Metal Green Recycling Industries pays $2.6M to Daniel Ohebshalom for retail in Sheepshead Bay
Metal Green Recycling Industries through the entity 2481 Knapp St LLC paid $2.6 million to Keystone Management through the entity Highpoint Associates VIII, LLC for the retail building (K5) at 2481 Knapp Street in Sheepshead Bay, Brooklyn. The expected use is owner-occupied.
The deal closed on August 25, 2025 and was recorded on October 1, 2025. The property has 2,792 square feet of built space and 42,187 square feet of additional air rights for a total buildable of 44,880 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $931 and the price per buildable square foot is $57 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 Keystone Management was Howard M. Rubin. The contract date was May 14, 2025. The seller is an affiliate of investor Daniel Ohebshalom, who was ordered twice to serve short jail terms for ignoring orders to repair his buildings. The site is a former Burger King.
Prior sales and revenue
Prior to this transaction, PincusCo has no record that the buyer Metal Green Recycling Industries had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Keystone Management had not purchased any other properties and sold two properties in two transactions for a total of $14.5 million over the same time period. The 2,792-square-foot property generated revenue of $149,093 or $53 per square foot, according to the most recent income and expense figures.
The property
The retail building in Sheepshead Bay has 2,792 square feet of built space and 42,187 square feet of additional air rights for a total buildable of 44,880 square feet according to a PincusCo analysis of city data. The parcel has frontage of 160 feet and is 150 feet deep with a total lot size of 22,440 square feet. The lot is irregular. The zoning is C7 which allows for up to 2 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $643,000.
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 received $1,250 in ECB penalties and $1,250 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 Sheepshead Bay, The bulk, or 43 percent of the 26.6 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 17 percent of the space. In sales, Sheepshead Bay has 1.7 times the average sales volume among other neighborhoods with $482.6 million in sales volume in the last two years and is the 13th highest in Brooklyn. For development, Sheepshead Bay has had very little major development activity relative to other neighborhoods.It had 660,443 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of one of the five commercial properties representing 29,835 square feet of the 115,683 square feet. The identified owner is Ofer Joe Levy.
There are no active new building construction projects on this tax block.
The majority, or 72 percent of the 115,683 square feet of built space are industrial buildings, with office buildings next occupying 26 percent of the space.
The seller
The PincusCo database currently indicates that Keystone Management owned at least three commercial properties with 14 residential units in New York City with 29,820 square feet and a city-determined market value of $9.7 million. (Market value is typically about 50% of actual value.) The portfolio has $10 million in debt, borrowed from Flushing Bank. Within the portfolio, the bulk, or 67 percent of the 29,820 square feet of built space are retail properties, with walkup properties next occupying 33 percent of the space. The bulk, or 67 percent of the built space, is in Queens, with Manhattan next at 33 percent of the space.
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