NuBridge takes title through foreclosure of 7-unit walkup in Bushwick, transfer value $3.1M

Former property lender NuBridge Commercial Lending acquired title through a judicial foreclosure of the seven-unit residential walkup building (C7) at 1176 Bushwick Avenue in Bushwick, Brooklyn. The expected use is hold for sale. The transaction value was $3.1 million.
The deal closed on March 19, 2026 and was recorded on April 21, 2026. The property has 4,400 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $697 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 court on behalf of the former owner Stella Bristol was the referee, Jeffrey H. Schwartz. The signatory for NuBridge Commercial Lending was Ron McMahan . The contract date was April 24, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer NuBridge Commercial Lending had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Stella Bristol had not purchased any other properties and had not sold any properties over the same time period. The 4,400-square-foot property generated revenue of $108,592 or $25 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 7 residential units in Bushwick has 4,400 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 90 feet deep with a total lot size of 1,800 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.3 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 one DOB violation and one housing litigation 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 three of the 12 commercial properties representing 18,379 square feet of the 86,161 square feet. The largest owner is Shlome Landau, followed by Chaim Goldberser and then Dan Vaknine.
On the tax block, there was one new building construction project filed totaling 4,785 square feet. It is a six-unit, 4,785 square-foot residential (R-2) building submitted by Yitzy Stark with plans filed August 1, 2019 and permitted April 13, 2022.

The majority, or 61 percent of the 86,161 square feet of built space are walkup buildings, with specialty buildings next occupying 27 percent of the space.

The buyer

The PincusCo database currently indicates that Nubridge Commercial Lending owned at least one commercial property with 11 residential units in New York City with 3,812 square feet and a city-determined market value of $893,000. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property.

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