Preuss Inc. pays $2.5M for industrial in East Williamsburg

Preuss Inc. through the entity RR&Lp LLC paid $2.5 million to Daniel Hodak through the entity Hoham 932 Grand Street, LLC for the industrial building (F5) at 942 Grand Street in East Williamsburg, Brooklyn. The expected use is owner-occupied.
The deal closed on September 26, 2025 and was recorded on October 2, 2025. The property has 5,340 square feet of built space and 5,340 square feet of additional air rights for a total buildable of 10,680 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $468 and the price per buildable square foot is $234 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 Daniel Hodak and Gadi Ruham was Daniel P. Hodak . The signatory for Preuss Inc. was Ryan Preuss . The contract date was April 25, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Preuss Inc. had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Daniel Hodak had not purchased any other properties and had not sold any properties over the same time period. The 5,340-square-foot property generated revenue of $171,521 or $32 per square foot, according to the most recent income and expense figures.

The property

The industrial building in East Williamsburg has 5,340 square feet of built space and 5,340 square feet of additional air rights for a total buildable of 10,680 square feet according to a PincusCo analysis of city data. The parcel has frontage of 49 feet and is 111 feet deep with a total lot size of 5,340 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 $975,000.

Violations and lawsuits

The property was involved in one lawsuit and zero bankruptcies over the past two years. The suit was a $1 million money judgment concerning a partnership filed on December 8, 2023, by Daniel Hodak against Gad Ruham. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on March 28, 2025. 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 East Williamsburg, The majority, or 62 percent of the 17.1 million square feet of commercial built space are industrial buildings, with walkup buildings next occupying 11 percent of the space. In sales, East Williamsburg has 1.4 times the average sales volume among other neighborhoods with $415.2 million in sales volume in the last two years and is the 17th highest in Brooklyn. For development, East Williamsburg has 1.3 times the average amount of major developments relative to other neighborhoods and is the 9th highest in Brooklyn. It had 1.9 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 two pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of three of the 24 commercial properties representing 30,677 square feet of the 206,450 square feet. The two identified owners are G-Way Management and Amant Foundation.
On the tax block, there was one new building construction project filed totaling 2,977 square feet. It is a 2,977 square-foot business (B) building submitted by Leontine Ebers with plans filed March 21, 2017 and permitted February 26, 2018.

The majority, or 81 percent of the 206,450 square feet of built space are industrial buildings, with retail buildings next occupying 13 percent of the space.

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