Parlanti Group pays $20M for two Brooklyn rental buildings with 167 units

Parlanti Group paid $20 million to a single seller for two residential elevator buildings in Brooklyn with a total of 167 units in two transactions.

In the first transaction, Parlanti Group through the entity 2911 Brighton 5 LLC paid $12.9 million to the entity Erynn 5th Apartments Co., LLC for the 106-unit residential elevator building (D1) at 2911 Brighton 5th Street in Brighton Beach, Brooklyn. The expected use is cash flowing.
The deal closed on October 29, 2025 and was recorded on November 5, 2025. The property has 100,300 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $128 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 the seller was Marie Pindus. The signatory for Parlanti Group was Angelo Parlanti . The contract date was June 17, 2025.

In the second, Parlanti Group through the entity 230 73 LLC paid $7.1 million to the entity Erynn 73rd Apartments Co., LLC for the 59-unit residential elevator building (D1) at 230 73rd Street in Bay Ridge, Brooklyn. The expected use is cash flowing.
The deal closed on October 29, 2025 and was recorded on November 5, 2025. The property has 48,000 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $148 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 August 1, 2024, for $1.2 million. The signatory for was Marie Pindus. The signatory for Parlanti Group was Angelo Parlanti . The contract date was June 17, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Parlanti Group had purchased any other properties and sold one property in one transaction for a total of $7 million over the past 24 months.
The seller Marie Pindus 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 Gerald Pindus, joint owner and Marie Pindus, joint owner. The 100,300-square-foot property generated revenue of $2 million or $20 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 106 residential units in Brighton Beach has 100,300 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 176 feet and is 134 feet deep with a total lot size of 23,621 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 $9.2 million. The property has 104 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 $6,250 in ECB penalties, four housing violations, $6,350 in OATH penalties, 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 six of the 12 commercial properties representing 32,845 square feet of the 147,998 square feet. The largest owner is Oleksandr Nad, followed by Haim Pinhas and then Olga Belenkaya.
On the tax block, there were four new building construction projects totaling 47,636 square feet. The largest is a 22-unit, 16,479 square-foot residential (R-2) building submitted by Vladislav Tsirkin and filed by Vladislav Tsirkin with plans filed March 6, 2024 and permitted March 31, 2025. The second largest is a 23-unit, 15,716 square-foot residential (R-2) building submitted by Salomon Laniado with plans filed December 21, 2017 and it has not been permitted yet.

The majority, or 90 percent of the 147,998 square feet of built space are elevator buildings, with walkup buildings next occupying 8 percent of the space.

The seller

The PincusCo database currently indicates that Marie Pindus owned at least two commercial properties with 50 residential units in New York City with 38,666 square feet and a city-determined market value of $3.1 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Queens.

The buyer

The PincusCo database currently indicates that Parlanti Group owned at least 14 commercial properties with 630 residential units in New York City with 579,229 square feet and a city-determined market value of $47.1 million. (Market value is typically about 50% of actual value.) The portfolio has $5.5 million in debt, borrowed from Zions Bancorporation. Within the portfolio, the bulk, or 90 percent of the 579,229 square feet of built space are elevator properties, with walkup properties next occupying 10 percent of the space. They are all located in Brooklyn.

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