 157 Havemeyer Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on September 30, 2025 and was recorded on October 14, 2025. The property has 3,120 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $568 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.)

In the second, Leviathan Capital through the entity 613 Hav LLC paid $1.775 million to the Zoltan family for the two-unit mixed-use building (S2) at 159 Havemeyer Street in Williamsburg, Brooklyn. The expected use is cash flowing.
The deal closed on September 30, 2025 and was recorded on October 14, 2025. The property has 3,120 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $568 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 signatories for the sellers were Robert Zoltan and Carol Zoltan. The signatory for Leviathan Capital was Yaron Cohen . The contract date was July 9, 2025.

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 Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 5th highest sale turnover among other neighborhoods in the city with $1.9 billion in sales volume in the last two years. For development, Williamsburg is the most active neighborhood among other neighborhoods. It had 41.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of eight of the 15 commercial properties representing 106,043 square feet of the 132,068 square feet. The largest owner is Sholem Kestenbaum, followed by Jacob Schwartz and then Dax Capital.
On the tax block, there was one new building construction project filed totaling 11,153 square feet. It is a 16-unit, 11,153 square-foot residential (R-2) building submitted by Yisroel Greenfeld with plans filed March 16, 2022 and permitted December 15, 2022.

The majority, or 42 percent of the 132,068 square feet of built space are elevator buildings, with walkup buildings next occupying 41 percent of the space.

The buyer

The PincusCo database currently indicates that Leviathan Capital owned at least five commercial properties with 42 residential units in New York City with 22,965 square feet and a city-determined market value of $6.9 million. (Market value is typically about 50% of actual value.) The portfolio has $16.2 million in debt, with top three lenders as JLL, Leviathan Capital, and Rossmils Investments respectively. Within the portfolio, the bulk, or 56 percent of the 22,965 square feet of built space are walkup properties, with retail properties next occupying 44 percent of the space. The bulk, or 56 percent of the built space, is in Manhattan, with Brooklyn next at 44 percent of the space.

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