Michael Joseph, Gilad Rosenberg pay $8M for industrial in East New York

Michael Joseph and Gilad Y. Rosenberg through the entity Roeh Partners LLC paid $8 million to Kenneth Volandes through the entity Madison HJN LLC for the industrial building (E1) at 590 Berriman Street in East New York, Brooklyn. The expected use is cash flowing.
The deal closed on February 26, 2026 and was recorded on March 20, 2026. The property has 21,895 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $365 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 March 17, 2014, for $2.3 million. The signatory for Kenneth Volandes was Kenneth Volandes. The signatory for Michael Joseph and Gilad Y. Rosenberg was Michael Joseph and Gilad Y. Rosenberg. The contract date was June 13, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Michael Joseph had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Kenneth Volandes had not purchased any other properties and had not sold any properties over the same time period. The 21,895-square-foot property generated revenue of $285,709 or $13 per square foot, according to the most recent income and expense figures.

The property

The industrial building in East New York has 21,895 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 99 feet and is 200 feet deep with a total lot size of 19,900 square feet. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $1.9 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 East New York, The bulk, or 40 percent of the 44.6 million square feet of commercial built space are elevator buildings, with industrial buildings next occupying 21 percent of the space. In sales, East New York has 1.2 times the average sales volume among other neighborhoods with $382 million in sales volume in the last two years and is the 18th highest in Brooklyn. For development, East New York has 3.3 times the average amount of major developments relative to other neighborhoods and is the 2nd highest in Brooklyn. It had 5.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 11 percent of the neighborhood’s built space. There were 35 pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of one of the nine commercial properties representing 9,700 square feet of the 121,507 square feet. The identified owner is Nevelle Bearam.
There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 121,507 square feet of built space are industrial buildings, with development buildings next occupying 0 percent of the space.

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