Nonprofit pays $3.3M to Mordekhai Danino for industrial in Williamsburg

The nonprofit religious group Ateres Banim through the entity Ateres Banim, Inc. paid $3.3 million to Mordekhai Danino through the entity Star Nadlan LLC for the industrial building (F5) at 471 Flushing Avenue in Williamsburg, Brooklyn. The expected use is owner-occupied.
The deal closed on February 27, 2026 and was recorded on March 26, 2026. The property has 2,675 square feet of built space and 2,679 square feet of additional air rights for a total buildable of 5,358 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,243 and the price per buildable square foot is $620 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 Mordekhai Danino was Yaffa Kagan . The signatory for Ateres Banim was Joseph Pomerantz . The contract date was December 24, 2024.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Ateres Banim had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Mordekhai Danino had not purchased any other properties and had not sold any properties over the same time period. The 2,675-square-foot property generated revenue of $42,880 or $16 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Williamsburg has 2,675 square feet of built space and 2,679 square feet of additional air rights for a total buildable of 5,358 square feet according to a PincusCo analysis of city data. The parcel has frontage of 41 feet and is 82 feet deep with a total lot size of 2,679 square feet. The lot is irregular. The zoning is M1-2 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $243,000.

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 not received any significant violations 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 Williamsburg, The bulk, or 39 percent of the 50.4 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 25 percent of the space. In sales, Williamsburg has the 6th highest sale turnover among other neighborhoods in the city with $2 billion in sales volume in the last two years. For development, Williamsburg is the 2nd most active neighborhood among other neighborhoods. It had 42 million square feet of commercial and multi-family construction under development in the last two years, which represents 83 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the 20 commercial properties representing 6,000 square feet of the 118,076 square feet. The identified owner is Isaac Herskovitz.
There are no active new building construction projects on this tax block.

The majority, or 35 percent of the 118,076 square feet of built space are mixed-use buildings, with industrial buildings next occupying 35 percent of the space.

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