Nonprofit pays $2.5M to AJ Partners for 8-unit walkup in East Flatbush
The nonprofit Project ReDirect through the entity Project Redirect Of District Of Columbia NY Inc. paid $2.5 million through a real estate owned sale to AJ Partners through the entity AJ Partners LLC for the eight-unit residential walkup building (C1) at 3014 Glenwood Road in East Flatbush, Brooklyn. The expected use is owner-occupied.
The deal closed on March 26, 2026 and was recorded on April 3, 2026. The property has 4,485 square feet of built space and 1,520 square feet of additional air rights for a total buildable of 6,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $568 and the price per buildable square foot is $425 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 November 12, 2019, for $1.3 million. The signatory for AJ Partners was Lance Falow . The signatory for Project ReDirect was Harold King . The contract date was January 23, 2026.
AJ Partners bought the $2.195 million note in April 5, 2024, then through the Kings County foreclosure under index number 513536/2021, took title on April 4, 2025.
Prior sales, articles and revenue
Prior to this transaction, PincusCo has no record that the buyer Project ReDirect had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller AJ Partners had not purchased any other properties and sold two properties in one transaction for a total of $2.4 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Russell Fridman, head officer and Gary Budoff, shareholder. The business entity is Aj Partners Llc.
The property
The residential walkup building with 8 residential units in East Flatbush has 4,485 square feet of built space and 1,520 square feet of additional air rights for a total buildable of 6,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 100 feet deep with a total lot size of 2,000 square feet. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $675,000.
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 $2,250 in ECB penalties and $4,870 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 block
On this tax block, PincusCo has identified the owners of five of the 29 commercial properties representing 23,434 square feet of the 145,394 square feet. The largest owner is Inmar, followed by Cheskel Brach and then Litsa Koutoudis.
On the tax block, there was one new building construction project filed totaling 5,129 square feet. It is a 5,129 square-foot 53 building submitted by Marx Realty and filed by Jeffrey Young with plans filed December 20, 2023 and permitted August 7, 2025.
The majority, or 69 percent of the 145,394 square feet of built space are mixed-use buildings, with retail buildings next occupying 21 percent of the space.
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