Mohammad Shadath pays $2.2M for mixed-use in Kensington

Mohammad Shadath through the entity 321 East 2nd St Corp. paid $2.2 million to Alice Leventhal through the entity Leventhal, Alice for the four-unit mixed-use building (S9) at 201 Church Avenue in Kensington, Brooklyn. The expected use is cash flowing.
The deal closed on January 30, 2025 and was recorded on February 14, 2025. The property has 7,560 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $291 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 Alice Leventhal was Alice Leventhal. The signatory for Mohammad Shadath was Mohammad Shadath. The contract date was October 22, 2024.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Mohammad Shadath had purchased any other properties and sold one property in one transaction for a total of $2.3 million over the past 24 months.
The seller Alice Leventhal had not purchased any other properties and had not sold any properties over the same time period. The former owners according to the Department of Housing Preservation and Development includes Dorothy Schecter, officer and Alice Leventhal, individual owner.

The property

The mixed-use building with 4 residential units in Kensington has 7,560 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 21 feet and is 102 feet deep with a total lot size of 1,972 square feet. The lot is irregular. The zoning is R5 which allows for up to 1.25 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $887,000. The property has 4 rent regulated units according to city tax records from 2023.

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 $200 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 Kensington, The bulk, or 44 percent of the 10.2 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 24 percent of the space. In sales, Kensington has had very little sales volume relative to other neighborhoods with $78.8 million in sales volume in the last two years. For development, Kensington has had very little major development activity relative to other neighborhoods.It had 287,896 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the 13 commercial properties representing 3,300 square feet of the 48,789 square feet. The identified owner is John Giordano.
There are no active new building construction projects on this tax block.

The majority, or 93 percent of the 48,789 square feet of built space are mixed-use buildings, with retail buildings next occupying 7 percent of the space.

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