Philip Cabbad pays $9.2M to Cabbad Family for four mixed-use properties in Park Slope

Philip Cabbad through the entity 101-107 5th Ave. LLC paid $9.2 million to the Cabbad Family through the entity Cabbad Family Limited Liability Company for the two-unit mixed-use building (S2) at 107 5th Avenue in Park Slope, Brooklyn, two-unit mixed-use building (S2) at 103 5th Avenue in Park Slope, Brooklyn, and two-unit mixed-use building (S2) at 101 5th Avenue in Park Slope, Brooklyn. The expected use is cash flowing.
The deal closed on February 18, 2026 and was recorded on March 4, 2026. The four properties have 10,464 square feet of built space and 7,853 square feet of additional air rights for a total buildable of 18,336 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $879 and the price per buildable square foot is $501 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 Cabbad Family was Michael Cabbad . The signatory for Philip Cabbad was Philip Cabbad. The contract date was February 18, 2026.

The Cabbad Family as a group and as individuals own the assets of the late Albert Cabbad, who acquired property on 5th Avenue in Park Slope.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Philip Cabbad had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Cabbad Family had not purchased any other properties and sold seven properties in five transactions for a total of $16.9 million over the same time period.

The property

The mixed-use building with 2 residential units in Park Slope has 10,464 square feet of built space and 7,853 square feet of additional air rights for a total buildable of 18,336 square feet according to a PincusCo analysis of city data. The parcel has frontage of 19 feet and is 78 feet deep with a total lot size of 1,528 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 $3.3 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received one DOB violation and $975 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 Park Slope, The bulk, or 36 percent of the 9.8 million square feet of commercial built space are walkup buildings, with mixed-use buildings next occupying 26 percent of the space. In sales, Park Slope has 2.7 times the average sales volume among other neighborhoods with $853.3 million in sales volume in the last two years and is the 5th highest in Brooklyn. For development, Park Slope has had very little major development activity relative to other neighborhoods.It had 1.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 11 percent of the neighborhood’s built space. There were 16 pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On the tax block of 107 5th Avenue, PincusCo has identified the owners of five of the 10 commercial properties representing 81,682 square feet of the 99,882 square feet. The largest owner is Nyc Department Of Education, followed by Yolanda Cabbad and then Arthur Gabriel.
There are no active new building construction projects on this tax block.

The majority, or 64 percent of the 99,882 square feet of built space are specialty buildings, with walkup buildings next occupying 21 percent of the space.

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