Mosdos Satmar BP pays $12M for retail in Borough Park
5901 Bay Parkway (Credit - Cyclomedia)
Mosdos Satmar BP through the entity Mosdos Satmar Bp Inc. paid $12 million to Peter Gotlieb and Michael Blaymore through the entity B.C.G. Realty, Inc. for the retail building (K1) at 5901 Bay Parkway in Borough Park, Brooklyn. The expected use is ground up development, based on a PincusCo analysis of the sale price per foot and the buyer.
The deal closed on March 5, 2026 and was recorded on March 9, 2026. The property has 10,200 square feet of built space and 29,800 square feet of additional air rights for a total buildable of 40,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,176 and the price per buildable square foot is $300 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 Peter Gotlieb and Michael Blaymore was Peter Gotlieb and Michael Blaymore. The signatory for Mosdos Satmar BP was Shnayer Klein . The contract date was September 18, 2025.
Latest Mosdos Satmar Stories:
• Mosdos Satmar pays $20M to Talmudica Mosdos Temima for building in Kensington (November 03, 2023)
Prior sales, articles and revenue
Prior to this transaction, PincusCo has no record that the buyer Mosdos Satmar BP had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Peter Gotlieb had not purchased any other properties and had not sold any properties over the same time period. The 10,200-square-foot property generated revenue of $540,980 or $53 per square foot, according to the most recent income and expense figures.
The property
The retail building in Borough Park has 10,200 square feet of built space and 29,800 square feet of additional air rights for a total buildable of 40,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 200 feet and is 100 feet deep with a total lot size of 20,000 square feet. The zoning is C8-2 which allows for up to 2 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $3.2 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 $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 Borough Park, The bulk, or 25 percent of the 23.3 million square feet of commercial built space are specialty buildings, with mixed-use buildings next occupying 21 percent of the space. In sales, Borough Park has 3 times the average sales volume among other neighborhoods with $956.2 million in sales volume in the last two years and is the 3rd highest in Brooklyn. For development, Borough Park has near average amount of major developments among other neighborhoods and is the 14th highest in Brooklyn. It had 1.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of one of the eight commercial properties representing 52,446 square feet of the 117,577 square feet. The identified owner is 2250 59 Owner Llc.
There are no active new building construction projects on this tax block.
The majority, or 45 percent of the 117,577 square feet of built space are office buildings, with retail buildings next occupying 21 percent of the space.
The buyer
The PincusCo database currently indicates that Mosdos Satmar Bp owned at least four commercial properties with 39 residential units in New York City with 44,156 square feet and a city-determined market value of $12.8 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 79 percent of the 44,156 square feet of built space are specialty properties, with industrial properties next occupying 21 percent of the space. They are all located in Brooklyn.
Direct link to Acris document. link