Loketch Group pays $11M for 17-unit dev site in Fort Greene

Loketch Group through the entity 158 Oxford LLC paid $11 million to Marc E. Lambrechts through the entity 158 Ny LLC for the development site at 158 South Oxford Street in Fort Greene, Brooklyn. The expected use is ground up development.

On the lot, there is one active new building construction project, B01329666, for a 17-unit, 22,947 square-foot residential (R-2) building. The project was submitted by Borough Developers and filed by Shimon Kleinman with plans filed December 18, 2025 and it has not been permitted yet. The development is now led by Loketch Group, according to filings with the Department of Building.
The deal closed on June 4, 2026 and was recorded on June 12, 2026. The property has 5,400 square feet of built space and 17,595 square feet of additional air rights for a total buildable of 23,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $2,037 and the price per buildable square foot is $478 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 Marc E. Lambrechts was Tracy E. Makow . The signatory for Loketch Group was Pinny Loketch . The contract date was October 6, 2025.

158 South Oxford Street

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Loketch Group had purchased any other properties and sold six properties in two transactions for a total of $124 million over the past 24 months.
The seller Marc E. Lambrechts had not purchased any other properties and had not sold any properties over the same time period.

The property

The 1-4 family building with 2 residential units in Fort Greene has 5,400 square feet of built space and 17,595 square feet of additional air rights for a total buildable of 23,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 115 feet deep with a total lot size of 11,500 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $6.8 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 not received any significant violations in the last year.

The block

On the tax block, there was one new building construction project filed totaling 22,947 square feet. It is a 17-unit, 22,947 square-foot residential (R-2) building submitted by Borough Developers and filed by Shimon Kleinman with plans filed December 18, 2025 and it has not been permitted yet.

The majority, or 71 percent of the 67,200 square feet of built space are specialty buildings, with office buildings next occupying 29 percent of the space.

The buyer

The PincusCo database currently indicates that Loketch Group owned at least 18 commercial properties with 219 residential units in New York City with 300,803 square feet and a PincusCo-determined asset value of $222.9 million. The portfolio has $176.1 million in debt, with top three lenders as Societe Generale , Maxim Capital Group , and BridgeCity Capital respectively. Within the portfolio, the bulk, or 68 percent of the 300,803 square feet of built space are elevator properties, with office properties next occupying 17 percent of the space.

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